Union Budget 2022 Highlights: No change in income tax slabs; RBI to launch India's own digital currency

Union Budget 2022 Highlights: Union Finance Minister Nirmala Sitharaman presented her the Union Budget 2022 in the Parliament on Tuesday. The 2022 budget session of Parliament started on Monday with the address by President Ram Nath Kovind to both Houses in the Central Hall.

During the 2022 Parliament budget session, Finance Minister Nirmala Sitharaman tabled this year's Economic Survey, which was centered around the theme of the "Agile approach." "The session is scheduled to conclude on April 8 wherein the first part of the session will extend up to February 11," said the Lok Sabha Secretariat on Sunday.

Also Read | Economic Survey projects 8-8.5 GDP growth for FY 2022-23

"There will be a break from February 12 to March 13 during which the Standing Committees will examine Demands-for-Grants of Ministries/Departments and prepare reports thereon. In all, there will be 29 sittings; ten in the first part and 19 in the second part," the Lok Sabha Secretariat's press release stated.

There will be no Zero Hour and Question Hour in both Houses of Parliament during the first two days of the Budget Session.

Also Read in Punjabi | RBI ਜਲਦ ਹੀ ਭਾਰਤ ਦੀ ਆਪਣੀ ਡਿਜੀਟਲ ਕਰੰਸੀ ਕਰੇਗਾ ਲਾਂਚ

Follow Union Budget 2022 Highlights here:

12:37 pm | Lok Sabha adjourned till tomorrow, 2nd February.

12:36 pm | Income tax rates were unchanged.

12:35 pm | Union Finance Minister Nirmala Sitharaman introduces Finance Bill 2022.

12:32 pm | Customs duty on cut & polished diamonds, gems to be reduced to 5%: Finance Minister Nirmala Sitharaman.

12:24 pm | The gross GST collections for the month of January 2022 are Rs 1,40,986 crores which is the highest since the inception of GST: Finance Minister Nirmala Sitharaman

12:19 pm | Corporate surcharge to be reduced from 12% to 7%:FM Nirmala Sitharaman.

12:17 pm | "I propose to provide that any income from transfer of any virtual digital asset shall be taxed at the rate of 30%. No deduction in respect of any expenditure or allowance shall be allowed while computing such income, except cost of acquisition": FM Nirmala Sitharaman.

12:16 pm | Rs 48,000 crores allocated for completion of construction of 80 lakh houses under PM Awas Yojana in rural and urban areas in the year 2022-23: FM Sitharaman.

12:14 pm | Both Centre and States govt employees' tax deduction limit to be increased from 10% to 14% to help the social security benefits of state govt employees and bring them at par with the Central govt employees: FM Nirmala Sitharaman

12:13 pm | 50 minutes into Budget 2022, Sensex up nearly 1,000 points.

12:10 pm | Data centres, energy storage systems to be included in harmonised list of infra sectors: Nirmala Sitharaman.

12:09 pm | To provide an opportunity to correct an error, taxpayers can now file an updated return within 2 years from the relevant assessment year: FM Nirmala Sitharmaan: Nirmal Sitharaman.

12:07 pm | For 2022-23,allocation is Rs 1 lakh cr to assist the states in catalyzing overall investments in economy. These 50-yr interest-free loans are over&above normal borrowings allowed to states. It'll be used for PM Gati Shakti-related&other productive capital investments of states:FM

09:42 am | Union Finance Minister Nirmala Sitharaman along with Ministers of State for Finance, Dr. Bhagwat Kishanrao Karad, Shri Pankaj Chaudhary, and senior officials of the Ministry of Finance, called on President Ram Nath Kovind before presenting the Union Budget 2022-23.

09:10 am | Finance Minister Nirmala Sitharaman arrives at Rashtrapati Bhavan, ahead of Union Budget 2022.

09:00 am | Union Finance Minister Nirmala Sitharaman leaves from the Ministry of Finance. She will present and read out the Budget 2022 at the Parliament through a tab, instead of the traditional 'bahi khata'.

08:47 am | Union Finance Minister Nirmala Sitharaman arrives at the Ministry of Finance. She will present the Budget 2022 today in Parliament.

08:44 am | MoS Finance Pankaj Chaudhary said that "Finance Minister Nirmala Sitharaman will present an inclusive budget, in line with each and every sectors' needs. It will be benefiting everyone... All sectors (including farmers) should have expectations from today's budget."

08:39 am | Union Finance Minister Nirmala Sitharaman arrives at the Ministry of Finance. She will present the Union Budget 2022 in Parliament.

08:30 am | MoS Finance Pankaj Chaudhary said that "Finance Minister Nirmala Sitharaman will present an inclusive budget, in line with each and every sectors' needs. It will be benefiting everyone...All sectors (including farmers) should have expectations from today's budget."

08:10 am | MoS Finance Pankaj Chaudhary and Bhagwat Karad arrive at the Ministry of Finance. Finance Minister Nirmala Sitharaman will present the Union Budget 2022 in Parliament.

08:00 am | MoS Finance Bhagwat Karad offered prayers at his residence ahead of the presenting of Union Budget 2022 in the Parliament. "PM Modi expects that every group - be it the ruling side of the Opposition - should sit together and listen to the presenting of the Budget and cooperate," he said.

-PTC News