Finance Minister Nirmala Sitharaman presented the general budget for the fourth time in a row, but there was a lot of talk in these recommendations but the common man did not seem to get any relief. There is no change in the income tax threshold in these budget recommendations. The center of Nirmala Sitharaman’s budget 2022-23 was Amrit Mahtso, the centenary of independence.
The Finance Minister announced that the RBI would soon release digital currency, meaning that the way has been paved for digital currency in the country. The income tax from this is definitely higher but this is the first time that the government has opened the door to digital currency. In this budget, it was hoped that big announcements could be made for the farmers. But this did not happen, whatever the announcements are, they do not appear to be of immediate benefit to the farmers.
It should be noted that Nirmala Sitharman has reduced the customs duty on diamond jewelery but has increased the import duty on umbrellas, ie jewelery will be cheaper and umbrellas will be more expensive. On the other hand, the government has taken a big decision that it has reduced the corporate tax and surcharge, that is, a big relief for the corporate families and the opposition will make it a big issue.
The Finance Minister said that the government has received the highest amount of GST this time. “It’s the highest ever,” he said. Efforts have been made to bring relief to small businesses, but when it comes to providing employment, the government will provide only six million jobs, meaning the ruling party’s promise of 20 million jobs every year is proving to be a joke. ۔
The Finance Minister said that one country one policy will be followed. One lakh crore rupees will be given to the states. Many announcements have been made for women. Announcements have also been made for the education of students and construction work has also been announced for the railways.