The rise in the Center’s interest burden is expected to continue in the FY 2022-23. Initially, it was pushed up by a large amount of borrowings during the course of the Covid-19 pandemic in FY 2021-22. In the current fiscal year, which is 2021-22, the estimated budget of the interest payment on the central government’s …
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 …
According to sources, the budget session 2022 of Parliament will begin on Monday, January 31, 2022, with President Ram Nath Kovind addressing both chambers. The session will be split into two halves, with the first ending on February 11 and the second on February 18. Part two of the session, which will begin on March …
Nirmala Sitharaman, the Finance Minister, will submit her fourth Union Budget on February 1st. The novel coronavirus type that has entered India is expected to have a negative impact on the economy this year. This will be reflected in the financial markets, which have become more volatile in the run-up to the annual event. Any …
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 …
February 1, 2022, saw Nirmala Sitharaman, India’s finance minister, introduce the 2022-2023 Union budget. The 92-minute speech provided by her indicated the Government’s commitment to offsetting the adverse impacts caused by the pandemic. One of the most striking features of the proposed budget was the priority provided to growth as well as to the expansion …
The Union Budget 2022 speech did not have mentions or changes in tax measures for the larger public. Union Budget 2022-23 did not modify the personal income tax rates. In addition, the minister did not enhance the standard deduction, which was expected in light of rising prices and the pandemic’s effect on the middle class. …
India’s finance minister, Nirmala Sitharaman on February 1st, 2022 gave an hour and a half long speech wherein she outlined the proposed union budget 2022-2023. The value of a budget cannot be stressed enough as it outlines how the government plans to impose taxes and spend its money. This year, the budget gave special attention …
With a plan to enlarge the reach of financial services to the customers at the last mile, Finance Minister Nirmala Sitharaman in her Union Budget 2022, announced connecting the 1.5 lakh post offices to the core banking system. She also announced a plan to establish digital banking units (DBUs) by scheduled commercial banks in 75 …
Finance Minister Nirmala Sitharaman kept the income tax rates unchanged in her budget for the 2022 fiscal year, which was largely infrastructure-focused. The following 10 things should be known by individual taxpayers: 1. When a property is sold, the tax is computed using the selling price or the property’s stamp duty value. TDS on such …
