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As the Union Budget 2022 approaches, Editorji takes a look at the basic details and concepts.

Budget basics explained: The what when who and why 

Finance Minister Nirmala Sitharaman to present the union budget 2022 at 11 am on February 1. What is a budget and some more details you must know

All about the union budget

Budget 2022: The longest presentation by the finance minister was of two hours and 40 minutes in 2020 budget speech.

As the <a href="https://www.editorji.com/business-news/budget">Union Budget 2022</a> approaches,&nbsp;Editorji takes a look at the basic details and concepts:
<h3>What is a union budget?</h3>
The union budget is the annual financial statement prepared by the Finance Ministry that includes budgeted receipts and expenditures of the government for a fiscal year. A fiscal year starts from April 1 and ends on March 31.
<h3>Details of the event</h3>
The budget is presented at around 11 AM on February 1 by the finance minister of India. The current finance minister of India is Nirmala Sitharaman. The budget used to be presented on the last day of February before 2016.
<h3>The budget speech</h3>
The presentation could last anywhere from 90 to 120 minutes. The longest presentation by the finance minister was of two hours and 40 minutes in 2020 budget speech.
<h3>The two parts of the budget</h3>
Broadly there are two parts of the budget. The first one includes the prevailing economic condition and the budgeted expenditure of the government for the upcoming financial year. While the second part includes taxes pr we can say the second part is about personal finance and the&nbsp;government's budgeted revenue.
Also Read |&nbsp;<a href="https://www.editorji.com/business-news/budget/budget-2022-will-the-ppf-contribution-limit-be-doubled-1641528968826">Budget 2022: Will the PPF contribution limit be doubled?</a>

The oscars may ask "Who are you wearing" but when it comes to 'red carpet' of the parliament it is about what you are carrying on the budget day. The word budget comes from the old French word bougette meaning "small leather purse" so it is no surprise that the piece of luggage steals the spotlight every year. But each finance minister has had a different style statement, we take a look back at the brief history of the budget briefcase.The suitcase with a monogram has colonial roots embossed, called the Gladstone Box after William E Gladstone who in 1860 started the annual custom of the Chancellor of the Exchequer holding up a red box to the press in Downing Street to symbolise the new budget of the UK government. Over the years we have seen different finance ministers dawn different styles, handpicking their 'handbags'. India's first finance minister RK Shanmukham Chetty carried a leather portfolio to present the first Budget in 1947As the finance minister, Manmohan Singh, who delivered the iconic 1991 economic liberalisation proposals, carried a black bag.In 1998-99, then finance minister Yashwant Sinha used a black coloured leather bag with straps and buckle.Pranab Mukherjee, as Prime Minister Manmohan Singh's finance minister, used a red briefcase similar to the Gladstone case of Britain.Pranab da passed on the baton of the briefcase to the 9 time presenter P Chidambaram who accessorised with the same look though using a softer leather.  The Late Arun Jaitley used three different briefcases in his three budgets though the style matched the traditional budget carrier. In 2019, Nirmala Sitharaman shed the 'colonial' briefcase to carry a red folder, a bahikhata,with the National Emblem wrapped with a ribbon.And with the promise of going completely paperless this year, the question what will the the digital bahikhata hold for this budget?

Budget 2022: From famous budget briefcases to the digital bahikhata

From the briefcase to the digital bahikhata! A brief history of the budget briefcase, the most talked about accessory in the financial world. 

A brief history of the famous budget briefcases to the digital bahikhata

The suitcase with a monogram has colonial roots embossed, called the&nbsp;Gladstone Box after William E Gladstone

The oscars may ask "Who are you wearing" but when it comes to 'red carpet' of the parliament it is about what you are carrying on the budget day.&nbsp; The word budget comes from&nbsp;the old French word bougette meaning "small leather purse" so it is no surprise that the piece of luggage steals the spotlight every year.&nbsp; Also read and watch|&nbsp;<a title="Dear FM, a taxpayer's expectations and hopes from this budget" href="https://www.editorji.com/business-news/budget/dear-fm-a-taxpayer-s-expectations-and-hopes-from-this-budget-1642736193401">Dear FM, a taxpayer's expectations and hopes from this budget</a> But each finance minister has had a different style statement, we take a look back at the brief history of the budget briefcase. The suitcase with a monogram has colonial roots embossed, called the&nbsp;Gladstone Box after William E Gladstone who in 1860 started the annual custom of the Chancellor of the Exchequer holding up a red box to the press in Downing Street to symbolise the new budget of the UK government.&nbsp; Over the years we have seen different finance ministers dawn different styles, handpicking their 'handbags'.&nbsp; India's first finance minister RK Shanmukham Chetty carried a leather portfolio to present the first Budget in 1947 As the finance minister, Manmohan Singh, who delivered the iconic 1991 economic liberalisation proposals, carried a black bag. In 1998-99, then finance minister Yashwant Sinha used a black coloured leather bag with straps and buckle. Pranab Mukherjee, as Prime Minister Manmohan Singh's finance minister, used a red briefcase similar to the Gladstone case of Britain. Pranab&nbsp;da passed on the baton of the briefcase to the 9 time presenter P&nbsp;Chidambaram&nbsp;who accessorised&nbsp;with the same look though using a softer leather.&nbsp;&nbsp; The Late&nbsp;Arun Jaitley used three different briefcases in his three budgets though the style matched the traditional budget carrier.&nbsp; In 2019, Nirmala Sitharaman&nbsp;shed the 'colonial' briefcase to carry a red folder, a <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">bahikhata</a>,with the National Emblem wrapped with a ribbon. And with the promise of going completely paperless this year, the big question remains, will the digital bahikhata&nbsp;be able to balance a billion expectations?&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;

