The Indian Railways will get a capital expenditure boost of Rs 2.45 lakh crore in the financial year 2022-23, which is 14% more than the current financial year’s scheduled capital expenditure of Rs 2.15 lakh crore. The funding will be used to construct railway lines, wagons, and trains, as well as electrification, signaling, and station …
On Tuesday, Feb 1, 2022, Honourable Finance Minister Nirmala Sitharaman announced various proposals in the Fiscal Budget 2022-23. India is the third-largest emerging economy from the Asian pack of countries. Keeping that in mind, the FM conveyed that the budget has been drafted to prepare the nation by laying a solid foundation for economic growth. …
The Union Budget 2022 was a much-anticipated event: after two long years, we were likely seeing the light at the end of the pandemic tunnel; growth had returned with a vengeance in recent quarters; PLI schemes had provided a significant boost to several sectors, particularly manufacturing; and capital markets were reflecting the economy’s positive sentiment …
During the introduction of the Union Budget 2022-23 on Tuesday, Finance Minister Nirmala Sitharaman told Parliament that the Center’s Production Linked Incentive (PLI) Scheme has the potential to generate 60 lakh new employment over the next five years. “The PLI Scheme for obtaining Atma Nirbhar Bharat has had a great response, with the potential to …
In the Union Budget on Tuesday, Finance Minister Nirmala Sitharaman revealed that the Pradhan Mantri Awas Yojana would build up to 80 lakh houses by 2023. For the construction of these dwellings, the Budget allotted Rs 48,000 crore under PMAY urban and rural. These moves, according to the finance minister, would assist to enhance the …
As the Indian economy carves a path for itself that moves away from the pandemic-induced slump, the value of the Union Budget 2022-2023 outlined on February 1, 2022, gains credence. This budget is pertinent as it makes clear the foundation for economic growth via public investment. The 2022-2023 budget has given a considerable amount of …
The Foreign Trade Policy (FTP) is an important element in the Union Government’s strategy to promote India’s export growth. The purpose behind this policy is to create a healthy environment for the country’s businesses to thrive. The FTP aims to support the country’s economic growth by making foreign trade a major contributor. The FTP has …
The budget for Indian Railways is set to be presented alongside the general budget on Tuesday, 1 February 2022. Evidently, financial years 2021 and 2022 witnessed a sharp decline in economic activities due to the pandemic. As a result, a comparison between targets set for the previous years with the upcoming fiscal year will not …
Finance Minister Nirmala Sitharaman, during her Budget speech of 2020, introduced a new income tax regime to make the assessment process easy for the taxpayers and the administrators. The FM highlighted various exemptions and deductions in the Income Tax Act, which make it difficult for the taxpayers to comply with. It was also pointed out …
The COVID-19 pandemic led to many issues plaguing India’s education sector that need to be redressed in the Union Budget 2022. Industry experts expect the government to allocate funds for this sector and reduce its tax burden. The announcement of New Education Policy (NEP) 2020 was a significant development in the education sector in the …
