FM Nirmala Sitharam paved the way for easier cheaper and long term financing for data centres and energy storage giving a big boost India's richest from Ambani to Adani

Union Budget 2022: How the budget provided a boost for Adani, Ambani and Sunil Mittal

With a thrust Digital drive and climate action the budget may have ignored the hopes of the middle class but has given businesses a boost hoping for a trickle down impact. The FM announced easier cheaper and long term financing for data centres and energy  data centers and energy storage as the govt classified them under the precious infra tag

Easy and cheaper money now for Ambani, Adani and Mittal 

Tto classify data centers and energy storage as infrastructure assets&nbsp;

Digital drive and climate action getting the thrust this&nbsp;<a href="https://www.editorji.com/business-news/budget" target="_blank">budget&nbsp;</a> the FM paved the way for easier cheaper and long term&nbsp;financing for data centres and energy storage giving a big boost India's richest from Ambani to Adani.&nbsp; Data Centres and Energy Storage Systems including dense charging infrastructure and grid-scale battery systems will be included in the harmonized list of infrastructure, announced Finance Minister, <a href="https://www.editorji.com/business-news/budget-2022-nirmala-sitharaman-at-parliament-with-her-bahi-khata-set-to-present-her-4th-budget-1643688639572" target="_blank">Nirmala Sitharaman</a>. This will facilitate credit availability for digital infrastructure and clean energy storage." Also watch:&nbsp;<a title="Forgot it ...then fix it! Tax payers get 2 years to report 'overlooked' income" href="https://www.editorji.com/business-news/personal-finance/forgot-it-then-fix-it-tax-payers-get-2-years-to-report-overlooked-income-1643772243376">Forgot it ...then fix it! Tax payers get 2 years to report 'overlooked' income</a> Ironically it is India's richest who will not have any hurdles in financing that will benefit from this . The <a href="https://www.editorji.com/story/adani-stock-saga-allegation-clarification-confusion-1623732075029" target="_blank">Adani Group</a> plans to initially&nbsp;build data centers&nbsp;in Mumbai, Chennai, Hyderabad and in and around New Delhi.&nbsp;Sunil Mittal&nbsp;backed Airtel&nbsp;to invest $671 million to triple its data center capacity to 400 megawatts by 2025. The India's richest man Mukesh&nbsp;Ambani's&nbsp;Reliance&rsquo;s digital unit has also been looking to build a data center, according to a local media&nbsp;report.
Also Watch:&nbsp;<a href="https://www.editorji.com/liveblog/budget/budget-2022-live-updates-fm-nirmala-sitharaman-to-present-budget-at-11-am-today-26" target="_blank">Budget 2022 Live Updates: Record Capex, Tax on Crypto &amp; No Income Tax relief for middle class</a>

Forgot it, now file it later: The FM in a hope to increase compliance and reduce litigation, is giving tax payers  a chance to to disclose or rather update all taxable.

New ITR norms, 2 year window to file overlooked income

This option will also be available to those who haven’t filed a tax return previously for the relevant assessment year. These changes will come into effect from April, 2022

The new ITR norm from FM - Forgot it ...then fix it! 

Memes&nbsp;highlighting the missing&nbsp;middle class this budget have flooded the internet&nbsp;as any hope of tax reduction or deduction was overlooked, but there are a few amendments that could apply tou you and help you get some relief. EJ Biz gets you the amendments in taxes that you may have overlooked.

The new timeline has been introduced to replace the current deadline of either three months before the end of the assessment year.

Forgot it, now file it later: The FM in a hope to increase compliance and reduce litigation, is giving tax payers&nbsp; a chance to to disclose or rather update&nbsp;all taxable income. The <a href="https://www.editorji.com/business-news/budget" target="_blank">budget</a> announced a new 2-year window for assessees&nbsp;to file an 'updated' return if any income was overlooked or missed while filing tax returns.&nbsp; When reporting such additional income, the <a href="https://www.editorji.com/story/18-000-crore-of-refunds-to-i-t-taxpayer-sitharaman-1589368556873" target="_blank">taxpayer</a> would also be required to pay additional tax at the rate of 25% if the updated return is filed between one to 12 months or 50% on the additional tax if the updated return is filed between 13 to 24 months from the end of relevant assessment year but before the commencement of proceedings.
<a href="https://www.editorji.com/business-news/budget/dear-fm-a-taxpayer-s-expectations-and-hopes-from-this-budget-1642736193401" target="_blank">Budget 2022: What does the salaried class expect from Nirmala Sitharaman's budget?</a> &nbsp; The updated return cannot be filed to report additional loss or decrease in the tax liability. The tax is required to be paid before the filing of the updated tax return and the proof to that extent is required to be attached while filing updated return.
Also Watch:&nbsp;<a href="https://www.editorji.com/liveblog/budget/budget-2022-live-updates-fm-nirmala-sitharaman-to-present-budget-at-11-am-today-26" target="_blank">Budget 2022 Live Updates: Record Capex, Tax on Crypto &amp; No Income Tax relief for middle class</a>
This option will also be available to those who haven&rsquo;t filed a <a href="https://www.editorji.com/business-news/personal-finance/itr-filing-5-mistakes-that-you-should-avoid-while-filing-income-tax-returns-1638166783878" target="_blank">tax return</a> previously for the relevant assessment year. These changes will come into effect from April, 2022

Central bank digital currencies or CBDCs are legal tender created by the central bank of a nation. The only difference between digital currency and traditional cash

Budget 2022: What is digital rupee that RBI will introduce? All you need to know

In a big boost to India's digital economy, Finance Minister Nirmala Sitharaman announced in her budget speech, that the RBI will soon introduce a digital rupee - using blockchain and other technology in 2022-23. here's all you need to know.

