Budget 2022  Highlights: Top 10 Takeaways

1. Capital expenditure to be stepped up by 35.4%.  Outlay for capital expenditure to be upped from Rs 4.54 lakh crore earlier to Rs 7.50 lakh crore in 2022-23

2. PM Gatishakti programme emphasised 7 engines of growth (roads, railways, airports, ports, mass transport, waterways, logistics infrastructure). 

3. ECLGS Scheme for MSMEs extended to March 2023 and expanded.  Added cover of Rs 50,000 crore. Total cover now at Rs 5 lakh crore

4. SEZ Act to be replaced with    new legislation.  It will cover all large existing and new industrial enclaves to enhance competitiveness of exports

5. Crypto tax provision. Any income from transfer of any virtual digital asset to be taxed at 30%.  TDS at 1% above certain monetary threshold.

6. Lower tax on new manufacturing units extended. 15% lower tax rate for manufacturing units extended for one more year till March 2024.

7. Post Office banking boost.  100% of India’s 1.5 lakh post offices will be on-boarded on core banking system in 2022

8. Digital rupee.  India to introduce digital rupee issued by RBI in FY23

9. Schemes on Low Income Housing + Tap Water In Homes sustained. Current coverage of Har Ghar Nal Se Jal is 8.7 crore. Housing projects allotted Rs 48,000 cr for FY23

10. Atmanirbhar defence      manufacturing.  68% of defence procurement budget earmarked for domestic private industry.