Budget 2022: Govt committed to reduce imports in defense sector, says FM Sitharaman
Business | Feb 01, 2022, 12:55 PM ISTFM Sitharaman said that 68 pc of capital for the defence sector would be earmarked for the local industry.
FM Sitharaman said that 68 pc of capital for the defence sector would be earmarked for the local industry.
Sitharaman had replaced her signature 'bahi khata', last year. Today, she opted to carry the documents in a tablet, which was wrapped in a red-coloured cover.
The activities of these start-ups will include inter-area support for farmer-producer organisations (FPOs), machineries for farmers on a rental basis at the farm level and technology including invitee base, Sitharaman said.
Currently, post offices provide savings account services and payments bank services through the India Post Payments Bank.
"ECLGS scheme to be extended till March 2023 and guarantee cover expanded by Rs 50,000 to Rs 5 lakh crore," the finance minister said.
National highways will be extended by 25,000 km during 2022-23, and the PM Gati Shakti for road transport master plan will be finalised in 2022-23, Sitharaman said today.
Finance Minister Nirmala Sitharaman is presenting the Union Budget for the year 2022-23 in Parliament today.
Before the presentation, a Union Cabinet meeting was held which approved the Budget 2022-23.
The Budget documents usually include the finance minister’s speech in Parliament, highlights, annual financial statement, finance bill containing tax proposals, memorandum explaining the provisions in the financial bill, and macroeconomic framework statement.
Of the total revenue collected, CGST is Rs 24,674 cr, SGST is Rs 32,016 cr, IGST is Rs 72,030 cr and cess is Rs 9,674 cr.
For the uninitiated, the Union Finance Minister's love for subtly elegant handloom and silk sarees is well known, and hence, it's reasonable to assume that her sartorial choices are what distinguishes her appearance.
Equity benchmarks notched up solid gains on Tuesday ahead of the presentation of the Union Budget 2022-23.
Finance Minister Nirmala Sitharaman said that overall, sharp rebound and recovery of the economy is reflective of our country's strong resilience. India's economic growth in the current year is estimated to be 9.2 per cent, the highest among all large economies.
Mukesh Aghi, president, US India Strategic and Partnership Forum (USISPF) said the American companies have high expectations from what Sitharaman would present in her fourth annual budget on Tuesday.
It revealed that the number of unsold residential units have also witnessed significant drops during the second wave of the pandemic.
While earnings from goods carried stood at Rs 11,5738.4 crore, passengers earnings stood at Rs 15,248 crore.
Shristi Infrastructure Development Corporation CMO Abhishek Bhardwaj said there is demand in the industry to redefine affordable housing.
India's commitments to the ambitious targets were announced by Prime Minister Narendra Modi at the 26th climate summit held in Glasgow last year.
Ahead of the Union Budget 2022-2023, let's take a look at what different business sectors are hoping for from the Modi government.
The government earlier this month handed over ownership rights in national carrier Air India to Tata Group for Rs 18,000 crore. The amount includes the takeover of the debt burden of Rs 15,300 crore and another Rs 2,700 crore in cash.
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