5 Big Highlights Of The Budget

Finance Minister Nirmala Sitharaman presented the 2022 budget today. (Representational)
  1. No change in income tax: With no change in slabs, corporate and personal income tax rates remain unchanged. 
  2. Total expenditure Rs 39.5 lakh crore, up only 4.8 per cent: Last year's rise was 7.4 per cent from 35.1 lakh crores in the previous financial year to 37.7 lakh crore. 
  3. 60 lakh 'Make-In-India' jobs: "Production Linked Incentive(PLI) Scheme for achieving Aatma Nirbhar Bharat has received an excellent response with a potential to create 60 lakh new jobs and additional production of 30 lakh crore during the next five years," the Finance Minister said today. 
  4. 30 per cent tax on transfer of virtual digital assets: Any income from transfer of any virtual digital asset will be taxed at the rate of 30 per cent, Ms Sitharaman said today, adding that "no deduction in respect of any expenditure or allowance to be allowed while computing such income except the cost of acquisition."
  5. Digital currency by the RBI to be introduced: The government has proposed to introduce "Digital Rupee",  using blockchain and other technologies. "It will be issued by the Reserve Bank of India starting 2022-23 for more efficient and cheaper currency management system," the Finance Minister said. 
     
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