Union Budget 2022 highlights | Sharp hike in capital expenditure; no changes in Income Tax
The Hindu
Here are sector-wise highlights of the 2022 Union Budget presented by Finance Minister Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman presented the Union Budget 2022. She said that the Budget proposals for this financial year rest on health and well-being, infrastructure, inclusive development, energy transition and climate action, financing of investments and 'Minimum Government, Maximum Governance'. India’s economic growth estimated at 9.2% to be the highest among all large economies. 60 lakh new jobs to be created under the productivity linked incentive scheme in 14 sectors.
Significant announcements include digital currency, e-passports and a slew of infrastructure projects. Edible oil, wearable electronics, imitation jewellery, polished diamond are to be cheaper. Fiscal deficit is 6.9% of GDP. Tax relief announced to persons with disabilities. No change in personal income tax rates.