Budget 2022 Live updates: No change in Income Tax slab, 30% tax on crypto assets

Finance Minister Nirmala Sitharaman is presenting her fourth Union Budget when she presents financial statements and tax proposals for fiscal year 2022-23.

12:41 PM, 1st Feb

While there is no change in I-T slabs, the FM Sitharaman announced tax relief for people with disabilities

12:29 PM, 1st Feb

Government proposes to reduce Minimum Alternative Tax to 15 per cent for cooperative societies at par with corporate: FM

12:27 PM, 1st Feb

Special Economic Zones Act will be replaced with new legislation which will help states to partner in developmental projects. Use of Kishan Drones will be promoted for crop assessment: FM

12:25 PM, 1st Feb

GST has been a landmark reform. We can now take pride on IT driven and progressive GST regime. GST revenues are buoyant despite the Covid-19 pandemic. GST collection is over one lakh 40 thousand crore rupees in January 2022: FM

12:24 PM, 1st Feb

1 per cent TDS will be levied on payments made on transfer of Digital Assets-FM

12:23 PM, 1st Feb

Any income from transfer of Virtual Digital Asset shall be taxed at 30% : FM  

12:23 PM, 1st Feb

Tax deduction limit in NPS to be increased from 10 per cent to 14 per cent to help the social security benefits of State Government employees to provide equal treatment at par with the Central Government employees: FM

12:19 PM, 1st Feb

To provide an opportunity to correct an error, taxpayers can now file an updated return within 2 years from the relevant assessment year. For taxation of digital assets shall be taxed at 30 per cent: FM

12:15 PM, 1st Feb

One lakh crore rupees will be allocated for financial assistance to States for 2022-23. Fiscal Deficit pegged at 6.9 percent of GDP in FY 22.  Fiscal Deficit pegged at 6.4 percent of GDP in FY 23: FM

12:15 PM, 1st Feb

Budget Estimate is estimated at 39.45 lakh crore rupees in 2022-23: FM

12:12 PM, 1st Feb

Digital currency will be issued by the RBI in 2022-23. Digital rupee will give a big boost to the economy: FM

12:09 PM, 1st Feb

Draft DPR of five river links have been finalized: FM

12:08 PM, 1st Feb

Venture Capital private equity investment of more than 5.5 lakh crore rupees facilitating one of the largest startups: FM

12:08 PM, 1st Feb

Sovereign Green Bonds will be issued to fund the green infrastructure projects. The effective capital expenditure of the central government is estimated at 10.68 lakh crore rupees in 2022-23: FM

12:04 PM, 1st Feb

Financial benefits will be provided to farmers to promote Agro forestry. Agroforestry & private Forestry, financial support will be provided to farmers belonging to scheduled castes, Scheduled Tribes who want to take up agroforestry: FM

12:04 PM, 1st Feb

A new scheme PM development initiative for North East will be initiated to fund social development projects: FM

12:03 PM, 1st Feb

The risk of climate change affects India,other countries. Moving towards Zero Carbon Emission is the govt’s vision. It will move country on sustainable development path. An online bill system to be launched for all Central ministries: FM

12:03 PM, 1st Feb

One Station One Product concept will be popularized: FM

11:59 AM, 1st Feb

5G spectrum auctions to be carried out in calendar 2022. Affordable broadband and mobile service proliferation in rural and remote areas, 5% of annual collections Universal Service Obligation Fund will be allocated : FM

11:59 AM, 1st Feb

Private industry will be encouraged in collaboration with DRDO and other bodies. 5G spectrum auctions to be carried out in calendar 2022 to enable launch of services within FY22-23: FM

11:58 AM, 1st Feb

Our vision is that villages and their residence should have the facility of e-services. Our government is reducing import and promoting indigenous development of defence items: FM

11:52 AM, 1st Feb

1.5 lakh post offices to be connected to core banking. Centres of Excellence will be established with an outlay of 250 crore rupees for urban sector development: FM

11:51 AM, 1st Feb

6,000 crore rupees programme to rate MSMEs to be rolled out over 5 years. We will promote a shift to public transport by promoting e-vehicles and use of zero fossil fuels: FM

11:51 AM, 1st Feb

FM Sitharaman said: 4 priorities for Amrit kaal:

1) PM gatishakti

2) Inclusive dev 

3) Productivity in sunrise sector

4) Energy transition and climate action

11:47 AM, 1st Feb

E-passport will be rolled out in 2022-23 for the convenience of the citizen for overseas travels: FM

11:47 AM, 1st Feb

Government has comprehensively revamped schemes of the Ministry of Women and Child Development such as Mission Shakti, Mission Vatsalya, Saksham Anganwadi and Poshan 2.0 to provide benefits: FM

11:45 AM, 1st Feb

75 Digital Banking Units in 75 Districts of the country will be set up by Scheduled Commercial Banks: FM

11:45 AM, 1st Feb

Government is committed to improve the living standards in the Aspirational Districts. Contracts for multi-modal parks at 4 locations to be awarded next fiscal: FM 

11:44 AM, 1st Feb

National Tele-Mental Health Programme will be launched. 2 lakh Aganwadi will be upgraded. A new scheme PM development initiative for North East will be initiated to fund social development projects: FM

11:43 AM, 1st Feb

80 lakh houses will be completed for eligible beneficiaries in 2022-23; 48,000 crores allotted: FM

11:42 AM, 1st Feb

One class one TV channel of PM e-vidya will enable supplementary education to class 1-12

• Teachers will be equipped with digital tools. Digital University will be set up
• An open platform for national digital health ecosystem will be rolled out

11:41 AM, 1st Feb

Startups will be facilitated to use Drone Shakti. Strategic transfer of Air India ownership has been completed; strategic buyers for NINL have been selected: FM

11:36 AM, 1st Feb

Natural farming will be promoted along Ganga Corridor. Benefit of Emergency Credit line Guarantee Scheme provided to 140 lakh MSMEs. Implementation of Ken-Betwa link worth Rs 44,605 crore to be taken up. It will provide irrigation facility to 9 lakh hectares of farmers’ land: FM Sitharaman

11:34 AM, 1st Feb

Production Linked Incentive scheme in 14 sectors have received excellent response and has the potential to create 60 lakh jobs: FM Sitharaman

11:29 AM, 1st Feb

Big pvt investment in infrastructure will be guided by Gati Shakti. 100 PM Gati Shakti Cargo terminals to be developed during next 3 yrs. 400 new generation #VandeBharat trains with better efficiency to be brought in during next 3 yrs: FM Sitharaman

11:23 AM, 1st Feb

LIC IPO is expected shortly. One Station One Product concept will be popularized. National Ropeway Development Programme will be taken up on PPP Mode: FM

11:20 AM, 1st Feb

Govt eyes creation of 60 lakh jobs in next 5 years: FM Nirmala Sitharaman

11:16 AM, 1st Feb

PM guided the economy recovery. The Budget seeks to lay a blueprint for next 25 years. #PMGatishakti is a transformative approach. During Amrit Kaal, our govt aims to achieve the vision for India@100 set out by PM in his Independence Day Address: FM

11:13 AM, 1st Feb

India's growth estimated to be at 9.2%, highest among all large economies: FM Nirmala Sitharaman

11:04 AM, 1st Feb

FM Nirmala Sitharaman presenting Union Budget 2022-23 in the parliament.

10:48 AM, 1st Feb

Cabinet approves Budget 2022, FM Nirmala Sitharaman to begin speech shortly

10:07 AM, 1st Feb

FM Nirmala Sitharaman arrives at Parliament to present Union Budget 2022-23