Union Budget 2022

Union Budget 2022: Wealth tax or any other new tax will do more harm than good, cautions SBI Research

Regarding sector-specific suggestions, SBI Research said 6.33 crore MSME units in India contribute 29 per cent to India's GDP, employing over 11 crore workers. Credible source to verify cashflow and seamless access for banks to GST 4 /ITR on real-time basis should be allowed for lending to SMEs, it said.

Jan 20, 2022, 13:20 PM IST

Union Budget 2022: Centre expected to lower fiscal deficit target for FY23

Accordingly, industry watchers have estimated the FY23 fiscal deficit target to range from 5.8-6.4 per cent.

Jan 20, 2022, 11:54 AM IST

Union Budget 2022 to focus on fiscal consolidation while pushing private capex

The budget is likely to focus on gradual fiscal consolidation, continuing to favour investment-driven growth with a push for both public and private capex, and raising additional resources through strategic divestments and asset monetization.

Jan 20, 2022, 09:41 AM IST

Budget 2022 Expectations: Jewellers seek import duty cut on precious metals

GJEPC has urged the Centre to reduce import duty on precious metals such as gold, silver and platinum from 7.5 per cent to 4 per cent.

Jan 19, 2022, 23:20 PM IST

Budget 2022 Expectations: MSMEs hope for GST, TDS reductions, relaxation in compliances

MSMEs are requesting the government to provide special focus to recover the sector, reduction in GST, relaxation in compliances, address the issue of delayed payments, and ease of access to capital, among others.

Jan 19, 2022, 22:46 PM IST

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What is the Difference between union budget and interim budget ?

An Interim Budget is presented by the Government in the Parliament in case it has no time to present the complete budget. This generally happens when the elections are approaching and the Budget is to be presented before the voting is done. It is only justified if the ruling Government presents the Budget. Vote on Account passed through the interim budget and allows the Government to meet small expenditures before elections occur.

Jan 19, 2022, 21:30 PM IST

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Budget 2022: Historical Budgets Of India Which Got Different Names

Since independence, the full budget and interim budget have been presented many times in the country. During this, there were many such budgets, which were very popular due to their historical steps. Let us know about some such special budgets which got recognition by different names.

Jan 19, 2022, 21:10 PM IST

Budget 2022: Salaried class expect Rs 50,000 WFH bonus; tax slab, standard deduction changes

Nirmala Sitharaman will present the Union Budget on Febraury 1, 2022.

Jan 19, 2022, 20:53 PM IST

Union Budget 2022: Experts seek Universal health insurance in times of Covid

The Insurance industry has suffered huge blows during the pandemic.

Jan 19, 2022, 17:10 PM IST

Union Budget 2022: Why and when was Rail Budget merged with Union Budget? Interesting details

A separate Railway Budget was started by the British in 1924. Even after the merger, the distinct entity and the functional autonomy of the Railways, as was envisioned, has been maintained.

Jan 19, 2022, 16:17 PM IST

Union Budget 2022: Experts urge govt to introduce permanent dispute resolution process on the lines of Vivad se Vishwas Scheme

The ‘Vivad se Vishwas’ Scheme was announced during the Union Budget, 2020, to provide for dispute resolution in respect of pending income tax litigation.

Jan 19, 2022, 14:01 PM IST

Budget 2022: As salaried class demand hike in ITR bracket, check 10 options to save income tax other than 80C

The one thing that the common man will be eagerly waiting to hear from the finance minister during Union Budget 2022 presentation is the announcement on taxation.

Jan 19, 2022, 11:22 AM IST

Budget 2022-23 Expectations: Consumer tech sector seeks ease of tax rules

The sector's significant contribution to the economy in both good and bad times has been unrivalled.

Jan 18, 2022, 17:00 PM IST

Union Budget 2022: Energy sector urges govt to expand PLI scheme to boost domestic manufacturing

A return of consumer confidence in renewable energy sources, improved financial market conditions, and an increase in manufacturing and export activities in the country would be crucial.

Jan 18, 2022, 13:51 PM IST

Union Budget 2022: Increase in Income Tax slab vital for salaried class

What perhaps needed in the Union Budget 2022 is to bring dynamic changes in the income-tax slabs and increase the rebates under section 80C, 80EE, 80EEA and 24(b) of the Income Tax Act, say experts.

Jan 18, 2022, 13:01 PM IST

Union Budget 2022: MFIs, fintech expect bolder budget and allocation of more to MGNREGA scheme

Fintechs believe that the he government should also push the collaborative approach decided by the Reserve Bank to incentivise banking sector.

Jan 18, 2022, 11:18 AM IST

Union Budget 2022: Banks pitch for reduction of tax-free FD tenure to 3 years

Currently, the tax break is available on 5-year tax-saving FD schemes. One can claim an income tax deduction by investing money in a five-year FD scheme under Section 80C of the Income Tax Act, 1961. Section 80C is a wide bracket with a ceiling of Rs 1.50 lakh.

Jan 18, 2022, 10:39 AM IST