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

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

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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

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

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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.

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

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

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

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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

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

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