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Foundation To Steer Economy For 25 Years, Says Nirmala Sitharaman

Corona NewsFoundation To Steer Economy For 25 Years, Says Nirmala Sitharaman

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Union Budget 2022 Live Updates: Foundation To Steer Economy For 25 Years, Says Nirmala Sitharaman

Union Budget 2022 live updates: Nirmala Sitharaman is reading out the Budget

New Delhi:

Finance Minister Nirmala Sitharaman is presenting the Union Budget 2022 in the second year of the COVID-19 pandemic. “We strive to provide necessary ecosystem for middle class. This Budget hopes to lay the foundation for Amrit Kal from India at 75 to India at 100,” Ms Sitharaman said today. This is also the sixth Budget session to be held since the outbreak of the pandemic in January 2020. The key elements of the Union Budget 2022 that are being keenly watched include, among other things, individual income tax, Provident Fund, pensions and spending on healthcare, which has been one of the most active sectors due to rising medical claims. Agriculture and farm subsidies – by their very fundamental effect on India’s economic growth – and after the big controversy over the now-withdrawn three farm laws, are likely to get the maximum attention from the government. The Union Budget 2022 also comes in a month when assembly elections will be held in five states.

Here are the live updates of Union Budget 2022 announcements:

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Union Budget 2020 Live Updates: Amrit Kal from India at 75 to India at 100
“We strive to provide necessary ecosystem for middle class. This Budget hopes to lay the foundation for Amrit Kal from India at 75 to India at 100,” Ms Sitharaman said today.

Union Budget 2020 Live Updates: On COVID-19 pandemic
“We are confident of withstanding challenges amid the COVID-19 pandemic”: Nirmala Sitharaman

Union Budget 2020 Live Updates: Nirmala Sitharaman starts Budget speech
Finance Minister Nirmala Sitharaman has started the Budget speech.

Union Budget 2020 Live Updates: Union Cabinet approves Budget
Before the actual presentation, the Cabinet headed by Prime Minister Narendra Modi has approved the Budget for the fiscal year 2022-23.

Union Budget 2020 Live Updates: Union Ministers arrive in parliament

Defence Minister Rajnath Singh, Home Minister Amit Shah; Railways, Communications and IT Minister Ashwini Vaishnaw, Parliamentary Affairs Minister Pralhad Joshi, and others arrive at parliament for the union cabinet meeting ahead of the Budget presentation.

Union Budget 2020 Live Updates: COVID-19 spending

India had started the world’s largest COVID-19 inoculation programme on January 16, 2021. The expenditure on vaccination this fiscal, as well as in the next would be the most-watched figures in the Budget. The Budget estimate for vaccine expenditure for the current fiscal was Rs 35,000 crore.

Union Budget 2020 Live Updates: Disinvestment and privatisation targets

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.

Union Budget 2020 Live Updates: Budget amid pandemic
Finance Minister Nirmala Sitharaman would use the Union Budget as the cornerstone to put the economy on an accelerated growth path after the impact caused by the COVID-19 pandemic.

Union Budget 2020 Live Updates: What it takes to reach $5 trillion economy

With a goal to reach a $5 trillion economy by fiscal 2025, capital expenditure allocation is expected to continue to remain higher while healthy tax revenues and mega disinvestment pipeline may help contain the fiscal deficit to 5 per cent in fiscal 2023.

Union Budget 2020 Live Updates: What’s in store for NGOs
Setting up a separate ministry and creating special scheme on digital literacy for the elderly are among the recommendations made by some NGOs for the upcoming budget.

Union Budget 2020 Live Updates: Paperless budget

Finance Minister Nirmala Sitharaman will present Budget 2022 in a paperless format like last year. She was seen this morning carrying a tablet encased in a red sleeve with the national emblem embossed on it.

Union Budget 2020 Live Updates: Tax revenue

The government has budgeted a 9.5 per cent growth in tax collections at Rs 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.

Union Budget 2020 Live Updates: Documents reach parliament

A truck loaded with Union Budget 2022 copies arrives at parliament.

Union Budget 2020 Live Updates: Finance Minister meets President

Finance Minister Nirmala Sitharaman along with Ministers of State for Finance Bhagwat Kishanrao Karad and Pankaj Chaudhary, and senior officials of the Ministry of Finance, called on President Ram Nath Kovind before presenting the Union Budget 2022.

Union Budget 2020 Live Updates: Growing risks of global inflation

A government report on Tuesday warned that growing risks of global inflation led by rising crude oil prices could hit the economy, while projecting growth of 8% to 8.5% next fiscal year compared to 9.2% in current fiscal year and 6.6% contraction in the previous year.

Union Budget 2020 Live Updates: In the markets
Sensex rises 582.85 points, currently at 58,597.02. Nifty up by 156.20 points, currently at 17,496.05.

Union Budget 2020 Live Updates: Strong revival in revenue receipts
The strong revival in revenue receipts, which rose 67% during April-November period from a year earlier implied that the government has a “fiscal space to provide additional support if necessary”, Sanjeev Sanyal, principal economic adviser at the Finance Ministry told.

Union Budget 2020 Live Updates: No bahi khata

Finance Minister Nirmala Sitharaman leaves from the Ministry of Finance’s office. She will present and read out the Union Budget 2022 at parliament through a tab, instead of the traditional ‘bahi khata’.

Union Budget 2020 Live Updates: “Opposition should cooperate”

“PM Modi expects that every group – be it the ruling side or the opposition – should sit together and listen to the presenting of the Budget and cooperate”: MoS Finance Bhagwat Karad

Union Budget 2020 Live Updates: Minister offers prayers at home ahead of Budget presentation

Minister of State for Finance Bhagwat Karad offers prayers at his home ahead of the Union Budget 2022 presentation in parliament today.

Union Budget 2020 Live Updates: Nirmala Sitharaman arrives at Finance Ministry
Finance Minister Nirmala Sitharaman arrives at the Ministry of Finance. She will present the Union Budget in parliament at 11 am.

Union Budget 2020 Live Updates: No major changes in corporate and individual taxes?
To attract investments that create jobs and spur growth, Finance Minister Nirmala Sitharaman could also boost incentives tied to production in more industries. Food processing and exports are two areas that could see more production-linked incentives, and no major budget changes were likely on individual and corporate taxes, in view of rising government debt and subdued private investments.

Union Budget 2020 Live Updates: Inclusive Budget, says Union Minister

“Finance Minister Nirmala Sitharaman will present an inclusive budget, in line with each and every sectors’ needs. It will benefit everyone… All sectors (including farmers) should have expectations from today’s budget”: Minister of State for Finance Pankaj Chaudhary

Union Budget 2022: Relief for struggling consumers

The government looks unlikely to offer any major relief measures to struggling consumers, focusing instead on beefing up spending on transport and healthcare networks, which analysts estimate could rise between 12% and 25% in the next fiscal year.

Union Budget 2022: What worries policymakers
Policymakers are worried that private consumption, which makes up nearly 55% of GDP, is still below pre-pandemic levels amid rising levels of household debt, while retail prices have increased by nearly 10% since the coronavirus outbreak began in early 2020.

Union Budget 2022: More Spending On Roads, Railways
Finance minister Nirmala Sitharaman is expected to announce more spending on roads, railways, besides higher subsidies for affordable housing amid growing public criticism over inadequate relief following the economic disruption after the outbreak of pandemic in 2020.

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