Budget 2022: We’ve been very realistic in telling what we will do and in achieving what we’ve told, says Nirmala Sitharaman
This budget is vital for this government as there are two years left for the Narendra Modi government’s tenure. Finance Minister Nirmala Sitharaman will present the budget today, and with this, she will be presenting her fourth budget in Parliament. FM Sitharaman started presenting the budget at 11 am.
Finance Minister Nirmala Sitharaman started presenting the union budget 2022. On Monday, Finance Minister Sitharaman presented the Economic Survey of 2021-22. This budget is vital for this government as there are two years left for the Narendra Modi government’s tenure. Finance Minister Nirmala Sitharaman is all set to present the budget today, and with this, she will be presenting her fourth budget in Parliament. FM Sitharaman started presenting the budget at 11 am.
Budget 2022 Live Updates:
We’ve been very realistic in telling what we will do and in achieving what we’ve told, says Nirmala Sitharaman
Finance Minister Nirmala Sitharaman holds a press conference after presenting Union Budget 2022-23.
Budget 2022: This year’s aim is welfare of poor, says Prime Minister Modi
Prime Minister Narendra Modi reacted to the Union Budget 2022, that was announced today. He congratulated Finance Minister Nirmala Sitharam and her team on presenting a people-friendly and progressive budget.
Gross GST collection in January at record Rs 1,40,986 Crore
In her speech to announce the Union Budget 2022, Finance Minister Nirmala Sitharaman said that the gross GST collection in January 2022, was Rs 1,40,986 Crore. The reason behind this was the rapid economic recovery.
Remarkable progress in GST but there were huge challenges, says Nirmala Sitharaman
Any Income from Transfer of Virtual Digital Asset to be taxed at 30%
Finance Minister Nirmala Sitharaman added that loss can’t be set off against any other gain and gain from the transfer of Virtual Digital Asset is non-deductible.
FY 22-23 expenditure will be around Rs 39 Lakh Crore , Revenue estimated at Rs 22 Lakh Crore Fiscal deficit to be around 6.4% for FY23
As Finance Minister Nirmala Sitharaman reads out the Union Budget 2022, she mentioned the expected fiscal deficits for fiscal year (FY) 2022-23, which is expected to be around 6.4%.
Digital Rupee backed by blockchain to be issued by the RBI
R&D and commercialisation in telecommunication for rural and remote areas
Talking about the development in rural and remote areas, Finance Minister Nirmala Sitharaman said that R&D and commercialisation in telecommunication for rural and remote areas will be promoted.
Linkage in NGDRS with one nation one registration will be promoted as a uniform process of registration, says Sitharaman.
E-passports with embedded chips will be rolled out, says Sitharaman
Finance Minister Nirmala Sitharaman said that E-passports with embedded chips will be rolled out
Rs 60,000 crore allocated for 3.8 crore households in 2022-23, says Sitharaman
Rs 60,000 crore has been allocated for 3.8 crore households in 2022-23, said Nirmala Sitharaman. She also said that 80 lakh households will be established under Aawaas Yojana for both rural and urban areas.
Supplementary teaching will be promoted, PM e-vidya will be expanded from 12-200 TV channels for class 1-12 in all regional languages, says Sitharaman
Nirmala Sitharaman said that supplementary teaching will be promoted, PM e-vidya will be expanded from 12-200 tv channels for classes 1-12 in all regional languages. She further said that digital universities will be established across the country, world-class education, regional languages. Sitharaman also said that children in rural areas SCs and STs have lost almost 2 years of formal education, need to impart supplementary teaching.
FM Sitharaman says Rs 2.7 lakh crore direct payment of minimum support price for wheat and paddy will be given to farmers
Finance Minister Nirmala Sitharaman said that FM Sitharaman says Rs 2.7 lakh crore direct payment of minimum support price for wheat and paddy will be given to farmers. She further said that chemical-free natural farming to be promoted.
Finance Minister Nirmala Sitharaman announces about PM Gati Shakti
Finance Minister Nirmala Sitharaman announced about PM Gati Shakti project and said that it will be an inclusive development. In this, productivity enhancement, energy transmission, climate action and financing of investment will be the key areas.
In her speech, FM Nirmala said that Atma Nirbhar Bharat achieved an excellent response in the last year.
Finance Minister Nirmala Sitharaman begins budget speech
Finance Minister Nirmala Sitharaman begins her budget speech. She began her speech by talking about Omicron and said that health and infrastructure is in a strong position right now.
