Analysts and economists have predicted that the GDP growth would be in the range of 5.8 per cent to 7.2 per cent in the second quarter, which will be lower than Q1 numbers. The GDP growth was 13.5 per cent in Q1 (April-June period) of the current fiscal (2022-23).
Business Today’s Budget Big Bites presents broad aggregates of the budget for easy understanding and shows snapshots of the economy and key elements of Finance Minister Nirmala Sitharaman’s fourth Budget.
"To encourage the efforts for blending of fuel, unblended fuel shall attract an additional differential excise duty of Rs 2 per litre from the 1st day of October 2022," said Finance minister Nirmala Sitharaman.
Finance Minister Nirmala Sitharaman in the Budget 2022 speech announced the government’s vision to connect all villages and their residents to same e-services, communication facilities, and digital resources as urban areas and their residents.
In its revised budget estimate for 2021-22 fiscal, the government pegged total subsidies to be at Rs 4,33,108 crore as against the actual budget estimate of Rs 7,07,707 crore in the previous financial year.