Union Budget 2022 Highlights: No change in income tax slabs, tax rates for 2022-23

Written By DNA Web Team | Updated: Feb 01, 2022, 03:08 PM IST

Finance Minister Nirmala Sitaraman with her budget team before leaving for Rashtrapati Bhawan to present the Union Budget 2022-23 at North Block in New Delhi on Tuesday, February 01, 2022.

The Budget speech will begin at around 11 am today with FM Sitharaman beginning it with an address to the speaker of Lok Sabha.

The Union Cabinet chaired by Prime Minister Narendra Modi met ahead of the Budget and gave one final nod to it. Finance Minister Nirmala Sitharaman will present the Budget at 11 am in the Lok Sabha.

Earlier today, FM Sitharaman met President Ram Nath Kovind ahead of the Budget presentation. She was accompanied by Ministers of State for Finance Pankaj Chaudhary, Bhagwat Karad, and other officials from the Ministry.

Amid the ongoing coronavirus pandemic, replacing her signature 'bahi khata', she opted to carry the documents in a tablet, which was wrapped in a red-coloured cover with the national emblem emblazoned on it.

The Budget Session of the Parliament commenced on January 31 with President Ram Nath Kovind's address. The first part of the Union Budget Session of Parliament will be held from January 31 to February 11 and the second part of the Budget Session will take place from March 14 to April 8.

11:11 IST Tuesday, 1 February 2022

A sharp rebound in economy reflected in 2021-22, India's economic growth expected at 9.2 percent, says Finance Minister Nirmala Sitharaman.

11:15 IST Tuesday, 1 February 2022

Finance Minister Nirmala Sitharaman begins the presentation of 'Union Budget for 2022-23 in Lok Sabha.

11:19 IST Tuesday, 1 February 2022

The National Highway network will be expanded by 25,000 km in 2022-23, announces FM. Inclusive development, productivity enhancement, energy transition, and climate action are four pillars of development, Sitharaman said.

11:20 IST Tuesday, 1 February 2022

One product, one railway station will be popularised, 400 new Vande Bharat trains with higher efficiency for passengers will be developed in the next 3 years: FM

11:25 IST Tuesday, 1 February 2022

2022-23 has been announced as International Year of Millets: FM Nirmala Sitharaman

11:30 IST Tuesday, 1 February 2022

Finance Minister Nirmala Sitharaman on Tuesday said the speed in the coverage of vaccination has helped in economic recovery. Presenting the Budget for 2022-23, she said the country is in the midst of the Omicron wave.

11:35 IST Tuesday, 1 February 2022

Kisan Drones for crop assessment, land records, spraying of insecticides expected to drive a wave of technology in Agri sector: FM

11:37 IST Tuesday, 1 February 2022

Railways will develop new products for small farmers and MSMEs, Finance Minister Nirmala Sitharaman said on Tuesday. Presenting the Union Budget for 2022-23, she noted that efforts of central and state governments are leading to jobs and entrepreneurial opportunities.

She further 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.

11:53 IST Tuesday, 1 February 2022

Finance Minister Nirmala Sitharaman on Tuesday proposed to set up a digital university to provide education that will be built on a hub and spoke model. She also said that the 1-Class-1-TV channel will be implemented to provide supplementary education to children to make up for the loss of formal education due to the COVID pandemic.

Sitharamn noted that hospitality services by the small and medium sectors are yet to bounce back. Recognising the importance of 'Nari Shakti', she said three schemes were launched to provide integrated development for women and children.

12:04 IST Tuesday, 1 February 2022

Effective capital expenditure of the government is estimated at Rs 10.68 lakh crores in 2022-23, about 4.1% of GDP.

12:06 IST Tuesday, 1 February 2022

Government to introduce digital rupee using blockchain and other tech: FM

12:07 IST Tuesday, 1 February 2022

Finance Minister Nirmala Sitharaman on Tuesday proposed to launch a new scheme PM Development Initiative for North East, to promote the growth of the region. She also said that villages on the northern border of India will be covered under a new vibrant village program to enhance development.

As much as 95 percent of 112 aspirational districts have made significant progress in health and infrastructure, the finance minister said in her Budget Speech 2022-23. She added that projects in the National Infrastructure Pipeline which pertain to seven engines will be aligned with PM Gati Shakti Framework. All post offices, she said, will be linked with Core Banking Solution to push financial inclusion.

12:10 IST Tuesday, 1 February 2022

Union Budget 2022-23 will lay the foundation for India's economic growth and expansion for the next 25 years, Finance Minister Nirmala Sitharaman said while presenting the budget in the Lok Sabha on Tuesday.

"This Union Budget seeks to lay the foundation and give a blueprint of the economy over Amrit Kal of next 25 years - from India at 75 to India at 100," Sitharaman said while presenting her fourth union budget. She said India is in a strong position to withstand future challenges. The Finance Minister said the government's focus will continue on boosting public investment to modernise infrastructure.

12:29 IST Tuesday, 1 February 2022

The gross GST collections for the month of January 2022 are Rs 1,40,986 crores which is the highest since the inception of GST: Finance Minister Nirmala Sitharaman.