VIDEO MODE
((opening bite)) Nirmala Sitharaman, Finance Minister (from budget speech) "A digital rupee will be issued using blockchain technology by the RBI starting 2022-23. This will give a big boost to the economy"
VO: In a big boost to India's digital economy, Finance Minister Nirmala Sitharaman announced in her budget speech, that the RBI will soon introduce a Digital Rupee - using blockchain and other technology in 2022-23.&nbsp;The move comes amid deliberation over the regulation of cryptocurrency.
Here's all you need to know about the digital rupee.
TEXT PLATE: What is digital currency?
SUPER: Central bank digital currencies (CBDCs) are official legal tender
SUPER: Digital Rupee will be backed by the Reserve Bank of India
Central bank digital currencies or CBDCs are legal tender created by the central bank of a nation.&nbsp;The only difference between digital currency and traditional cash is that CBDCs are digital.
But unlike other cryptocurrencies that are DeFi or decentralised financial tokens, CBDCs are backed by the central bank just like all other currencies.&nbsp;So, the Digital Rupee is essentially going to be the digital representation of a rupee backed by the Reserve Bank of India (RBI).
 TEXT PLATE: But, why have a Digital Rupee?
SUPER: Users will be able to use Digital Rupees via a wallet
SUPER: Blockchain-backed wallets can be regulated by RBI
Right now, you keep your money in a bank account, where it exists digitally.&nbsp;But what if some of your funds could live in an account run by the RBI, and you could access it with a digital wallet?&nbsp;That&rsquo;s the basic idea behind the Digital Rupee, and experts hope that it will fix some of the problems in traditional banking.
The operative word is here regulation. The CBDC is a digital form of fiat currency which can be transacted using wallets that are backed by blockchain and can be regulated by the RBI.
 TEXT PLATE: What are the pros of a digital currency?
#1&nbsp;Pro: low volatility
SUPER: One Digital Rupee is same in value as one paper Rupee
Unlike cryptocurrencies, such as Bitcoin, a Digital Rupee would be worth exactly that: one rupee. The digital &ldquo;token&rdquo; held by the owner is backed and guaranteed by the RBI, so there is no question as to its value.
#2&nbsp;Pro: efficiency
SUPER: Digital Rupee would operate exactly like cash, but digitally
While normal digital transactions might seem instantaneous, there is a vast web of digital infrastructure underpinning a simple bank or money transfer, requiring multiple exchanges of information between financial services providers. A digital rupee would operate like cash, that is, all the information needed to verify that a transaction has taken place exists within the token stored in a digital wallet. When a payment is made, that information is encoded in the token itself, making that information a permanent element of the token.
#3&nbsp;Pro: global accessibility
SUPER: Digital Rupee can be used in cross-border &amp; domestic transactions
A digital rupee could be used around the world, in both cross-border and domestic transactions, which do not require a third party or a bank.&nbsp;This essentially means, with wider Internet&nbsp;and smartphone penetration, CBDCs could help bring about massive financial inclusion.
TEXT PLATE: Do other nations have digital&nbsp;currencies?
India is not the first nation looking to introduce a digital currency.
SUPER: China plans to launch its digital currency, e-CNY this year
China, for example is leading the experiment with the e-Yuan. The e-Yuan or e-CNY is basically China&rsquo;s answer to the cryptocurrency challenge, and is set for rapid take-off on its expected launch in 2022. It is a centralized, cash-like digital currency that is expected to be primarily used for retail payments in China.
SUPER: US Fed is working on a plan to launch the Digital Dollar
In the United States, the federal reserve is stepping up development of a plan that could result in the issuance of a digitized version of the U.S. dollar.
As world powers rethink how money will be exchanged in the future, India clearly doesn't want to be left behind.

<div class="article-head-block margin-bt20px">
The digital rupee will be a digital depiction of an Indian rupee supported by the Reserve Bank of India (RBI).
</div>

In a big boost to India's digital economy, Finance Minister Nirmala Sitharaman announced in her <a href="https://www.editorji.com/business-news/budget" target="_blank">budget speech</a>, that the RBI will soon introduce a digital rupee - using blockchain and other technology in 2022-23.&nbsp;The move comes amid deliberation over the regulation of cryptocurrency.
<h2>Here's all you need to know about the digital rupee.</h2>
<h2>What is digital currency or Central bank digital currencies (CBDCs)?</h2>
Central bank digital currencies or CBDCs are legal tender created by the central bank of a nation.&nbsp;The only difference between digital currency and traditional cash is that CBDCs are digital.
But unlike other cryptocurrencies that are DeFi or decentralised financial tokens, CBDCs are backed by the central bank just like all other currencies.
So, the <a href="https://www.editorji.com/business-news/budget/budget-2022-digital-rupee-to-be-issued-by-rbi-in-2022-23-1643701108102" target="_blank">digital rupee</a> is essentially going to be the digital representation of a rupee backed by the Reserve Bank of India (RBI).
<h2>But, why have a digital rupee?</h2>
Right now, you keep your money in a bank account, where it exists digitally.
But what if some of your funds could live in an account run by the RBI, and you could access it with a digital wallet?
That&rsquo;s the basic idea behind the digital rupee, and experts hope that it will fix some of the problems in traditional banking.
The operative word is here regulation. The CBDC is a digital form of fiat currency which can be transacted using wallets that are backed by blockchain and can be regulated by the RBI.
<h2>How would the digital rupee work?</h2>
Digital money is like the paper rupees that you take out from an ATM. The digital rupee wouldn&rsquo;t completely replace all paper currencies, so you could still withdraw cash, but a portion of the reserve would be made available digitally.
Though the concept of Central bank digital currencies or CBDCs, was directly inspired by cyptocurrencies like the Bitcoin, it is different from decentralised virtual currencies and crypto assets, which are not issued by the state and lack the &lsquo;legal tender&rsquo; status.
So, it essentially means that the digital rupee is as good as a physical rupee for all transactions. A digital rupee will have the same value as the physical rupee.
<a href="https://www.editorji.com/business-news/cryptocurrency/crypto-bill-digital-currency-vs-cryptocurrency-what-s-the-difference-1637738627963" target="_blank">Digital currencies</a> are easy to use, just as the introduction of UPI made digital cash easier to use.
<h2>What are the pros of a digital currency?</h2>
<h3>#1&nbsp;Pro: low volatility</h3>
Unlike <a href="https://www.editorji.com/business-news/cryptocurrency" target="_blank">cryptocurrencies, such as Bitcoin</a>, a digital rupee would be worth exactly that: one rupee. The digital &ldquo;token&rdquo; held by the owner is backed and guaranteed by the RBI, so there is no question as to its value.
<h3>#2&nbsp;Pro: efficiency</h3>
While normal digital transactions might seem instantaneous, there is a vast web of digital infrastructure underpinning a simple bank or money transfer, requiring multiple exchanges of information between financial services providers. A digital rupee would operate like cash, that is, all the information needed to verify that a transaction has taken place exists within the token stored in a digital wallet. When a payment is made, that information is encoded in the token itself, making that information a permanent element of the token.
<h3>#3&nbsp;Pro: global accessibility</h3>
A digital rupee could be used around the world, in both cross-border and domestic transactions, which do not require a third party or a bank.
Also Watch:&nbsp;<a href="https://www.editorji.com/liveblog/budget/budget-2022-live-updates-fm-nirmala-sitharaman-to-present-budget-at-11-am-today-26" target="_blank">Budget 2022 Live Updates: Record Capex,&nbsp;Tax on Crypto&nbsp;&amp; No Income Tax relief for middle class</a>
This essentially means, with wider Internet&nbsp;and smartphone penetration, CBDCs could help bring about massive financial inclusion.
<h2>Do other nations have digital&nbsp;currencies?</h2>
India is not the first nation looking to introduce a digital currency.
China, for example is leading the experiment with the e-Yuan. The e-Yuan or e-CNY is basically China&rsquo;s answer to the cryptocurrency challenge, and is set for rapid take-off on its expected launch in 2022. It is a centralized, cash-like digital currency that is expected to be primarily used for retail payments in China.
In the United States, the federal reserve is stepping up development of a plan that could result in the issuance of a digitized version of the U.S. dollar.
As world powers rethink how money will be exchanged in the future, India clearly doesn't want to be left behind.
Also Watch:&nbsp;<a href="https://www.editorji.com/business-news/cryptocurrency/crypto-bill-digital-currency-vs-cryptocurrency-what-s-the-difference-1637738627963" target="_blank">Crypto Bill: Digital Currency Vs. Cryptocurrency &ndash; What&rsquo;s the difference?</a>

