Speech Analytica: Live analysis of Union Budget 2022
Top editors of India Today analyse Union Budget 2022.
Party over for cryptoassets
Cryptoassets to be taxed at 30% of transfer gains. Irrespective of short or long term. No deduction for expenses. Highest rate of taxation for capital gains on any financial asset. 1% tax collection at source as well. Is party over for cryptoassets?
30 PC tax on gains from the transfer of digital assets -- ring fences / isolates transactions, signals hard stance on cryptos/coins et al
Updated IT Returns
The opportunity for tax payers to correct tax returns is a progressive step.
Capex increase an illusion?
Capex increased by 2 lakh crore. State Governments will be given additional loans of Rs. 1 lakh crore. Green bonds borrowings for public sector. Any real increase in Government's own capex?
digital rupee
Digital Rupee to be issued by the RBI an Exotic idea comes to be. Would be interesting to know Payment App companies reaction
Humungous increase in capex
Raising capital expenditure to 7.5 lakh crore in 2022-23 is humongous. Simultanously FM announced issuance of green bonds and give proceeds to public sector. Does it mean Government will borrow for IREDA, Hydro Power Companies and pass on the funds?
GIFT City Makes An Appearance Again --- international arbitration centre coming up.
200 TV Channel Classrooms -- an idea in the policy school for long --- comes to be. Hope digital versions are made available across devices
Expansion of Digitisation of Post Office Banking Good but does not go the full distance. India Post could be the biggest bank
National ID -- like an Aadhaar -- for Land Registration is a much wanted super move
The national unique ID -- an Aadhaar for land records is a big move with potential
Domestic Defence Procurement
Welcome 68% domestic defence procurement. How much was it last year? What is the share of domestic private procurement.
Policy statis continues
In first 40 minutes, only procedural matters, reiteration of schemes already announced and extension of existing schemes have been spoken of. No major policy reforms or initiatives. Is it Policy Statis?
Extension of Emergency Credit Guarantee Scheme
The extension of Emergency Credit Guarantee Scheme for one more year till 31st March 2023 and increasing the amount to 5 lakh crore indicates continued compromise of credit discipline and showeling of stressed credit under the carpet.
Top editors to analyse Union Budget 2022
After a Covid-battered year and the economy showing trends of recovery, India is hoping for relief on taxes and duties in this Union Budget.