Prime Minister Narendra Modi on Wednesday said that the house provided under the PM’s scheme has turned the poor into “lakhpatis”.

PM Narendra Modi on Budget 2022: we turned women into 'malkins', poor into 'lakhpatis'

We turned women into 'malkins', poor into 'lakhpatis': PM Modi on Budget 2022

PM Modi on Budget 2022: we turned women into 'malkins', poor into 'lakhpatis'

Prime Minister&nbsp;Narendra Modi,&nbsp;while addressing party workers on the Union Budget,&nbsp;on Wednesday said that the house provided under the PM&rsquo;s scheme has turned the poor into &ldquo;lakhpatis&rdquo;.
&ldquo;In the last seven years, we have given 3 crore poor people&nbsp;pucca&nbsp;houses, and made them lakhpatis. Those who lived in slums, have their own houses. Our government has increased the price and size of these houses. Out of this, most of the houses are in the name of women. We have made women &ldquo;maalkins&rdquo; (owners),&rdquo; he said. SOT
&nbsp;

PM said that the houses provided under the PM&rsquo;s scheme have turned the poor into lakhpatis. &ldquo;In the last seven years, we have given 3 cr&nbsp;poor people pucca houses, and made them lakhpatis," he said.

Prime Minister&nbsp;Narendra Modi&nbsp;on Wednesday said that the house provided under the PM&rsquo;s scheme has turned the poor into &ldquo;lakhpatis&rdquo;. &ldquo;In the last seven years, we have given 3 crore poor people&nbsp;pucca&nbsp;houses, and made them lakhpatis. Those who lived in slums, have their own houses. Our government has increased the price and size of these houses. Out of this, most of the houses are in the name of women. We have made women &ldquo;maalkins&rdquo; (owners),&rdquo; he said.
Also Watch:&nbsp;<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 Election 2022: Priyanka lashes out at Nirmala over 'UP type' comment, calls it insult to UP</a> &ldquo;There is a possibility of a new world order post-Covid pandemic. Today, the world&rsquo;s perspective of looking at India has changed a lot. Now, the world wants to see a stronger India,&rdquo; he said while addressing party workers on the <a href="https://www.editorji.com/business-news/budget" target="_blank">Union Budget 2022</a>.
Also Watch:&nbsp;<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">Budget 2022 Live Updates: Record Capex, Tax on Crypto &amp; No Income Tax relief for middle class</a>

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;

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>

Finance Minister Nirmala Sitharaman announced National Tele Mental Health Programme in Budget 2022-23. 

Budget 2022: FM welcomes National Tele Mental Health Programme

Finance Minister Nirmala Sitharaman announced National Tele Mental Health Programme in Budget 2022-23. Here's what experts have to say!

Budget 2022: FM welcomes National Tele Mental Health Programme, here's what experts have to say 

"The use of telemedicine to diagnose and treat mental health patients has proved to be highly effective. Given the shortage of mental health professionals, especially in rural areas, telemedicine will greatly enhance accessibility for patients requiring psychiatric help."- Dr. Rana Mehta, Partner and Leader Healthcare, PwC India&nbsp;
"The national tele-mental health program announced by the FM in this year's budget is a commendable move. Alongside economical needs, the pandemic has highlighted the importance of physical and mental well-being. It will help people prioritise mental health and reduce the stigma associated with it." -Zahara Kanchwalla, Co-founder &amp; CEO, Rite KnowledgeLabs
"National Tele Mental Health Program for the Mental Health Counselling is another great initiative by the government as people have suffered a lot during the lockdown and pandemic. This can surely degrade the rate of depression and other mental health disorders among the people."&nbsp;- Kabir Bansal, Founder and Director, Medvraksh

Finance Minister Nirmala Sitharaman announced National Tele Mental Health Programme in Budget 2022-23.