Union Budget 2022: Former finance minister P Chidambaram said it was govt's 'bull-headed obduracy' to say that it was working towards welfare of the poor. 

'Govt lying that it's people's budget': Oppn slams Modi govt

Former finance minister P Chidambaram said it was govt's&nbsp;'bull-headed obduracy' to say that it was working towards welfare of the poor.&nbsp;

As Prime Minister Narendra&nbsp;Modi, union ministers and senior BJP leaders congratulated Finance Minister Nirmala&nbsp;Sitharaman&nbsp;for presenting '<a href="https://www.editorji.com/business-news/budget" target="_blank">people's budget</a>', opposition leaders criticised the govt for a 'rich people' budget.&nbsp;
Former finance minister P Chidambaram said it was govt's&nbsp;'bull-headed obduracy' to say that it was working towards welfare of the poor.&nbsp;
Former union minister Sachin&nbsp;Pilot said that govt had not mentioned the poor, unemployed or youth in the budget.&nbsp;
Also watch:&nbsp;<a href="https://www.editorji.com/business-news/budget/top-5-takeaways-from-union-budget-2022-1643706009651">Top 5 takeaways from Union Budget 2022</a>
'This not a common people's budget, it is not a budget for the farmers and it is also not a budget for women,' Shiv&nbsp;Sena&nbsp;MP Priyanka Chaturvedi said.
Also Watch:<a href="https://www.editorji.com/liveblog/budget/budget-2022-live-updates-fm-nirmala-sitharaman-to-present-budget-at-11-am-today-26" target="_blank">&nbsp;Budget 2022 Live Updates: Record Capex, Tax on Crypto &amp; No Income Tax relief for middle class</a>

For every rupee in the government coffer, 58 paise will come from direct and indirect taxes, 35 paise from borrowings and other liabilities, 5 paise from non-tax revenue like disinvestment and 2 paise from non-debt capital receipts, according to the Budget documents for 2022-23.
According to the Union Budget 2022-23 presented in Parliament by Finance Minister Nirmala Sitharaman on Tuesday, goods and services tax will contribute 16 paise in every rupee revenue, while corporation tax will contribute 15 paise to each rupee earned.
The government is also looking to earn 7 paise for every rupee from Union excise duty and 5 paise from customs duty. Income tax will yield 15 paise to every rupee collection.
The collection from 'borrowings and other liabilities' will be 35 paise, according to the Budget 2022-23.
On the expenditure side, the biggest outlay component is interest payments at 20 paise for every rupee, followed by the states' share of taxes and duties at 17 paise.
Allocation for the defence stood at 8 paise.
Expenditure on central sector schemes will be 15 paise, while the allocation for centrally-sponsored schemes will be 9 paise.
The expenditure on the 'Finance Commission and other transfers' is pegged at 10 paise. Subsidies and pension will account for 8 paise and 4 paise, respectively, in each rupee spending.
The government will spend 9 paise in every rupee on 'other expenditures'.

Budget 2022: For every rupee in govt coffer, 58 paise to come from taxes

The collection from 'borrowings and other liabilities' will be 35 paise, according to the Budget 2022-23.

Every govt rupee has 58 paisa coming from tax money

Government's major source of revenue to come from the taxes, almost 58%.

For every rupee in the government coffer, 58 paise will come from direct and indirect taxes, 35 paise from borrowings and other liabilities, 5 paise from non-tax revenue like disinvestment and 2 paise from non-debt capital receipts, according to the Budget documents for 2022-23.
According to the Union Budget 2022-23 presented in Parliament by Finance Minister Nirmala Sitharaman on Tuesday, goods and services tax will contribute 16 paise in every rupee revenue, while corporation tax will contribute 15 paise to each rupee earned.
The government is also looking to earn 7 paise for every rupee from Union excise duty and 5 paise from customs duty. Income tax will yield 15 paise to every rupee collection.
The collection from 'borrowings and other liabilities' will be 35 paise, according to the Budget 2022-23.
On the expenditure side, the biggest outlay component is interest payments at 20 paise for every rupee, followed by the states' share of taxes and duties at 17 paise.
Allocation for the defence stood at 8 paise.
Expenditure on central sector schemes will be 15 paise, while the allocation for centrally-sponsored schemes will be 9 paise.
The expenditure on the 'Finance Commission and other transfers' is pegged at 10 paise. Subsidies and pension will account for 8 paise and 4 paise, respectively, in each rupee spending.
The government will spend 9 paise in every rupee on 'other expenditures'.

