Budget 2022 News LIVE Updates: Budget 2022 may aim to boost growth, achieve fiscal consolidation, shows report – The Economic Times
FM Nirmala Sitharaman is set to present the Union Budget 2022 on February 1 as people from various walks are pinning hopes on government’s decisions and announcements on different sectors. Though, many steps have been taken by the Centre to tackle the economic consequences of the pandemic, big challenges still remain. These challenges are expected to be addressed by the finance minister in her upcoming budget presentation. With Assembly elections in four states and one Union Territory are getting closer, govt could also go for some populist measures while continuing with higher spending to shore up economic recovery.
Latest on the Budget
- The Union budget 2022-23 to be presented by finance minister Nirmala Sitharaman on February 1 will be in paperless form
- No ‘halwa’ ceremony this time around amid Omicron worries
- Rajya Sabha floor leaders to meet virtually on January 31
- Strict Covid-19 protocols will continue in parliament
- Congress to raise farmers’ issue, Chinese aggression, Air India disinvestment
Budget expectations
- The realty sector is pinning high hopes on Budget to boost market sentiments
- Economy may need more hand-holding, fiscal correction can wait, shows a recent report
- Budget to aim at boosting growth, achieving fiscal consolidation, says BoB eco research
- Real estate sector expects tax relief, industry status from Sitharaman
- Experts want Budget to focus on bridging widened inequality in economy and create jobs
- PVC producers say leave the import duty on material untouched
- Pharma industry wants Budget to announce incentives for conducting R&D
- India is likely to boost budget spending on infrastructure
- Budget should announce something to encourages entities to build a world-class shipping line, says FIEO
- Aluminium Association seeks elimination of coal cess in upcoming Union Budget
- Small businesses and MSMEs seek easier access to capital at lower interest rates
- Budget 2022 will have the gating factors facing the EV industry on top of its agenda
Budget and Markets
- Market watchers believe that despite the higher target divestment for the upcoming financial year in the Union Budget, LIC IPO will be the key for the targets.
- Though market sees volatility pre and post Budget, net-net, the event hardly leaves any impact in the two-week period
- Centre is likely to miss the targets of divestment and the strategic stake sales in FY2021-22
- Market experts believe disinvestment and privatisation are likely to gain further traction
- Crypto startups seeking clarity over issues like taxation, legislation, exemptions and regulations
- Analysts do not see any change in capital gain tax on equity
Expert opinion
“The real estate sector expects the government to address its long-pending ask of industry status and single-window clearance in the upcoming budget. Bagging the industry status will facilitate the realty sector to avail legitimate and easy finances from Banks and financial institutions.
– Mohit Goel, MD, Omaxe Ltd
“In the run-up to the Budget, it is high time the government takes a close look at the issues concerning the healthcare sector and increase investment. Currently, India spends an abysmally low 1.5%-2% of GDP for health, while the US figures stands at more than 16%, Canada over 10%, and the Scandinavian countries 20%.
– Dr Yash Gulati, Padma Shri, Orthopedic Surgeon
SCROLL ALONG FOR MORE NEWS AND INFORMATION ON BUDGET 2022…
!1 New UpdateClick here for latest updates
Strict Covid-19 protocols will continue in parliament
In the wake of rising COVID-19 cases, the upcoming Budget session of Parliament will take place under strict Covid protocols as prescribed by the Ministry of health.
India’s renewable energy sector can employ 1 million people by 2030: Study
Renewable energy sector has the potential to employ around one million people by 2030, and most of the new jobs would be generated by small-scale renewable energy projects, according to a study.
The world we are living in is very uncertain and the level of uncertainties is on a rise. India is like a rock in the ocean. India has been good news as it was the fastest-growing economy in the world last year and India may overtake other countries like Japan, US and finally China as it emerges as the new entrant to the global economic road.
– Dr. Frank-Jurgen Richter, Chairman, Horasis addressing members of Thought Leaders of India (TLOI)
Budget should aim long-term holistic growth for auto industry, says Mercedes-Benz India
The Union Budget 2022 should aim at long-term holistic growth for the auto industry prioritising job creation, infrastructure development, introduction of latest technologies and increased decarbonisation efforts, luxury carmaker Mercedes-Benz India said on Friday.
Budget to aim at boosting growth, achieving fiscal consolidation, says BoB eco research
- In view of upcoming state elections, the Union Budget for the 2022-23 financial year will aim at boosting growth, achieving fiscal consolidation and driving consumption, Bank of Baroda (BoB) said in its latest economic research report
- It also stated that there could be changes in tax concessions, while production-linked incentive (PLI) schemes may see higher allocation to push investment demand
LS Speaker Om Birla reviews preparations at Parliament
- Lok Sabha Speaker Om Birla reviewed the preparations at the Parliament premises on Friday
- The LS Speaker has called an all-party meet on January 30 ahead of the commencement of the Budget Session of the Parliament
- In this customary meeting, floor leaders of various political parties will be present to discuss the smooth functioning of the Parliament session
Gujarat-based corporates have high hopes from Budget 2022
- Gujarat-based industrialists and corporates have high hopes from the government and expect the Union budget will be inclusive and growth-oriented
- Modi-led NDA government is required to stimulate growth and boost investment with confidence from both public and private sectors in the Union Budget 2022
- Special emphasis should be on job creation, lifting consumption & sentiments, and building infrastructure in priority sectors – Education, Health, Rural & MSME
Congress to raise farmers’ issue, Chinese aggression at LAC, Air India disinvestment during Budget Session
Ahead of the commencement of the Budget Session of the Parliament, the Congress Parliamentary Strategy Group on Friday held a meeting, chaired by interim party president Sonia Gandhi, via video conferencing.
Budget expectations for a strong realty growth
- The Finance Minister Nirmala Sitharaman will table the Union Budget 2022 on 1st February and the realty sector is pinning high hopes.
- The growth-oriented steps taken by the government have helped the sector regain momentum and more announcements in this direction can boost the market sentiments further.
Economy needs more hand-holding, fiscal correction can wait: Report
Warning that any sudden and sharp fiscal consolidation steps can throttle the nascent and uneven recovery of the Indian economy, a Wall Street brokerage has said the Budget should instead focus on boosting overall demand, from rural consumption in particular, and invest more in infrastructure.
For all the latest world News Click Here
