Union Budget 2022: Major Announcement From Tax Return Policy to Blockchain, Read Everything Here

Union Budget 2022: Major Announcement From Tax Return Policy to Blockchain, Read Everything Here

Finally, the big union budget of 2022 is here. Being an important issue for the country, every single individual is keeping an eye on it. Honorable finance minister, Nirmala Sitharaman has already reached the parliament. The announcement is expected to stir up issues related to education, employment, tax, digital rupee, and much more. Have a close look at the new Union Budget 2022 here.

Union Budget 2022 Updates

  • As per the new budget, 60 lakhs will be provided by the government under the ‘Make in India’ movement
  • Spectrum auction will be carried out to facilitate 5G roll-out by private telecom players
  • Ken Betwa Linking project will provide drinking water to 62 lakh people, 27 MW solar power, and 103 MW hydropower. The estimated cost will be Rs. 44,605 crores.
  • Digital rupee will get issued that makes use of blockchain & other technologies. It will boost the economy of our country.
  • Rs. 1 lakh crores are allocated to states to catalyze overall investment. It will be used for PM Gati Shakti-related & other productive capital investments.
  • Taxpayers can update IT returns within 2 years
  • Tax deduction increases from 10% to 14% for both center and state government employees
  • Construction of 80 lakh houses will be done under PM Awas Yojana in urban and rural areas
  • 30% tax will be charged on income from virtual digital assets along with 1% tax on the transaction
  • 15% tax will be charged on income from Long Term Capital Gains
  • Custom duty on diamonds or gemstones will be reduced by 5% to facilitate the export of jewelry through e-commerce
  • Under Pradhan Mantri E-Vidya Yojana, a one-class scheme will be expanded from 12 to 200 TV channels
  • Education will be provided for Class I to XII students in their regional languages
  • The digital university will be introduced for promoting learning through digital means

FM Nirmala Sitharaman will be announcing on other matters as well that will be updated here soon. 

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