The Session will be held in two parts — the first part of the Budget session will conclude on 11 February, the second part of the Budget Session will begin on 14 March and end on 8 April
Union Finance Minister Nirmala Sitharaman will present the Union Budget 2022 in Parliament on 1 February. This year, people are hoping for the government’s financial statement to provide opportunities for economic growth. There is also speculation about the measures the Centre might undertake to tackle economic recovery in the midst of the ongoing COVID-19 pandemic.
As the date for the presentation of the Budget nears, here’s all you need to know about it:
Budget 2022: Date and time
The Union Finance Minister will present the budget in Parliament on 1 February at 11 am. The duration of the Budget presentation will most likely be between 1 hour 30 minutes to 2 hours. However, the duration of the presentation may well exceed the usual time. Last year’s budget speech, which lasted for 2 hours 40 minutes, was the longest in the country’s history.
Budget 2022: Where to watch
People can watch the Budget 2022 speech live on Lok Sabha TV. Apart from this, people can also watch the Budget presentation on social media websites such as YouTube or Twitter. The Budget will also be broadcast live by news channels.
Budget Session details:
The Budget session will begin with President Ram Nath Kovind’s address to the joint sitting of two Houses on 31 January.
The Session will be held in two parts — the first part of the Budget session will conclude on 11 February. The second part of the Budget Session will begin on 14 March and end on 8 April.
The Economic Survey will be tabled in Parliament on 31 January. The survey examines the country’s economic development in the past year and also highlights major challenges present in the economy and their possible solutions.
Budget 2022: What to expect
This year, the focus of the Central Government is expected to be on accelerating India’s economic recovery from the COVID-19 pandemic. The government is also expected to announce measures to strengthen the healthcare system. As per News18, Rs 35,000 crore was allotted by the Central Government for coronavirus vaccines last year.
The focus could also be on the insurance sector, as well as providing relief to the manufacturing industry.
This year, the taxpayers are also expecting a reduction in tax rates and surcharges. Taxpayers are also hoping for a hike in standard deduction and revised tax slabs this year.
Industries such as the retail sector or fintech are hoping for easier compliance norms.
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