Reactions

The LocalCircles survey showed that 24 per cent of citizens are elated with the Budget announcements and see several benefits of it.

Updated : Feb 6, 2022

2 in 3 Indians believe Budget 2022 will have positive impact on economy: Survey

56% of the citizens rate the budget below expectations while 42% rate it meeting or exceeding expectations, as per the LocalCircles survey.

The extension of one year towards start-up incentives and corporate tax incentive of 15% coupled with the capex outlay of Rs 7.5 lakh crore clearly demonstrates the vision and roadmap to long term stable policy.

Updated : Feb 4, 2022

Massive capex budget, a bold move in 'Amrit Kaal' for Aatmanirbhar Bharat

There were quite a few relevant representations by the industry which do not find any reference/amendments with respect to restructuring, extending tax regimes (as applicable to the manufacturing sector) to the services sector, etc.

Amid the pandemic, the government had to undertake a balancing act of containing the fiscal deficit, generating sufficient revenues for meeting its social obligations

Updated : Feb 4, 2022

Budget 2022: A holistic approach to tackle economic growth

Union Budget 2022 demonstrates the government’s clear intent to touch every aspect of the economy and to leave no stone unturned – be it digital economy push be it an infrastructure boost or be it the energy sector.

Because emerging markets have worked to build buffers and strength for situations like this and because many of them themselves have taken prudent actions once they faced inflationary pressures, she said.

Updated : Feb 4, 2022

Budget 2022 thoughful policy agenda for India: IMF's Kristalina Georgiva

"All in all, I read the (budget) statement and I thought it was a very thoughtful policy agenda for India, the senior official said in response to a question," said Kristalina Georgieva, Managing Director, International Monetary Fund.

Updated : Feb 2, 2022

Budget 2022: A blueprint from India @75 to India @100

With a change in narrative with a 25-year vision, the goal is to establish an open, digital, and inclusive India. The budget will help India become self-sufficient and set the groundwork for a new India in its centenary year of independence.

The Budget announcements came at a time, when he FMCG makers are grappling with poor volume uptake, especially in the rural areas.

Updated : Feb 2, 2022

Budget gives FMCG sector hope for consumption recovery in the long-term

Without any direct measures in the Budget, volume uptake may take time to recover, industry insiders argue.

Sanjeev Krishan, Chairman PwC in India was of the view that Budget 202223 continues to provide much-needed relief to the COVID-hit MSME sector

Updated : Feb 2, 2022

Budget 2022 proposals to boost growth, generate jobs, say industry experts

Among other things, Finance Minister Nirmala Sitharaman unveiled a bigger Rs 39.45 lakh crore Budget, with higher spending on highways to affordable housing with a view to firing up the key engines of the economy to sustain a world-beating recovery from the pandemic.

Updated : Feb 2, 2022

Budget 2022 Big Bites: Snapshots of some key economic indicators

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.

The industry is calling it as the Budget for technology and technocrats.

Updated : Feb 1, 2022

Budget 2022: IT sector applauds government’s focus on technology

Union Budget 2022: Given the focus on digitisation, the IT industry is calling it the Budget for technology and technocrats.

Updated : Feb 1, 2022

Budget 2022 lacks vision; weakens states instead of empowering: Pinarayi Vijayan

The Chief Minister, however, said it was gratifying to see Kerala's unique projects like digital university, online education, M-service and optical fiber expansion as models in the budget by the union government.

Updated : Feb 1, 2022

Budget 2022 is disappointing, nothing in it for common people: Arvind Kejriwal

In a tweet in Hindi, the Aam Aadmi Party (AAP) national convenor noted that people had "high expectations" from the Union Budget during the corona period but there is nothing in it either for the common people or to reduce price rice.

Anand Mahindra's appreciation for Sitharaman's short budget speech received many responses from his followers. Most of them agreed to what he stated while others mentioned that it was a good budget.

Updated : Feb 1, 2022

'Brevity always a virtue': Anand Mahindra on Sitharaman's Budget 2022 speech

"Brevity has always been a virtue. Nirmala Sitharaman's shortest budget address may prove to be the most impactful," the Mahindra Group chairperson said in a tweet.

Updated : Feb 1, 2022

Budget 2022: Gems and jewellery sector hails reforms introduced by FM

There is a swathe of favourable policy reforms announced that empowers the industry and puts it on a firm footing to capitalise on growth opportunities, the sector said.

Updated : Feb 1, 2022

LTCG surcharge capped at 15%! Here's what experts want you to know

Finance Minister Nirmala Sitharaman presented the Union Budget 2022 on Tuesday. She announced that the surcharge on the long-term capital gains (LTCG) has been capped at 15 per cent.

The focus on climate-related initiatives in the budget signals the government's broadening commitment towards achieving net-zero carbon emissions by 2070.

Updated : Feb 1, 2022

Budget 2022 lacks major steps for enhancing revenue to off-set spending: Moody's

The budget underscores government’s previous emphasis on capex to sustain near-term recovery from the pandemic, while simultaneously paving the way for longer-term restructuring of the economy, Moody's stated.

Moreover, no country has yet implemented a CBDC-based economy though many are in the testing phase currently.

Updated : Feb 1, 2022

Budget 2022: Will RBI's blockchain-powered digital currency be a gamechanger?

With the help of Central Bank Digital Currency or CBDC, experts say all transactions can be tracked on the ledger with no ability to modify the past – leading to transparency.

All India Council for Technical Education (AICTE) will be responsible to shape up the syllabi for Urban Planning courses.

Updated : Feb 1, 2022

Budget 2022: Govt to set up AVGC task force to employ youth in animation sector

The task force is going to help build domestic capacity to serve Indian markets and also global demand.

EV financing companies see this as an opportunity to promote large-scale adoption of EVs.

Updated : Feb 1, 2022

Budget 2022: EV industry hails govt's new battery swapping policy proposal

In her 90-minute Union Budget 2022, Finance Minister Nirmala Sitharaman announced new initiatives to further accelerate the adoption of EVs in India.

Given the fiscal deficit glide path of 4.5 pr cent by 2025-26 , the government has to go for sharp reductions in the next year.

Updated : Feb 1, 2022

Budget 2022: Govt to go a bit slow on fiscal consolidation

Union Budget has targeted a fiscal deficit target of 6.4 per cent of GDP in 2022-23 as compared to 6.9 per cent in 2021-23, which indicates that the government is going a bit slow on its fiscal consolidation glide path.

BT had earlier reported that Budget expectations by tax experts where they suggested that crypto should be treated the way winnings from lotteries and game shows are taxed given the speculative nature of transactions.

Updated : Feb 1, 2022

Budget 2022: Will 30% tax on cryptocurrencies and NFTs apply retrospectively?

Finance minister Nirmala Sitharaman has proposed a 30 per cent tax on virtual digital assets with no deductions allowed.

His comments came soon after Finance Minister Nirmala Sitharaman presented the Union Budget in Parliament.

Updated : Feb 1, 2022

Modi govt's zero-sum budget, nothing for middle class, poor, slams Rahul Gandhi

Congress leader Rahul Gandhi dubbed the Union Budget for 2022-23 as a "zero-sum budget", saying it has nothing for the salaried, middle class and the poor.