"This budget is full of new possibilities for more infrastructure, more investment, more growth, and more jobs," the prime minister narendra modi said

PM Narendra Modi praises Budget 2022 as 'people-friendly and progressive'

Prime Minister Narendra Modi has praised this year's Budget as 'people-friendly and progressive'

PM praises Budget 2022 as 'people-friendly and progressive'

I congratulate Finance Minister Nirmala Sitharaman for this 'People Friendly and Progressive budget'.
This budget brings in new hopes and opportunities for the people. It strengthens the economy; it's full of 'more infrastructure, more investment, more growth and more jobs'. There is also a new provision of green jobs; budget ensures a bright future for youth: PM
PM: Youth and middle class will benefit greatly from Digital Currency, Digital Banking, NHM ecosystem
PM: Natural farming along the banks of Ganga will give a boost to farmer

'An important aspect of this budget is the welfare of the poor,' Narendra&nbsp;Modi said

Union Budget 2022: Welfare of the poor is an important aspect of the Union Budget which is full of possibilities for more investments, infrastructure and jobs, Prime Minister <a href="https://www.editorji.com/business-news/budget/debate-with-open-mind-to-take-india-forward-pm-modi-ahead-of-budget-session-1643607886740" target="_blank">Narendra Modi</a> said on Tuesday.
Calling the budget "people-friendly and progressive", Modi said it has brought new confidence to usher development in the midst of one the most terrible calamities in 100 years, a reference to the <a href="https://www.editorji.com/coronavirus" target="_blank">COVID-19</a> pandemic.
In his televised remarks on the Union Budget 2022-23 presented by Finance Minister Nirmala Sitharaman in Parliament, Modi said this budget will create many new opportunities for the common people, besides strengthening the economy.
"This budget is full of new possibilities for more infrastructure, more investment, more growth, and more jobs," the prime minister said, adding that it will also open up the field of green jobs.
Also watch:&nbsp;<a href="https://www.editorji.com/business-news/budget/top-5-takeaways-from-union-budget-2022-1643706009651" target="_blank">Top 5 takeaways from Union Budget 2022</a>
"An important aspect of this budget is the welfare of the poor," Modi said.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a bigger Rs 39.45 lakh crore <a href="https://www.editorji.com/business-news/budget" target="_blank">Union Budget</a>, with higher spending in areas like highways and affordable housing with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic.
While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates.
<a href="https://www.editorji.com/liveblog/budget/budget-2022-live-updates-fm-nirmala-sitharaman-to-present-budget-at-11-am-today-26" target="_blank">Budget 2022 Live Updates: Record Capex,&nbsp;Tax on Crypto&nbsp;&amp; No Income Tax relief for middle class</a>

The budget announced plans to start a digital currency and tax crypto assets, as India is striding to keep pace with the global move towards virtual financial instrument

Crypto taxed but not recognised, blockchain backers rejoice 

Crypto taxed but not recognised but blockchain backers rejoice 

Byte crypto&nbsp;- just the part that virtual assets will be taxed..&nbsp;

Social media flooded with support of recognition and regulation in sight.&nbsp;

Budget 2022:&nbsp;Crypto&nbsp;may have a taxing time ahead but the FM has given digital token enthusiasts a seat at the table. The budget announced plans to start a <a href="https://www.editorji.com/business-news/budget/budget-2022-digital-rupee-to-be-issued-by-rbi-in-2022-23-1643701108102" target="_blank">digital currency</a> and tax crypto assets, as India is striding to keep pace with the global move towards virtual financial instruments. The 30% tax has not deterred the crypto&nbsp;backers with social media flooded with support of recognition and regulation in sight.&nbsp;
As the crypto&nbsp;enthusiasts in India were seeking clarity on the <a href="https://www.editorji.com/business-news/cryptocurrency" target="_blank">cryptocurrencies</a>, this came in as a celebration, even as the founder of India's biggest crypto&nbsp;exchange WazirX&nbsp;stated it was a step towards positive crypto regulations.
<a href="https://www.editorji.com/liveblog/budget/budget-2022-live-updates-fm-nirmala-sitharaman-to-present-budget-at-11-am-today-26#post-1390" target="_blank">Budget 2022 Live Updates: Record Capex, Tax on Crypto &amp; No Income Tax relief for middle class&nbsp;</a>
"Hope to see a reduction of crypto ban fear in India. Lot to unpack here but overall this is a very positive step forward for crypto ecosystem in India," Nischal&nbsp;Shetty, founder and CEO&nbsp;of WazirX&nbsp;wrote in a tweet. &nbsp; Gautam Chhugani, a crypto&nbsp;backer, tweeted, "30% is a small cost to pay for legitimacy! I know Dubai has zero tax etc. but building crypto for a market like India is truly transformative! When they see the <a href="https://www.editorji.com/business-news/cryptocurrency/crypto-taxed-but-not-recognised-but-blockchain-backers-rejoice-1643709082124" target="_blank">crypto tax</a> revenues, they will go &amp; then govt. will write policies on how to attract more crypto to India."
<a href="https://www.editorji.com/business-news/budget/congress-on-budget-2022-how-is-govt-imposing-tax-when-cryptocurrency-isn-t-legal-1643706582979" target="_blank">Congress on Budget 2022: How is govt imposing tax when cryptocurrency isn't legal?</a>
<a href="https://www.editorji.com/business-news/budget/pm-praises-budget-2022-as-people-friendly-and-progressive-1643711682716" target="_blank">PM Narendra Modi praises Budget 2022 as 'people-friendly and progressive'</a>

Congress general secretary and chief spokesperson Randeep Surjewala said the salaried and the middle classes have been affected due to pay cuts and high inflation.

Congress on Budget 2022: How is govt imposing tax when cryptocurrency isn't legal?

The Congress on Tuesday accused Finance Minister Nirmala Sitharaman and Prime Minister Minister Narendra Modi of betraying the country's salaried and middle classes by not announcing any relief measures for them in the Union Budget.
Congress general secretary and chief spokesperson Randeep Surjewala said the salaried and the middle classes have been affected due to pay cuts and high inflation.
Surjewala said on Twitter that&nbsp;India's salaried class and middle class were hoping for relief in times of pandemic, all round pay cuts and back breaking inflation but the Modi&nbsp;government&nbsp;has again deeply disappointed them in Direct Tax measures.
Terming the document a "Nothing budget", he said there is nothing to increase spending and to promote small scale industry.
In his comments soon after the finance minister presented the budget for 2022-23 in Parliament, Surjewala also asked how the government was imposing tax on profit from crypto currencies when it is not clear if it is legal. The government has announced that any income from transfer of digital assets will be taxed at 30 per cent rate. This will impact gains from cryptocurrency and NFTs as well, which have seen a boom in India in recent times.
&nbsp;

The government has announced that any income from transfer of digital assets will be taxed at 30 per cent rate. This will impact gains from cryptocurrency and NFTs as well, which have seen a boom in India in recent times.

