Page 20 - Budget 2022

Budget 2022: RBI to issue digital rupee using blockchain in FY23, says FM

The government has also decided to levy 30% tax, the highest tax band in India, on income arising out of digital assets, says FM Sitharaman

Budget 2022: Sitharaman says RBI to launch digital cryptocurrency

India's central bank has voiced 'serious concerns' around private cryptocurrencies on the grounds that these may cause financial instability

India to introduce new policy for battery swapping in clean mobility push

Shares of Indian battery makers Amara Raja Batteries and Exide Industries rose 2% after the announcement

Data centre, energy storage system to be given infrastructure status: FM

Finance Minister Nirmala Sitharaman on Tuesday said data centre and energy storage system will be given infrastructure status to provide easy financing to the sector

Four pilot projects for coal gasification to be set up: Sitharaman

Gasification of coal is a process in which coal is partially oxidated by air, oxygen, steam or carbon dioxide under controlled conditions to produce a fuel gas

Spectrum auctions in 2022 to facilitate roll-out of 5G services: FM

The government will conduct a spectrum auction this year, which will facilitate the roll-out of 5G services by private telecom operators during the financial year 2022-23, Finance Minister Nirmala Sitharaman said on Tuesday. "Spectrum auctions will be conducted in 2022 to facilitate the roll-out of 5G mobile services within 2022-23 by private telecom providers," Sitharaman said. She said the telecommunications sector in general and 5G, in particular, can enable growth and offer job opportunities. "A scheme for design-led manufacturing will be launched to build a strong ecosystem for 5G as part of the production-linked incentive scheme," the FM said. She said that to enable affordable broadband and mobile service proliferation in rural and remote areas, 5 per cent of annual collections under the universal service obligation fund will be allocated. "This will promote R&D and commercialisation of technologies and solutions. Our mission is that all villages and their residents should

FM proposes to issue sovereign green bonds to mobilise resources

Finance Minister Nirmala Sitharaman on Tuesday proposed to issue sovereign green bonds to mobilise resources as part of the government's borrowing programme

FM Sitharaman proposes battery swapping policy for EV charging stations

She also announced the introduction of modern building by-laws

Govt committed to reduce imports in defense sector: FM Sitharaman

The government is committed to reduce imports and promote self-reliance in the defence sector, Finance Minister Nirmala Sitharaman said on Tuesday. She said that 68 per cent of capital for the defence sector would be earmarked for the local industry. Sitharaman also said that 5 per cent of Universal Service Obligation (USO) Fund would be provided for R&D and technology upgradation. "Contracts for laying of optical fibre net to all villages under BharatNet to be provided under PPP mode," she added. Further, she noted that risks of climate change are the strongest externalities for the world and a low carbon development strategy would open employment opportunities.

'Additional allocation of Rs 19,500 cr for solar modules under PLI scheme'

Finance Minister Nirmala Sitharaman on Tuesday said Rs 19,500 crore additional allocation under the PLI scheme for manufacturing high efficiency solar modules has been made

Spectrum auction to be conducted for 5G rollout by 2022-23: Sitharaman

In her Union Budget 2022-23 speech, she also said voluntary exit for corporates will be cut down to 6 months from 2 years

Govt to promote Kisan Drones, chemical-free natural farming in 2022-23: FM

Presenting the Budget 2022-23 in Parliament, Sitharaman said the inclusive development is one of the four priorities of the government moving forward

PLI scheme may generate 6 million jobs in next 5 years: FM Sitharaman

Presenting the Union Budget 2022-23, her fourth budget to date, she said that the PLI schemes have received tremendous response

100 PM Gati Shakti Cargo terminals to be developed in 3 years: FM

Finance Minister Nirmala Sitharaman on Tuesday said that 100 cargo terminals will be developed during the next three years under the PM Gati Shakti master plan.

Budget 2022: New scheme for North East to be launched, says FM Sitharaman

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.

150,000 post offices in India to be connected to core banking system: FM

All 150,000 post offices will be connected to the core banking system that will enable people to access their account online and also transfer money within post office accounts and to other banks

Natural farming will be promoted along Ganga river corridor: FM

In her Budget Speech 2022-23, she also informed that two lakh anganwadis will be upgraded for improving child health

Scheduled commercial banks to set up 75 digital banks in 75 districts: FM

Scheduled commercial banks will set up 75 digital banks in 75 districts to encourage digital payments, Finance Minister Nirmala Sitharaman said on Tuesday

Budget 2022: ECLGS scheme to be extended till Mar 2023, says FM Sitharaman

Finance Minister Nirmala Sitharaman on Tuesday proposed to further extend the Emergency Credit Line Guarantee Scheme (ECLGS) till March 2023, with an expanded guarantee cover of Rs 5 lakh crore. She also said the draft DPRs (detailed project report) for five river links have been finalised and the implementation of Ken-Betwa rivers linking with an estimated cost of Rs 44,605 crore will be taken up. In her Budget Speech 2022-23, Sitharaman said Kisan drones for crop assessment, land records and spraying of insecticides are expected to drive a wave of technology in the agriculture sector. "ECLGS scheme to be extended till March 2023 and guarantee cover expanded by Rs 50,000 to Rs 5 lakh crore," she said.

Digital university to be set up to provide education: FM Sitharaman

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