Budget 2022: NITI Aayog’s Amitabh Kant says expansion on capital expenditure real highlight

Union Budget 2022-23: NITI Aayog CEO Amitabh Kant said the Budget looks at sunrise areas of growth as it pushes for urbanisation, clean electricity, clean mobilisation and digital rupee.

NITI Aayog CEO Amitabh Kant on Tuesday said the Union Budget presented by finance minister Nirmala Sitharaman in Parliament is a very progressive and forward-looking one as it prepares India for the next stage of its sustained growth.

Kant said Budget 2022-23 is a continuation of the one tabled a year ago. “The real highlight of the Budget is its huge expansion on the capital expenditure,” he said.

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The NITI Aayog boss said the Budget looks at sunrise areas of growth. “India needs to go green, India needs to go digital and that is what this Budget pitches for. It pushes for urbanisation, clean electricity, clean mobilisation and digital rupee,” he was quoted as saying by news agency ANI.

Regarding virtual assets, Kant said such assets like cryptocurrencies will not be banned but treated as another asset class and attract a tax of 30 per cent on capital gains. “It has gone for a regulation, which is a good thing for a new asset class like crypto,” he added.

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In her Budget speech, Sitharaman said no deductions and exemptions will be allowed on virtual assets.

“The gifts are to be taxed on the hands of the recipient,” she said, adding “there will also be a 1 per cent tax deducted at source (TDS) on the payments made for the transfer of digital assets.”

It was also announced that any loss made on the transaction of such digital assets cannot be set off against any other gain.


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