The Congress on Tuesday accused Finance Minister <a href="https://www.editorji.com/business-news/budget/budget-2022-nirmala-sitharaman-says-govt-focus-is-to-steer-economy-for-25-years-1643697312225" target="_blank">Nirmala Sitharaman</a> and Prime Minister <a href="https://www.editorji.com/india-news/pm-modi-on-budget-2022-we-turned-women-into-malkins-poor-into-lakhpatis-1643791506214" target="_blank">Narendra Modi</a> of betraying the country's salaried and middle classes by not announcing any relief measures for them in the Union Budget.
Congress general secretary and chief spokesperson <a href="https://www.editorji.com/india-news/politics/polls-not-tourism-congress-asks-tmc-to-introspect-if-it-is-strengthening-bjp-in-goa-1635257816710" target="_blank">Randeep Surjewala</a> said the salaried and the middle classes have been affected due to pay cuts and high inflation.
"India's salaried class and middle class were hoping for relief in times of pandemic, all round pay cuts and back breaking inflation. FM and PM have again deeply disappointed them in Direct Tax measures," Surjewala said on Twitter.
"This is a betrayal of India's Salaried Class and Middle Class. #Budget2022," he said in his initial remarks on the Union Budget.&nbsp; Terming the document a "Nothing budget", he said in a Twitter post in Hindi that it has nothing for the poor, the salaried and the middle classes as well as farmers and the youth &ldquo;whose pockets are empty&rdquo;. There is nothing, he added, to increase spending and to promote small scale industry.
Also watch:&nbsp;<a href="https://www.editorji.com/business-news/budget/budget-2022-india-to-tax-income-from-virtual-and-digital-assets-at-30-1643699089129" target="_blank">Budget 2022: India to tax income from virtual and digital assets at 30%</a>
In his comments soon after the finance minister presented the budget for 2022-23 in Parliament, Surjewala also asked how the government was imposing tax on profit from crypto currencies when it is not clear if it is legal.&nbsp;
<a href="https://www.editorji.com/business-news/cryptocurrency/crypto-taxed-but-not-recognised-but-blockchain-backers-rejoice-1643709082124" target="_blank">Crypto taxed but not recognised, blockchain backers rejoice&nbsp;</a>
"And Ms Finance Minister, please do tell the Nation - Is Crypto Currency now legal, without bringing the Crypto Currency Bill, as you tax the cryptocurrency? "What about its regulator? What about regulation of Crypto Exchanges? What about investor protection? #<a href="https://www.editorji.com/business-news/budget" target="_blank">Budget2022</a>," the Congress spokesperson said in another tweet. Congress leader Manickam Tagore added that it is a "pro-corporate" and "pro-rich" budget with nothing for the middle class and farmers.
"...Nothing for a jobless youth, Nothing for farmers.. Nothing for middle class.. Again Nirmala madam Fails... #Budget2022," Tagore, who is the Congress whip in the Lok Sabha, said on Twitter.
<a href="https://www.editorji.com/liveblog/budget/budget-2022-live-updates-fm-nirmala-sitharaman-to-present-budget-at-11-am-today-26" target="_blank">Budget 2022 Live Updates: Record Capex,&nbsp;Tax on Crypto&nbsp;&amp; No Income Tax relief for middle class</a>

The finance minister Nirmala Sitharaman said that the amount will be transferred to the bank accounts of 163 lakh farmers across the country. 

Amid push for MSP law, govt earmarks Rs 2.37 lakh crores for 163 lakh farmers

As farmers push for their demand on a Minimum Support Price law across India, Finance Minister Nirmala&nbsp;Sitharaman&nbsp;while presenting the union budget for this year said that her government has earmarked&nbsp;Rs 2.37 lakh crores&nbsp;which will be directly paid to the farmers as&nbsp;MSP.
The finance minister said that the amount will be transferred to the bank accounts of 163 lakh&nbsp;farmers across the country.&nbsp; SOT- NIRMALA

The finance minister said that the amount will be transferred to the bank accounts of 163 lakh&nbsp;farmers across the country.&nbsp;

As farmers push for their demand on a<a href="https://www.editorji.com/business-news/budget/budget-2022-rs-2-3-lakh-crore-to-be-directly-paid-as-msp-to-farmers-1643697465767" target="_blank"> Minimum Support Price(MSP)</a> law across India, Finance Minister&nbsp;Nirmala&nbsp;Sitharaman&nbsp;while presenting the <a href="https://www.editorji.com/business-news/budget" target="_blank">union budget</a> for this year said that her government has earmarked&nbsp;Rs 2.37 lakh crores&nbsp;which will be directly paid to the farmers as&nbsp;MSP. The finance minister&nbsp;Nirmala&nbsp;Sitharaman said that the amount will be transferred to the bank accounts of 163 lakh&nbsp;farmers across the country.&nbsp;
<a href="https://www.editorji.com/liveblog/budget/budget-2022-live-updates-fm-nirmala-sitharaman-to-present-budget-at-11-am-today-26" target="_blank">Budget 2022 Live Updates: Record Capex,&nbsp;Tax on Crypto&nbsp;&amp; No Income Tax relief for middle class</a> &nbsp; "Procurement of wheat in Rabi season 2021-22 and the estimated procurement of paddy in Kharif season 2021-22 will cover 1,208 lakh metric tonnes of wheat and paddy from 163 lakh farmers &amp; Rs 2.37 lakh crores will be the direct payment of MSP value to their accounts," she said.&nbsp;

Finance Minister Nirmala Sitharaman announces central bank digital currency, which will be a digital rupee using blockchain and other tech. It will be introduced by the RBI in 2022-23. 

Budget 2022:  Digital rupee to be issued by RBI in 2022-23

FM announces central bank digital currency, which will be a digital rupee using blockchain and other tech. It will be introduced by the RBI in 2022-23.

FM&nbsp;Nirmala&nbsp;Sitharaman announces central bank digital currency, which will be a digital rupee using blockchain and other tech. It will be introduced by the RBI in 2022-23.&nbsp;

