Union Finance Minister, Nirmala Sitharaman, will be delivering her fourth Budget in the Parliament today.
Explained | Understanding the formulation of the Budget
This will the second consecutive year that a paperless budget will be presented.
The Economic Survey 2022, released on January 31st 2022, estimated the country's GDP to grow by 9.2% this year.
Here are the latest updates:
Lok Sabha convenes for the Budget session
Lok Sabha assembles. Lok Sabha Speaker Om Birla is in the Chair.
Nirmala Sitharaman starts the Budget by extending her empathy for those who suffered due to COVID-19.
Ms. Sitharaman lists out goals for the government in light of the Amrit Mahotsav.
"Since 2014, our focus has been empowerment of citizens." She lists welfare programmes for cooking gas, electrification, drinking water, DBT etc.
"It continues to build on the vision of Budget of 2021-22," Ms. Sitharaman says.
Transfer of ownership of Air India has been completed, and Public issue for LIC will take place shortly, Ms. Sitharaman informs the House, as members start sloganeering.
Strengthening of health infrastructure, vaccination programme, productivity linked incentive has generated 60 lakh new jobs, she says.
Congress demands relief for middle class
Ahead of budget presentation, Congress took to Twitter demanding relief to salaried and middle class
It’s also time for us to learn and ready ourselves for a long speech. And a part of this long speech involves terms that aren’t used in daily conversation. Here is a ready reckoner for some of these terms.
Chaired by Prime Minister Narendra Modi, the Cabinet meeting held to approve the Budget has concluded.
Cabinet has approved the Budget, following which the Union Finance Minister will present the same in Parliament shortly.
Sensex, Nifty open higher ahead of Budget presentation
Sensex surged over 600 points and Nifty advanced 159 points in opening trade on February 1, ahead of the Union Budget 2022-23 presentation in Parliament.
The 30-share Sensex was trading 603.39 points or 1.04% higher at 58,617.56, and the broader Nifty rose 159.25 points or 0.92% to 17,499.10.
Union Finance Minister, Nirmala Sitharaman, arrives at her North Block office, ahead of Budget 2022 presentation in the Parliament today.
Photo: R.V. Moorthy
Experts want Centre to set aside ‘green expenditure’ funds
Ahead of the upcoming Union Budget, environmental experts on January 31 called for Budgetary allocation under “green expenditure” to show that India is serious about meeting the enhanced targets announced by Prime Minister Narendra Modi at Conference of the Parties 26 in Glasgow.
They also said that India’s climate targets will require an investment of about $35 million in energy storage in this decade alone. The Budget for the fiscal year commencing April 1, 2022, will be presented on Tuesday by Finance Minister Nirmala Sitharaman.
India Inc. seek Budget sops from govt. for creating jobs
Ahead of the Union Budget 2022-23, Indian industry has urged the government to offer incentives for creating jobs, including special sops under the Production Linked Incentive (PLI) schemes already announced.
The plea assumes significance amid growing concerns about high unemployment levels in the country, even as a FICCI survey of manufacturing firms showed that 75% of firms don’t plan to hire in this quarter despite a marked increase in business volumes and orders in the October to December 2021 quarter.