LIVE Streaming of Union Budget 2022
02-Feb-2022
Dept. of Business Administration-MBA had arranged for the LIVE streaming of Union Budget-2022 in the Seminar Hall presented by Finance Minister, Nirmala Sitharaman, on 1st Feb, 2022. Faculty and first year MBA students viewed the Budget Presentation and made notes for further analysis.
Key Highlights of Union Budget 2022:
• Entering Amrit Kaal, the 25 year long lead up to India @100, the budget provides impetus for growth along four priorities: PM GatiShakti, Inclusive Development, Productivity Enhancement & Investment, Sunrise opportunities, Energy Transition, and Climate Action, Financing of investments
• 2000 Km of railway network to be brought under Kavach, the indigenous world class technology and capacity augmentation in 2022-23.
• 400 new generation Vande Bharat Trains to be manufactured during the next three years.
• Rs. 2.37 Lakhs Crore direct payment to 1.63 crore farmers for procurement of wheat and paddy.
• ‘Kisan Drones’ for crop assessment, digitization of land records, spraying of insecticides and nutrients.
• Raising and Accelerating MSME performance (RAMP) programme with outlay of Rs 6000 Crore to be rolled out.
• ‘One Class-One TV channel’ programme of PM eVIDYA to be expanded to 200 TV channels
• Special Economic Zones Act to be replaced with a new legislation to enable States to become partners in ‘Development of Enterprise and Service Hubs’.
• Introduction of Digital Rupee by the Reserve Bank of India starting 2022-23.
• Alternate Minimum Tax paid by cooperatives brought down from 18.5 per cent to 15 per cent.
• Tax deduction limit increased from 10 per cent to 14 per cent on employer’s contribution to the NPS account of State Government employees.
• Any surcharge or cess on income and profits not allowable as business expenditure.
• GST revenues are buoyant despite the pandemic – Taxpayers deserve applause for this growth.
• Any income from transfer of any virtual digital asset to be taxed at the rate of 30 per cent.
The takeaways and reforms of Union Budget 2022 shall be presented by the students in groups, targeting 15 prime sectors like Education, Manufacturing, Agriculture, Health Care, Fiscal and so on.