Union Budget 2022: The Reserve Bank of India (RBI) will introduce digital currency in the next financial year beginning April 2022 to boost the digital economy and efficient currency management, Finance Minister Nirmala Sitharaman proposed in her <a href="https://www.editorji.com/business-news/budget" target="_blank">Budget 2022-23</a> speech on Tuesday.
The introduction of a central bank digital currency will give a big boost to the digital economy. Digital currency will also help in the currency management system, the minister said.
"<a href="https://www.editorji.com/business-news/cryptocurrency/crypto-bill-digital-currency-vs-cryptocurrency-what-s-the-difference-1637738627963" target="_blank">Digital currency</a> will also lead to a more efficient and cheaper currency management system. It is therefore proposed to introduce digital rupee using blockchain and other technologies to be issued by the Reserve Bank of India, starting 2022-23," Sitharaman said.
She also said Rs 1 lakh crore financial assistance to states will be provided in 2022-23 to catalyse investments.
<a href="https://www.editorji.com/liveblog/budget/budget-2022-live-updates-fm-nirmala-sitharaman-to-present-budget-at-11-am-today-26" target="_blank">Budget 2022 Live Updates: Record Capex,&nbsp;Tax on Crypto&nbsp;&amp; No Income Tax relief for middle class</a>
The finance minister further said that in 2022-23, states will be allowed a fiscal deficit of up to 4 pc of GSDP (Gross State Domestic Product).
The minister also proposed to set up an expert committee to examine and suggest appropriate measures to scale up venture capital and private equity investment.
Venture capital and private equity invested more than Rs 5.5 lakh crore last year, facilitating one of the largest startup and growth ecosystems. Scaling up this investment requires a holistic examination of regulatory and other frictions, she said.
On blended finance, she said that the government-backed Funds NIIF and SIDBI Fund of Funds had provided scale capital, creating a multiplier effect.
For encouraging important sunrise sectors, such as climate action, deep-tech, digital economy, pharma and agri-tech, the government would promote thematic funds for blended finance with the government share being limited to 20 per cent and the funds being managed by private fund managers, the minister said.
<a href="https://www.editorji.com/business-news/budget/top-5-takeaways-from-union-budget-2022-1643706009651" target="_blank">Top 5 takeaways from Union Budget 2022</a>

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Finance Minister Nirmala Sitharaman, while presenting the Union Budget, said a national tele-mental health program will be launched for mental health counselling. 

Budget 2022: Govt to launch tele-mental health program: all you need to know

Finance Minister Nirmala Sitharaman, while presenting the Union Budget, said a national tele-mental health program will be launched for mental health counselling. IIT Bangalore will provide tech support for the programme.
She also said an open platform for the National Digital Health Ecosystem will be rolled out.
SOT- LONGER NIRMALA
She said the government is focused on empowering the youths, women and the poor sections in the country, adding that the government's next target is to create 60 lakh jobs.

She said the government is focused on empowering the youths, women and the poor sections in the country, adding that the government's next target is to create 60 lakh jobs.

Union Budget 2022: Finance Minister Nirmala Sitharaman, while presenting the <a href="https://www.editorji.com/business-news/budget" target="_blank">Union Budget</a>, said a national tele-mental health program will be launched for mental health counselling. IIT Bangalore will provide tech support for the programme.
She also said an open platform for the National Digital Health Ecosystem will be rolled out.
"It will consist of digital registries of health providers and health facilities, unique health identity and universal access to health facilities," she said.
She said the government is focused on empowering the youths, women and the poor sections in the country, adding that the government's next target is to create 60 lakh jobs.
<a href="https://www.editorji.com/liveblog/budget/budget-2022-live-updates-fm-nirmala-sitharaman-to-present-budget-at-11-am-today-26#post-1390" target="_blank">Budget 2022 Live Updates: Record Capex,&nbsp;Tax on Crypto&nbsp;&amp; No Income Tax relief for middle class</a>

A BJP MP on Thursday told Rajya Sabha that industrialists like Ambani and Adani should be “worshipped” as they are creating jobs. BJP’s K J Alphons said while participating in the debate on the Union Budget.“You can accuse me of being a mouthpiece of the capitalists. The people who have created jobs in this country, let me name those people, because you have named them. Be it Reliance, be it Ambani, be it Adani, be it anybody, they must be worshipped,” Alphons said.
A former Union minister, Alphons argued that “global inequalities are a fact”. He said the opposition has argued that the wealth of two people has gone up and that Elon Musk’s wealth has gone up 1016 per cent
“Are you aware of this? The wealth of the founder of Google, Larry Page, has gone up 126 per cent. The wealth of Bezos has gone up 67 per cent. The lowest among all these top 10 is Bill Gates. His wealth has one up 30 per cent. Global inequality is a fact, whether you accept it or not. Three billion people in the world live below five dollars a day. So, global inequalities are a fact,” he said.
The opposition, on the other hand, accused the government of talking about “faceless” and “jobless” growth and argued that the government’s policies are widening income inequalities.

Unemployment woes: here's why this BJP MP thinks Ambani and Adani 'must be worshipped'

((MAKE A 7 SECOND MONTAGE OF SHOTS OF PROTEST OVER UNEMPLOYMENT- RUN ON NAT-SLOGANEERING)) ((CUT TO SOUND AND SHOTS OF MELEE&nbsp;IN RS- 3 SEC)) A heated exchange between the Opposition and ruling MPs&nbsp;over the recently presented budget saw a ruling BJP&nbsp;MP coming to the defence of country's two leading industrialists. For&nbsp;BJP MP industrialists like Ambani and Adani should be &ldquo;worshipped&rdquo; as they are creating jobs.&nbsp;
SOT FROM THURSDAY- &ldquo;You can accuse me of being a mouthpiece of the capitalists. The people who have created jobs in this country, let me name those people, because you have named them. Be it Reliance, be it Ambani, be it Adani, be it anybody, they must be worshipped,&rdquo; Alphons said.
A former Union minister, Alphons argued that &ldquo;global inequalities are a fact&rdquo;. He said the opposition has argued that the wealth of two people has gone up and pointed out that Elon Musk&rsquo;s wealth has gone up 1016 per cent
SOT: &ldquo;Are you aware of this? The wealth of the founder of Google, Larry Page, has gone up 126 per cent. The wealth of Bezos has gone up 67 per cent. The lowest among all these top 10 is Bill Gates. His wealth has one up 30 per cent. Global inequality is a fact, whether you accept it or not. Three billion people in the world live below five dollars a day. So, global inequalities are a fact,&rdquo; he said.
The opposition, on the other hand, accused the government of talking about &ldquo;faceless&rdquo; and &ldquo;jobless&rdquo; growth and argued that the government&rsquo;s policies are widening income inequalities.

The opposition, on the other hand, accused the government of talking about &ldquo;faceless&rdquo; and &ldquo;jobless&rdquo; growth and argued that the government&rsquo;s policies are widening income inequalities.