Cabinet approves Union Budget, session to begin soon
The cabinet has approved Union Budget 2022 and soon Finance Minister Nirmala Sitharaman is going to deliver Budget session speech in the Parliament. The speech will begin at 11 am.
A cabinet meeting took place at Parliament ahead of the budget session. In the meeting, Defence Minister Rajnath Singh, Union Home Minister Amit Shah, Railways, Communications and IT Minister Ashwini Vaishnaw, Parliamentary Affairs Minister Pralhad Joshi, and others were present, Now, the meeting has been concluded and the budget session will be presented at 11 am.
Rajnath Singh, Amit Shah, Ashwini Vaishnaw, Pralhad Joshi, and others arrive at Parliament for union cabinet meeting ahead of budget session
Ahead of the budget session, Defence Minister Rajnath Singh, Union Home Minister Amit Shah, Railways, Communications and IT Minister Ashwini Vaishnaw, Parliamentary Affairs Minister Pralhad Joshi, and others arrive at the Parliament for the union cabinet meeting.
Finance Minister Nirmala Sitharaman arrives at Parliament
Finance Minister Nirmala Sitharaman arrived at Parliament. She will present the budget at 11 am.
Finance Minister Nirmala Sitharaman to address press conference post-presentation of budget at 3.45 pm
Finance Minister Nirmala Sitharaman will address a press conference at 3.45 pm after presenting the Union Budget 2022-23. She will present the budget at 11 am today on February 1.
Nirmala Sitharaman leaves from Ministry of Finance, to present budget through tab, instead of bahi khata
Finance Minister Nirmala Sitharaman left from the Ministry of Finance. She was seen outside the Ministry of Finance posing with his colleagues ahead of the budget. This time, she will present and read out the budget through tab, instead of traditional bahi khata.
Ahead of budget session, former Finance Minister P Chidambaram takes a dig at government
Ahead of budget session 2022-23, former Finance Minister P Chidambaram took a dig at the government as they released the economic survey. He shared a tweet in which he wrote that on the morning after Economic Survey, if you read newspapers, you will come to the conclusion that there is no Opposition in India. He further said that if there is a feeble opposition, it has no views on the economy.
Finance Minister Nirmala Sitharaman arrives at North Block
Finance Minister Nirmala Sitharaman has arrived at North Block and she is all set to present the budget today. It will be her fourth budget presentation in the Modi led government’s tenure. FM Sitharaman will present the budget at 11 am.
India needs to spend $1.4 trillion to achieve $5 trillion economy goal by 2024-25, saysEconomic Survey
According to Economic Survey, India needs to spend around $1.4 trillion to achieve the $5 trillion economy goal by 2024-25. It was mentioned that keeping this object in view, National Infrastructure Pipeline (NIP) was launched with a projected infrastructure investment of around Rs. 111 lakh crore (US$ 1.5 trillion) during FY 2020-2025 to provide world-class infrastructure across the country, and improve the quality of life for all citizens.
Rajya Sabha adjourned for the day
Finance Minister Nirmala Sitharaman tables Economic Survey 2021-22 in Rajya Sabha. After this, the Rajya Sabha was adjourned for the day. Now, the Economic Survey will be tabled before the public.
Inflation, crude oil price went up in 2021, says Economic Survey
According to the Economic Survey, global inflation went up as the economies opened up in 2021.
Apart from this, Crude oil prices also went high due to the increase in demand from recovering economies and supply cuts by the Organization of the Petroleum Exporting Countries and its allies.
Finance Minister tables Economic Survey 2022
Finance Minister Nirmala Sitharaman tables Economic Survey 2022.
The Economic Survey 2022 will be tabled before the public after it is tabled before Rajya Sabha at 3.30 pm.
Key Highlights of Economic Survey 2022:
India’s Financial Year 2022 growth seen at 9.2 per cent.
GDP growth for Financial Year 2023 has been projected at 8 per cent to 8.5 per cent.
Congress moves privilege motion over Pegasus snooping row
Congress Lok Sabha leader Adhir Ranjan Chowdhury said that they have moved the privilege motion in the House over Pegasus snooping row. He further said that this government is misleading the House, Supreme Court, and the people. He further said that being the opposition, it’s their responsibility to raise this issue. However, the Centre is trying to spread lies about it.
President Ramnath Kovind’s virtual address from Rashtrapati Bhavan
President Ramnath Kovind in his virtual address said that the Bill to raise the age of marriage for girls to 21 will be introduced in this session. He said that this Bill will seek to increase the minimum 18 years of age for women to get married to 21, so that they can give equal status to boys and girls.
