Back
PremiumUnion Budget 2022-23 will lay the foundation for India's economic growth and expansion for the next 25 years, Finance Minister Nirmala Sitharaman said while presenting the budget in the Lok Sabha on Tuesday.
Union Budget 2022 comes at a crucial juncture for the public and policymakers alike for the following reasons: 1) upcoming elections in five states, 2) looming omicron threat, 3) nascent economic recovery, and 4) key numbers like fiscal deficit, tax collection, and spending outlook.
Prime Minister Narendra Modi-led govt expects to lead the world in economic growth this year in a post-pandemic bounceback, according to Economic Survey 2022.
For her fourth budget presentation, Union Finance Minister Nirmala Sitharaman kept her look simple and elegant, sporting a crisp rusty brown saree with off-white border detailing that spread throughout the sides.
Ahead of the presentation of the Union Budget 2022-23, a truck loaded with budget copies arrived at Parliament on Tuesday.
Prime Minister Narendra Modi arrives at the Parliament ahead of the Budget presentation.
Disinvestment/Privatisation: The government has rarely met the high disinvestment targets set in Budgets. With a focus on privatisation and keeping in mind fiscal consolidation and capital expenditure, the number would be closely watched.
Tax revenue: The government has budgeted a 9.5 per cent growth in tax collections at ₹22.2 lakh crore for the 2021-22 fiscal (April-March, 2022). With Economic Survey projecting a GDP growth of 8-8.5 per cent in the next fiscal, the buoyancy in tax revenue too would be closely watched.
Fiscal Deficit: The budgeted fiscal deficit, which is the difference between the government expenditure and income, for the current fiscal ending March 2021 is 6.8 per cent, against 9.3 per cent in the last fiscal. The number for the 2022-23 fiscal would be in focus.
Budget documents being checked before being taken into parliament
“While the Government has supported and given few benefits like cut off on stamp duty, all time low home loan rates, the upcoming budget must continue to support real estate sector as it is a significant contributor to the GDP of the country. The real estate industry seeks continued low interest rates for next 2 to 3 years and GST on the component basis at 8%. The government should also focus on changing the definition of affordable housing" - Dhaval Ajmera, director of Ajmera realty and infra ltd.
Hours ahead of the presentation of the Union Budget on Tuesday, equity indices opened in green with the Sensex up by 662.6 points and Nifty up by 175.00 points. The 30-scrip BSE Sensex was up by 662.6 points or 1.14 per cent at 58,676.77 at 9.24 am.
Similarly, 50-scrip NSE Nifty was trading at 17,514.85 at 9.24 am, up by 175.00 points or 1.01 per cent.
In line with last year’s budget, it is expected that health and well-being will be on the top of the list in Budget 2022. Read full story
Finance Minister Sitharaman to address press conference post-presentation of Union Budget 2022-23 in Parliament at 03.45 PM.
Union Finance Minister Nirmala Sitharaman will present the Budget 2022-23 in a paperless format for the second year in a row. She was seen carrying a tablet kept inside a red coloured folder. Read more
MoS finance Bhagwat Karad offers prayers ahead of Union Budget
Sensex jumps nearly 600 points ahead of budget presentation; Nifty above 17,450
Finance Minister Nirmala Sitharaman on Tuesday called on President Ram Nath Kovind before presenting the Union Budget 2021-22.
Union Finance Minister Nirmala Sitharaman leaves the Ministry of Finance.
She will present and read out the #Budget2022 at the Parliament through a tab, instead of the traditional 'bahi khata'.
"Today is a very auspicious day for the country. Finance Minister Nirmala Sitharaman will present the Union Budget today. Whatever will be presented in the Budget today, I will fully support it," he said while addressing the reporters. Read more
Income taxpayers across the nation are awaiting Nirmala Sitharaman's response to ICAI's suggestion to raise the annual limit of Section 80C from current ₹1.50 lakh to ₹3.0 lakh. Read full story
One can watch the LIVE presentation of Nirmala Sitharaman's Budget for the fiscal year 2022-2023 on Lok Sabha, PIB, DD News TV channels. People can also watch on other news channels and YouTube. Read more
Finance Minister Nirmala Sitharaman will present an inclusive budget, in line with each and every sectors' needs. It will be benefiting everyone...All sectors (including farmers) should have expectations from today's budget: MoS Finance Pankaj Chaudhary
Finance Minister Nirmala Sitharaman arrives at North Block
“We expect the government to focus on fiscal consolidation. We expect the next year fiscal deficit to be around 6 % of GDP. The government will target aggressive divestment and facilitate steps for inclusion of Indian bonds in the global bond fund index . this will reduce supply pressure of government bonds in the domestic markets and control abrupt upward movement in government bond yields."
Murthy Nagarajan, Head-Fixed Income, Tata Mutual Fund.
MoS finance Pankaj Chaudhary and Bhagwat Karad arrives at the ministry of finance
"Government in this budget is expected to improve the consumption and focus on reviving growth in the economy especially in the rural segment. Budget can take certain measures to improve consumption at the bottom of the pyramid, like more allocation to MANREGA, rural road development, PM Aawaas yojna etc. Also, there could be focus and more allocation to infrastructure spend. Which could benefit sectors like, engineering capital goods, Infra and also cement" - Rajesh Bhatia - MD & CIO - ITI Long Short Equity Fund.
The Economic Survey projected the Indian economy to expand 8.5% in FY23, continuing its world-beating growth after an estimated 9.2% expansion in the current fiscal year.
Here are three rules that could help one avoid being misled by the data packed into this annual statement. Read here
FM Sitharaman will table the Narendra Modi government's 10th Union Budget in Parliament at 11 am today. This will be the fourth budget presentation by Sitharaman.
American companies having a foothold in India and those planning to expand their business in the fastest growing economy of the world expect “tax parity" in the annual budget to be tabled by Finance Minister Nirmala Sitharaman, the head of a top India-centric US business advocacy group said.
India is set to present an annual budget topping $500 billion Tuesday, in one of its most keenly watched economic events seen pivotal to sustaining the nation’s recovery from pandemic-induced disruptions. Read more
The Budget 2022 will be presented on February 1 at 11 am. It will be telecast live on Lok Sabha TV (Sansad TV) the official parliament channel and on Doordarshan.
At 18,650 words, Manmohan Singh delivered the longest Budget speech in terms of words in 1991 under the Narasimha Rao government.
In 2018, then finance minister Arun Jaitley's speech with 18,604 words was the second-longest in terms of word count. Jaitley spoke for 1 hour and 49 minutes.
Hello and welcome to Livemint's LIVE coverage of Union Budget 2022.