A BJP MP on Thursday told Rajya Sabha that industrialists like Ambani and Adani should be &ldquo;worshipped&rdquo; as they are creating jobs. BJP&rsquo;s K J Alphons said while participating in the debate on the Union Budget. &ldquo;You can accuse me of being a mouthpiece of the capitalists. The people who have created jobs in this country, let me name those people, because you have named them. Be it Reliance, be it Ambani, be it Adani, be it anybody, they must be worshipped,&rdquo; Alphons said.
A former Union minister, Alphons argued that &ldquo;global inequalities are a fact&rdquo;. He said the opposition has argued that the wealth of two people has gone up and that Elon Musk&rsquo;s wealth has gone up 1016 per cent.&nbsp;
Also Watch| <a href="https://www.editorji.com/india-news/over-9-100-indians-died-by-suicide-due-to-unemployment-in-3-years-govt-1644466466434" target="_blank">Over 9,100 Indians died by suicide due to unemployment in 3 years: Govt</a>
&ldquo;Are you aware of this? The wealth of the founder of Google, Larry Page, has gone up 126 per cent. The wealth of Bezos has gone up 67 per cent. The lowest among all these top 10 is Bill Gates. His wealth has one up 30 per cent. Global inequality is a fact, whether you accept it or not. Three billion people in the world live below five dollars a day. So, global inequalities are a fact,&rdquo; he said.
The opposition, on the other hand, accused the government of talking about &ldquo;faceless&rdquo; and &ldquo;jobless&rdquo; growth and argued that the government&rsquo;s policies are widening income inequalities.

'Upar shervani, andar...': Telangana CM's jibe at PM Modi
 

'Upar shervani, andar pareshani': Telangana CM KCR's jibe at PM Modi, calls Budget 2022 'golmaal'

In an apparent reference to the West Bengal elections, Telangana CM K Chandrasekhar Rao reportedly said that PM Modi grew his beard to appear like Rabindranath Tagore.

'Upar shervani, andar...': Telangana CM's jibe at PM Modi

VO: Telangana Chief Minister K. Chandrasekhar Rao reportedly took a dig at Prime Minister Narendra Modi's dress sense following the presentation of the Union Budget. KCR reportedly said that the Gujarat model touted by the BJP is "upar shervani, andar pareshani" which roughly means all style, no substance. In an apparent reference to the West Bengal elections, he reportedly said that the PM grew his beard to appear like Rabindranath Tagore. He added that in Tamil Nadu, Modi wears a lungi, in Punjab he wears a pagdi or turban, in Manipur, it's a Manipuri cap, and different headgear in Uttarakhand. The CM of the southern state reportedly called the Budget terrible and "golmaal", or bungled up. Interestingly, KCR will be meeting PM Modi on February 5 for an event regarding a statue of Saint Ramanujacharya near Hyderabad, as per reports. The Telangana Rashtra Samithi chief, who is reportedly trying to stitch up a front for the 2024 Lok Sabha elections, reportedly accused the BJP of lying blatantly using social media management, and playing communal politics of hate and division. The BJP criticised the Chief Minister for his comments.
&nbsp;
 BYTE (ANI - DELHI: TG VENKATESH (BJP) ON TELANGANA CM KCR STATEMENT (GIST) - These types of statements will hurt the some of the communities.&nbsp;He is trying to create unnecessary nuisance in the society)
&nbsp;
 VO: KCR is reportedly planning to meet Maharashtra counterpart and Shiv Sena chief Uddhav Thackeray soon regarding his plans for 2024. He had earlier met RJD leader Tejashwi Yadav, Tamil Nadu CM and DMK chief MK Stalin, and Kerala CM and Left leader Pinarayi Vijayan.

<div style="margin: 0px; padding: 0px; border: 0px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 12pt; line-height: inherit; font-family: Calibri, Arial, Helvetica, sans-serif; vertical-align: baseline; color: #000000; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 12pt; line-height: inherit; font-family: inherit; vertical-align: baseline; color: #000000; background-color: #ffffff;">In an apparent reference to the West Bengal elections, Telangana CM K Chandrasekhar Rao reportedly said that PM Modi grew his beard to appear like Rabindranath Tagore.</div>

Telangana Chief Minister K. Chandrasekhar Rao reportedly took a dig at Prime Minister Narendra Modi's dress sense following the presentation of the Union Budget.
KCR reportedly said that the Gujarat model touted by the BJP is "upar shervani, andar pareshani" which roughly means all style, no substance.&nbsp;In an apparent reference to the West Bengal elections, he reportedly said that the PM grew his beard to appear like Rabindranath Tagore.&nbsp;He added that in Tamil Nadu, Modi wears a lungi, in Punjab he wears a pagdi or turban, in Manipur, it's a Manipuri cap, and different headgear in Uttarakhand.
ALSO WATCH |&nbsp;<a href="https://www.editorji.com/india-news/telangana-cm-announces-rs-22-50-crore-compensation-for-750-farmer-who-died-during-farm-law-protest-1637491259079" target="_blank"> Telangana CM announces Rs 22.50 crore compensation for 750 farmer who died during farm law protest</a>
The CM of the southern state reportedly called the Budget terrible and "golmaal", or bungled up.
The BJP criticised the Chief Minister for his comments.
Interestingly, KCR will be meeting PM Modi on February 5 for an event regarding a statue of Saint Ramanujacharya near Hyderabad, as per reports.
The Telangana Rashtra Samithi chief, who is reportedly trying to stitch up a front for the 2024 Lok Sabha elections, reportedly accused the BJP of lying blatantly using social media management, and playing communal politics of hate and division.
KCR is reportedly planning to meet Maharashtra counterpart and Shiv Sena chief Uddhav Thackeray soon regarding his plans for 2024.&nbsp;He had earlier met RJD leader Tejashwi Yadav, Tamil Nadu CM and DMK chief MK Stalin, and Kerala CM and Left leader Pinarayi Vijayan.

An 85 per cent drop in allocation towards the vaccination program makes it clear that with 76% of adults in India fully vaccinated the free for all vaccine era may be coming to a close. So be ready to buy your own booster?In the budget for the 2021-22 financial year, touted as a health budget, Sitharaman had set aside Rs 35,000 crore for Covid vaccinations this year that figure has dwindled down to just Rs 5000 cr. The reason for the reduction, the document explains, is “lower requirement for vaccination” for Covid.The free vaccine program has boosted the world's largest inoculation drive having delivered 166 crore jabs till the end of Jan. Only about 5% of the 1.67 billion vaccine doses administered nationwide so far have been taken up through private hospitals.But as some experts opine the political cost of not continuing with the free campaign could be viewed as higher than the expenditure required for the campaign.To be able to make the vaccines available for private purchase the govt will have to give the vaccines 'full approval' vs the tag emergency authorisation they have currently. The subject expert committee (SEC) of India's central drug authority has already recommended the promotion in tag to the drug regulator. 

Buy your own booster...the hidden message as govt cuts jab budget by 85% ?

An 85 per cent drop in allocation towards the vaccination program makes it clear that with 76% of adults in India fully vaccinated the free for all vaccine era may be coming to a close. So be ready to buy your own booster?

