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India came with the 2022 Budget in February 2021. This budget is going to be an economic booster and also given lots of benefits.
Even in Budget 2022, India emphasizes the generation of green energy. There is a lot of importance is given to the education and sports sector as well.
Education Budget 2022 India
Now India is spending more on education to improve and provide quality of education for all children. The core strength of any country lies in the students.
Here India set a national budget of 1,04,278 crores on education. Even the government is trying innovative ideas to reach the digital medium of teaching in every house.
So, now there will be 12 Indian channels purely for educational purposes and students from classes 1 to 12 can access the channel.
There will be comprehensive teachings on the television and the vision is ” ONE CLASS ONE TV CHANNEL”. This is the first and innovative step taken by the government towards the digitalization of education.
Transportation Budget 2022
Due to the Covid-19 pandemic transportation sector was slow in progress. Even the government was focused on providing oxygen cylinders to the hospitals and procuring vaccination as well.
So, there was a huge setback in the construction of roads in India. Now India came with the powerful aim to build 25,000KM of roads this year, counting 70 KM of road per day.
Even the budget will be over 20,000 crores for the highways of India. This initiative is taken under the scheme of Prime ministers Ghati Shakti Plan.
Renewable energy will be the future of the country. Now every country is striving to be a carbon-free nation with robust use of renewable sources of energy.
Here India is planning and also shows concern about clean energy. So, India set a budget of 1900 crores on solar panels. Even aiming to generate 5GW of energy by 2030.
TATA and Adani green company have the potential to make it possible.
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Tax on Cryptocurrencies
India Budget 2022 make some unpredictable decisions this year. One of the astonishing decisions taken is levying tax on the digital asset over 30%.
India always regards that Cryptocurrencies will nowhere have the footmark in the country. But Nirmala Sitharaman made an announcement that Legally the government will charge over 30% of tax on the transaction made over cryptocurrencies.
So, this legitimacy is good for the development and adoption the digital currency in the country.
River joining in India budget 2022
Now India is aiming to provide clean drinking water and an adequate amount of water for farming. India is home to rivers and so if the river water is made accessible to the people. Then there will immense amount of progress in the country.
There some major projects on river joining like
- Dhamaganga and Pinchal
- Parthaapi and Narmadha
- Godavari and Krishna
- Krishan and Pemar
- Pennar and Kaveri
So, these are some of the major projects and India provides a budget of 44,605 crores.
Electric Vehicle Budget 2022 India
India too wants to be in the race electric vehicle revolution. As of now, India has too many companies that are providing a wide range of accessibility for EVs.
Additionally, there are so many startups that are boosting the sales of Evs in India. OLA electric Vehicle startup has built the world’s largest Ev’s manufacturing unit in Tamil Nadu. Even the sales of the EV’s have also gone high.
Bounce startup also innovatively stepped into selling battery swapping technology for Electic Vehicle. So, there is a lot of demand for Electric vehicles in India due to the enormous increase in fuel price.
The existing problem is not with the electric vehicle but with the charging stations. There are only a few thousand charging stations for millions of electric vehicles standing on the roads.
Here India will be focusing on making charging stations accessible for all people. There will be a lot of effort will be taken to increase the count in the charging in the future. Battery swapping technology will the prime focus of the government
Mental Health Scheme
In the India budger 2022, a lot of new initiatives have been taken down. In the budget 2022, the government made a special effort to improve the lives of people with the opening of Mental Health centers.
Due to the pandemic, people lost their jobs, family members, money, and business. So, people have both physically and mentally have affected.
To make them strong and rebuild the hope of living, India is going to open 114 mental health care centers across the states of India. So, this is the new and vital step that is taken by the government.
India Jobs at Budget 2022
There is a massive amount of unemployment rate in India. Even there are around 40 million people who lost their jobs due to the Corona pandemic.
So, there huge scarcity of jobs in India. Now, India is striving to gear up the employment rate. In the budget session, Nirmala Sitharman has taken the initiative to provide 60 Lakhs of jobs for the next 5 years.
Income tax 2022 Budget
Income tax is one of the burdens of the middle-class people in India. So, people are looking for any kind of relief for the income taxpayers in the Indian budget 2022.
But there were no such decisions taken to impress the taxpayers. So, the income tax rate is not changed a bit and can return income tax file within two years.
India Budget 2022 summary
For defense, India has given 4,78,196 crores for the development.
Then there is a steep decline in the budget for food and fertilizers subsidiaries. Here India giver 2,068,831 crores for 2022-2023. Here there is a 23% of decline according to the estimation made for 2,84,469.
The Government has given 73,000 crores of the development of the rural job under the scheme MGNREGA.
Due to the rapid digitalization in the country, there is a special effort will make that 65% of the rural village will be accessible for the internet. So, optical cables will be laid to the villages in the future.
For Health Infrastructure, Indian Budget 2022 has given 64,180 crores.
For gold and diamond traders, there is a decline in the tax from 7.5% to 5%.
Agriculture development is one of the primary focuses of India. So, the Indian Budget has given 132513.62 crores for agriculture and farmers’ development.
Then for the rural development, nearly 138203.63 crores have been allocated.
Price decline commodities in the Budget 2022 India
- Electronic appliances
- Mobile camera lens
- Gold and Diamond
- Clothes, Footwear, leather
- Petroleum products
- Agriculture products
Price rise commodities in the Budget 2022 India
- Airways travel
- Smart meters and speakers
- Solar cells
- X-ray machines
- Headphone and Earphone
- All the import goods
So, these all are the budget 2022 India. Here, one gets all the information about the Indian budget 2022. Finally, this is the summary of India’s Budget.