Recognising the impact of the Covid-19 pandemic on people's mental health, Finance Minister Nirmala Sitharaman announced in her Budget 2022 speech that the Centre will be launching a National Tele Mental Health programme.
Also watch:&nbsp;<a href="https://www.editorji.com/business-news/budget/budget-2022-govt-to-launch-tele-mental-health-program-all-you-need-to-know-1643709182654">Budget 2022: Govt to launch tele-mental health program: all you need to know</a>
The Finance Minister said that the National Tele Mental Health programme would include a network of 23 Tele mental health centres of excellence. National Institute of Mental Health and Neuro Sciences (Nimhans) will be the nodal centre and IIT Bangalore will provide technological support for the mental health programme.
Here's what experts feel about the big announcement:
"The use of telemedicine to diagnose and treat mental health patients has proved to be highly effective. Given the shortage of mental health professionals, especially in rural areas, telemedicine will greatly enhance accessibility for patients requiring psychiatric help."- Dr. Rana Mehta, Partner and Leader Healthcare, PwC India&nbsp;
"The national tele-mental health program announced by the FM in this year's budget is a commendable move. Alongside economical needs, the pandemic has highlighted the importance of physical and mental well-being. It will help people prioritise mental health and reduce the stigma associated with it." -Zahara Kanchwalla, Co-founder &amp; CEO, Rite KnowledgeLabs
"National Tele Mental Health Program for the Mental Health Counselling is another great initiative by the government as people have suffered a lot during the lockdown and pandemic. This can surely degrade the rate of depression and other mental health disorders among the people."&nbsp;- Kabir Bansal, Founder and Director, Medvraksh

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>

With important events like the Commonwealth Games, Asian Games lined up this year, the sports budget for the fiscal year 2022-23 got a big boost of Rs 300 crore, as per the Union Budget that was presented by the Finance minister Nirmala Sitharaman in the Lok Sabha on Tuesday. The sports budget for 2021-22 was 2757.02 crore and with the big increment of 305.58 crore, the budget for this fiscal year will be 3062.60 which also amounts to the highest ever sports budget. The government has also allocated more funds to the National Youth Empowerment program and Khelo India. While last year 108 was spent on the former this year 138 have been allocated. Last year Khelo India got 879 crore, this year the amount has increased to 879 crore.  

Budget 2022: Centre allocates ₹3062.60 crore to sports 

The sports budget has been increased by Rs 305 crore which makes it the biggest allocation to Sports in India's history

Budget 2022: Highest ever Sports Budget with 11% hike

The central government has allocated more funds to the National Youth Empowerment program and Khelo&nbsp;India.

With important events like the Commonwealth Games, Asian Games lined up this year, the sports budget for the fiscal year 2022-23 has been increased by Rs 300 crore, as per the Union Budget that was presented by the Finance minister Nirmala&nbsp;Sitharaman&nbsp;in the&nbsp;Lok&nbsp;Sabha on Tuesday.&nbsp; Also Read&nbsp;<a href="https://www.editorji.com/business-news/budget/pm-praises-budget-2022-as-people-friendly-and-progressive-1643711682716">PM Narendra Modi praises Budget 2022 as 'people-friendly and progressive'</a> The sports budget for 2021-22 was 2757.02 crore&nbsp;and with the big increment of 305.58 crore, the budget for this fiscal year will be 3062.60 which also makes it the biggest ever sports budget.&nbsp; The government has also allocated more funds to the National Youth Empowerment program and Khelo&nbsp;India. While last year Rs 108 crore was spent on the former this year 138 have been allocated. Last year Khelo&nbsp;India got 879 crore, this year the amount has increased to 879 crore.&nbsp;&nbsp;

An AVGC task force, for the promotion of animation, visual effects, gaming, and comics, will be set up in the country, FM Nirmala Sitharaman said during her presentation

Budget 2022: AVGC promotion task force set up to promote animation, gaming, and comics

An AVGC task force, for the promotion of animation, visual effects, gaming, and comics, will be set up in the country.

An AVGC task force, for the promotion of animation, visual effects, gaming, and comics, will be set up in the country.