Get set to buy our own booster

The allocation for medical and public health has gone down from Rs 74,820 crore in the 2021-22 financial year, to Rs 41,011 crore for the 2022-23 fiscal, a reduction of Rs 33,089 cr. T

Centre slashes Covid-19 vaccination budget for 2022-23 by 85%

An 85 per cent drop in allocation towards the vaccination program makes it clear that with 76% of adults in India fully vaccinated the free for all vaccine era may be coming to a close. So be ready to buy your own booster? In the budget for the 2021-22 financial year, touted as a health budget, Sitharaman had&nbsp;set aside&nbsp;Rs 35,000 crore for Covid vaccinations this year that figure has dwindled down to just Rs 5000 cr. The reason for the reduction, the document explains, is &ldquo;lower requirement for vaccination&rdquo; for&nbsp;Covid. The free vaccine program has boosted the world's largest inoculation&nbsp;drive having delivered 166 crore&nbsp;jabs till the end of Jan.&nbsp;Only about 5% of the 1.67 billion vaccine doses administered nationwide so far have been taken up through private hospitals. But as some experts opine the political cost of not continuing with the free campaign could be viewed as higher than the expenditure required for the campaign. Read/Watch Also: <a href="https://www.editorji.com/coronavirus/ej-explains-what-is-regular-market-approval-vs-emergency-use-approval-for-vaccines-1642651443422">Full market approval for jabs - what it means?</a> To be able to make the vaccines available for private purchase the govt will have to give the vaccines 'full approval' vs the tag emergency authorisation they have currently. The subject expert committee (SEC)&nbsp;of India's central drug authority has already recommended the promotion in tag to the drug regulator.&nbsp;

In an exclusive interview with Editorji, Sanjeev Sanyal, who headed the team responsible for preparing this year&rsquo;s Economic Survey speaks to Vikram&nbsp;Chandra on how the budget is just the building block for reform not just a platform for announcements.&nbsp;Growth can not just redistribute poverty, jobs and growth have to go together says Sanyal&nbsp;who highlights the recipe for reforms for the government.&nbsp;&nbsp;

EJ Exclusive: Sanjeev Sanyal on the recipe for reforms and the complete revamp of policy

The budget is no longer a one time reform exercise, it lays a broader vision: Sanjeev&nbsp;Sanyal

In an exclusive interview with Editorji, Sanjeev Sanyal, who headed the team responsible for preparing this year&rsquo;s Economic Survey speaks to Vikram&nbsp;Chandra on how the budget is just the building block for reform not just a platform for announcements.&nbsp;Growth can not just redistribute poverty, jobs and growth have to go together says Sanyal&nbsp;who highlights the recipe for reforms for the government.&nbsp; &nbsp;

Congress general secretary Priyanka Gandhi, who is leading party's charge in UP, has hit out at the Finance Minister over her "UP type" remark.

UP Election 2022: Priyanka Gandhi lashes out at Nirmala Sitharaman over 'UP type' comment, calls it insult to UP

UP Election 2022: Priyanka lashes out at Nirmala over 'UP type' comment, calls it insult to people of UP

UP Election 2022: Priyanka lashes out at Nirmala over 'UP type' comment, calls it insult to UP

Start with Nirmala Byte from PC: "I think he has given a typical UP type answer which is good enough for an MP who ran away from UP."
This snarky comment by Finance Minister Nirmala Sitharaman in response to Congress MP Rahul Gandhi's criticism of Budget has blown into a political war ahead of the Uttar Pradesh elections.
Congress general secretary Priyanka Gandhi, who is leading party's charge in UP, has hit out at the Finance Minister over her "UP type" remark.
Priyanka tweeted that Nirmala has insulted people of UP with her "UP type" comment.
You did not put anything in the budget for Uttar Pradesh. But what was the need to insult the people of UP like this? Understand, the people of UP are proud to be "UP type". We are proud of the language, dialect, culture and history of UP," Priyanka Gandhi tweeted.
Rahul&nbsp;Gandhi had earlier called the Budget a "Zero Sum Budget".
&nbsp;

Nirmala&nbsp;Sitharaman&nbsp;made the snarky&nbsp;"UP type" comment while responding to Rahul&nbsp;Gandhi's criticism of Union Budget 2022

The snarky "UP type" comment by Finance Minister Nirmala Sitharaman in response to Congress MP Rahul Gandhi's criticism of <a href="https://www.editorji.com/business-news/budget" target="_blank">Budget</a> has blown into a political war ahead of the Uttar Pradesh elections.
When asked about Rahul Gandhi calling the Budget a "Zero Sum Budget", the Finance Minister first asked her MoS&nbsp;Pankaj Chaudhary to respond, who said: "You said Rahul Gandhi has not understood the budget, it is actually true. Nirmala Sitharaman will answer hereafter, all I have to say is that the Budget will reap benefits for all and the same will be evident in some time."
Also Watch: <a href="https://www.editorji.com/india-news/pm-modi-on-budget-2022-we-turned-women-into-malkins-poor-into-lakhpatis-1643791506214" target="_blank">PM Modi on Budget 2022: we turned women into 'malkins', poor into 'lakhpatis'</a>&nbsp;
After that, Nirmala Sitharaman said: "I think he has given a typical UP type answer which is good enough for an MP who ran away from UP.".
Congress general secretary <a href="https://www.editorji.com/elections/up-elections/up-elections-2022-not-saying-i-am-cm-face-got-irritated-with-question-priyanka-1642836926866" target="_blank">Priyanka Gandhi</a>, who is leading party's charge in UP, has hit out at the Finance Minister over her "<a href="https://www.editorji.com/elections/up-elections/up-election-2022-priyanka-lashes-out-at-nirmala-over-up-type-comment-calls-it-insult-to-up-1643787841322" target="_blank">UP type" remark</a>.
Priyanka tweeted that Nirmala has "insulted" people of UP with her "UP type" comment.
Also Watch:&nbsp;<a href="https://www.editorji.com/liveblog/budget/budget-2022-live-updates-fm-nirmala-sitharaman-to-present-budget-at-11-am-today-26" target="_blank">Budget 2022 Live Updates: Record Capex, Tax on Crypto &amp; No Income Tax relief for middle class</a>
You did not put anything in the budget for Uttar Pradesh. But what was the need to insult the people of UP like this? Understand, the people of UP are proud to be "UP type". We are proud of the language, dialect, culture and history of UP," Priyanka Gandhi tweeted.
Also Watch:&nbsp;<a href="https://www.editorji.com/india-news/pm-modi-on-budget-2022-we-turned-women-into-malkins-poor-into-lakhpatis-1643791506214" target="_blank">PM Narendra Modi on Budget 2022: we turned women into 'malkins', poor into 'lakhpatis'</a> &nbsp;

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