Finance Minister Nirmala Sitharaman presented the Union Budget in Parliament on 1 February 2022. This is the Minister’s fourth Union Budget in Parliament and the second paperless budget given the ongoing COVID-19 pandemic.
The Finance Minister said the Budget is based on six important pillars — inclusive development, productivity enhancement, energy transition and climate action. This is also her shortest budget speech so far. The Finance Minister spoke for 1 hour and 30 minutes.
Experts are calling this budget welfare-oriented with a great thrust on infrastructure, mental health, education and real estate.
Things to know:
- There has been no change in the income tax slabs.
- Existing tax benefits for startups, which were offered redemption of taxes for three consecutive years, to be extended by one more year.
- ‘One class, one TV channel’ is a program under the eVIDYA scheme, which will be extended to reach 200 TV channels. This will help state governments provide supplementary…