Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2022 in Parliament. The Union Budget of 39.45 trillion rupees for the coming fiscal year focused on stepping up investment in infrastructure and digitalization to put growth on a firmer footing as the economy recovers from the Covid-19 pandemic.
In what was her shortest Budget speech ever, Finance Minister Nirmala Sitharaman announced that the country’s economic growth is expected to be at around 9.2% in the current financial year. Nirmala Sitharaman also stated that she did not have gifts in store for taxpayers or changes in the income tax slabs or hikes in exemptions.
Among the highlights the focus was on job creation, a push for digital education, mental health wellbeing, and new-age technologies such as blockchain and 5G services.
The other areas that Budget 2022 focused on was a push towards a greener economy and a boost for made-in-India initiatives via a higher defence spending on domestically produced equipment.
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