President Kovind also hailed the country’s digitalisation and said that India is a country with the cheapest internet cost and the price of smartphones is also cheap. He further said that the youth of India was able to get benefit from this.
He further talked about the Make In India project and said that the government has given priority to that and because of Make In India, now, 209 items used by the Indian Army will not be imported.
Read full budget speech of Finance Minister Nirmala Sitharaman below.
The deadline to file Income Tax Returns (ITR) for most taxpayers, including salaried individuals, pensioners, and small businesses not requiring audit, ends today, September 15. Those who miss the due date face penalties, interest charges, and loss of certain tax benefits.
Penalties for late filing
If the return is not filed by the deadline, taxpayers can still file a belated return until December 31. However, under Section 234F of the Income Tax Act, late filing attracts penalties.
For income up to Rs5 lakh: penalty is capped at Rs1,000.
For income above Rs5 lakh: penalty increases to Rs5,000.
Additionally, if any tax remains unpaid, Section 234A imposes an interest of 1% per month (or part thereof) until the return is filed.
Consequences of missing deadline
Loss of certain tax benefits: Belated filers cannot carry forward specific losses such as business or capital losses.
Restrictions on tax regime change: Taxpayers lose the option to switch between old and new tax regimes after the deadline.
Refund delays: Those eligible for refunds will face delays compared to timely filers.
Steps to file before time runs out
Gather documents: Form 16, Form 26AS, Annual Information Statement (AIS), bank interest certificates, and proofs of investments or deductions.
Use the e-filing portal: File immediately to avoid last-minute portal congestion.
Verify your return: Ensure the ITR is verified electronically or physically for it to be considered valid.
India’s economy recorded a sharp growth of 7.8% in the April-June quarter (Q1) of 2025-26, surpassing the earlier estimate of 6.5% and outpacing China’s 5.2% growth in the same period. The figure also marks a notable rise from the 6.5% growth in the corresponding quarter last year, making it the fastest expansion in the last five quarters.
Strong performance across key sectors
According to data released by the National Statistical Office (NSO), the surge was driven primarily by the services sector, which expanded 9.3% compared to 6.8% a year ago, and the agriculture sector, which rose 3.7% against 1.5% last year.
The construction sector, however, witnessed a slowdown, growing 7.6% compared to 10.1% in the same quarter of the previous fiscal.
RBI’s earlier forecast
Earlier this month, the Reserve Bank of India (RBI) had projected a more modest Q1 growth of 6.5%, with overall real GDP growth for 2025-26 expected at 6.5%. RBI Governor Sanjay Malhotra attributed the positive outlook to favorable conditions, including a good monsoon, lower inflation, and strong government capital expenditure.
He said, “The above normal southwest monsoon, lower inflation, rising capacity utilisation and congenial financial conditions continue to support domestic economic activity. The supportive monetary, regulatory and fiscal policies, including robust government capital expenditure, should also boost demand. The services sector is expected to remain buoyant, with sustained growth in construction and trade in the coming months.”
India remains fastest-growing major economy
With China reporting 5.2% growth in April-June, India has retained its position as the world’s fastest-growing major economy. The latest figures highlight resilience in the face of external pressures, including recent US tariffs on Indian imports.
Sensex falls 600 points, nifty slips 180 as US tariffs hit Indian markets
Indian equity markets witnessed sharp declines as US tariffs on Indian imports took effect. Sensex dropped over 600 points, while Nifty fell nearly 180 points in early trade.
Indian stock markets opened lower on Thursday, reeling under the pressure of fresh US tariffs imposed on Indian goods.
At 9:17 am, the BSE Sensex dropped over 600 points to trade at 80,315, while the Nifty 50 declined nearly 180 points to 24,583. This comes a day after Washington enforced an additional 25% duty on Indian imports, raising the total tariff to 50%.
Broad-based sell-off across sectors
Market sentiment remained weak with 14 of the 16 major sectors posting losses. Small-cap and mid-cap indices also dipped, losing 0.2% and 0.1%, respectively.
The fall follows a steep correction earlier this week. On Tuesday, before the tariff announcement, both Nifty and Sensex fell by around 1% — their sharpest single-day decline in three months. Domestic markets remained closed on Wednesday for a local holiday.
Analysts warn of near-term pressure
According to market experts, Indian equities are likely to witness further volatility as investors digest the impact of the US action. The tariffs were imposed in retaliation for India’s continued crude oil imports from Russia, a move that has escalated trade tensions between the two nations.
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