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Budget 2022 Live Updates: Didn’t want to increase taxes at the time of pandemic, says FM Nirmala Sitharaman
Budget 2022 India Live, FM Nirmala Sitharaman Speech Live Updates: In her Budget speech, Finance Minister Nirmala Sitharaman projected a growth of 9.27% for the coming year.


Union Finance Minister Nirmala Sitharaman presents the Union Budget on Tuesday.

Budget 2022 Live Updates: Speaking at a press conference after presenting the Union Budget on Tuesday, Finance Minister Nirmala Sitharaman said a conscious decision was taken not to increase taxes because of the hardship that people have been facing due to the pandemic. Prime Minister Narendra Modi, while hailing Sitharaman and her team, said the Budget will benefit everyone, especially the poor and those from backward sections of the society. “This budget addresses the immediate needs to ensure the economy is robust… It will also ensure more investment, more infrastructure, more growth,” the Prime Minister added. PM Modi, however, said that he will be speaking about the Budget in detail tomorrow
Sitharaman, while presenting the Union Budget, said that the country is expected to grow at 9.27 per cent in the coming year. With a focus on four pillars of development — inclusive development, productivity enhancement, energy transition and climate action — the Budget gives a blueprint of economy from India at 75 to India at 100, Sitharaman said.

The Budget estimates the effective capital expenditure of the Central government at Rs 10.68 lakh crore in 2022-23, making up about 4.1 per cent of the GDP. The gross GST collections for the month of January 2022 are Rs 1,40,986 crore — the highest since the inception of the tax in 2017 — the Finance Minister said. In a major push for digital currency, Sitharaman stated that digital rupee will be issued using blockchain technology by the RBI starting 2022-23. This will give a big boost to the economy, the Finance Minister said. She added that income from the transfer of any virtual digital asset shall be taxed at the rate of 30 per cent.

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