Budget 2022: An AVGC task force, for the promotion of animation, visual effects, gaming, and comics, will be set up in the country, Finance Minister Nirmala Sitharaman said during her presentation of the <a href="https://www.editorji.com/business-news/budget" target="_blank">Union Budget</a>. "Animation, Visual Effects, Gaming, and Comics (AVGC) task force will be set up to build domestic capacity to serve our markets and global demand,&rdquo; she said.
The task force will focus on building domestic capacity to help serve both Indian and global markets in the aforementioned sectors. The Finance Minister added that the sector offered immense potential to employ youth.
<a href="https://www.editorji.com/tech-news/budget-2022-electronics-manufacturing-to-get-concessions-in-customs-duty-1643711697388" target="_blank">Budget 2022: Electronics manufacturing to get concessions in customs duty</a>
The announcement was welcomed by the industry. &ldquo;The AVGC Task force is a huge step by the Government to promote the sector. We wholeheartedly welcome it,&rdquo; said FICCI AVGC-XR Forum co-chairman Munjal Shroff.
In a recent report, the Confederation of Indian Industry (CII) and Boston Consulting Group (BCG) had projected that India&rsquo;s media and entertainment industry, which is currently valued at $27 billion, would grow to a $55 - 70 billion industry by 2030. It also said that the industry's next phase of growth will be led by OTT, gaming, VFX and animation.
<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>

FM Nirmala Sitharaman announced during the Budget speech in parliament that concessions in customs duty will be given to manufacturers of consumer electronics device.

Budget 2022: Electronics manufacturing to get concessions in customs duty

Concessions in customs duty will be given to manufacturers of consumer electronics devices, to promote manufacturing across wearables and specific mobile phone components.

Concessions in customs duty will be given to manufacturers of consumer electronics devices, to promote manufacturing across wearables and specific mobile phone components.

Union Budget 2022: Finance Minister Nirmala Sitharaman announced during the <a href="https://www.editorji.com/business-news/budget" target="_blank">Union Budget</a> speech in parliament that concessions in customs duty will be given to manufacturers of consumer electronics devices, to promote manufacturing across wearables and specific mobile phone components.
"Customs duty rates have been calibrated to provide a greater rate structure to facilitate domestic manufacturing of wearable devices, shareable devices, and electronic smart meters. Duty concessions are being given to parts of transformer of mobile phone, chargers, camera lens of mobile camera module, and certain other such items. This will enable domestic manufacturing of high growth electronic items," the Finance Minister said.
<a href="https://www.editorji.com/business-news/budget/budget-2022-digital-rupee-to-be-issued-by-rbi-in-2022-23-1643701108102" target="_blank">Budget 2022: Digital rupee to be issued by RBI in 2022-23</a>
This concession in customs duties comes at a time when the industry has been facing a massive shortage in components, particularly chipsets, which has caused problems across the supply chain. Industry body Cellular Operators Association of India had estimated that high customs duty was disrupting the cost effectiveness of telecom companies. Around 85% of telecom equipment in India is imported.
<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 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>

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>

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>

Fiscal deficit at 6.9 per cent of GDP in 2021-22, 6.4 per cent in 2022-23.
In 2022-23, states will be allowed fiscal deficit of up to 4 pc of GSDP.&nbsp;

Budget 2022: Finance Minister says fiscal deficit in FY'22 was at 6.9%

Fiscal deficit at 6.9% of GDP in 2021-22, 6.4% in 2022-23

Fiscal deficit at 6.9% of GDP in 2021-22: Finance Minister

Fiscal deficit at 6.9 per cent of GDP in 2021-22, 6.4 per cent in 2022-23.
In 2022-23, states will be allowed fiscal deficit of up to 4 pc of GSDP.&nbsp;

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: Required spectrum auction for 5G rollout to be conducted in FY22-23.Contracts for laying optical fibres via PPP mode will be awarded in FY23

Budget 2022: Govt to conduct auction for 5G rollout in FY22-23

Sitharaman also informed that surety bonds will be made acceptable to reduce indirect costs for suppliers.

Nirmala&nbsp;Sitharaman also informed that surety bonds will be made acceptable to reduce indirect costs for suppliers.

Union Budget 2022 : New Delhi, Feb 1 (PTI) Finance Minister Nirmala Sitharaman on Tuesday said spectrum auction will be conducted to roll out 5G mobile services within 2022-23 by private firms.
In her<a href="https://www.editorji.com/business-news/budget" target="_blank"> Union Budget 2022-23</a> speech, she also said voluntary exit for corporates will be cut down to 6 months from 2 years.
<a href="https://www.editorji.com/business-news/budget/budget-2022-finance-minister-says-fy22-gdp-growth-estimated-at-9-2-1643696701385" target="_blank">Nirmala&nbsp;Sitharaman</a> also informed that surety bonds will be made acceptable to reduce indirect costs for suppliers.
<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>
While stating that 2,000 km of rail network will be brought under indigenous technology, KAWACH for safety and capacity augmentation, the finance minister also said 400 new generation Vande Bharat trains will be manufactured in the next three years. PTI MBI RKL MKJ
<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> &nbsp;

budget 2022

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