stockpro BUDGET 2022: EXPLAINED BY STOCKPRO
According to Nirmala Sitharaman, who presented The Union Budget 2022-23, India’s total expenditure will be Rs 39.45 lakh crore and its fiscal deficit will be 6.4% of GDP. What was in the budget for middle-class families, taxpayers, and investors? The full details are presented here, packed with expert opinions, reports, and in-depth analyses.
Budget 2022 Highlights Union Finance Minister Nirmala Sitharaman expressed empathy on February 1 for those who suffered during the COVID-19 pandemic in her 4th Budget speech. The Indian finance minister said the country’s growth rate is at 9.2%, the highest of all major economies. In the meantime, PM Modi said that at an 11 a.m. program on February 2, he will discuss the ‘people-friendly and progressive’ Budget.
Here are her top budget proposals and announcements so far:
Farmers need a comprehensive package involving state governments and MSMEs to adopt natural farming.
Due to the slow recovery of the hospitality industry in the small and medium sector, the government has decided to extend the ECGL service to this sector by March 2023 with an increased cover amount of Rs 50,000.
Reorientation of industry-related skill-building programs has been announced. A dedicated e-portal will be launched for the skilling, upskilling & reskilling of our youth.
In addition to providing supplementary education in regional languages for classes 1-12, ‘One Class One TV Channel’ will be increased from 12 to 200 TV channels.
To provide students with access to world-class quality education, a digital university is being developed with the ISTE Standards.
The National Tele Mental Health Program will provide mental health counseling.
Atma Nirbhar Bharat is our government’s commitment to our armed forces. Capital budgets will be earmarked for domestic industries at a rate of 68% for 2022-23, up from 58% for 2021-22, the FM said.
An amount of Rs 19,500 crore has been marked for PLI to manufacture high-efficiency polysilicon modules.
The Ministry of Agriculture will offer financial assistance to farmers interested in taking up agroforestry.
It is estimated that between 7 and 8 percent of biomass pellets will be co-fired in thermal power plants, saving 38 million tons of carbon dioxide per year.
In 2022-23, capital expenditures grew by 35.4% from the previous year to 7.50 lakh crore.
To reduce carbon footprint initiatives in the economy, sovereign green bonds will be issued in the public sector.
A duty concession has been granted for high-growth electronics items in order to promote electronics manufacturing.
The duty on diamonds, gems, and polished stones will be lowered to 5%.
Mobile phone parts will be subject to reduced duties.
Capital goods will be subject to a 7.5% customs duty.
Imported capital projects will have a 7.5% customs duty over time.
Indian government releases the Union Budget every year. The Income and Expenditure Account presents the government of India’s revenue and expenditures for a particular fiscal year, which runs April 1 through March 31. Budgets from all sources and expenses of all government activities are aggregated in the Union Budget, which is the most comprehensive account of the government’s finances. In addition to the revenue budget, the capital budget is also included. Estimates for the financial year following are also included. Today, Nirmala Sitharaman, Union Finance Minister, has announced Union Budget 2022, according to tradition.
Is there anything new in the budget this year?
The Union Budget in India was readout for the first time on a tablet in 2021. Finance Minister Nirmala Sitharaman was carrying the device in a compact red case in the customary photo before the presentation of the Budget in Parliament.
The impact of FM Sitharaman’s 5G, infrastructure announcements on stocks in the budget:
LIVE updates on the impact of the budget stock: Finance Minister Nirmala Sitharaman presented a growth-oriented budget for 2022 that touches on nearly every sector. There has been an increase of 1.5 percent in the Nifty and 1.6 percent in the Sensex.
Impact of announcements on stocks:
FM announces a widening of its highway network
Company shares rise up to 3%: PNC Infratech, IRB Infra, Dilip Buildcon, Ashoka Buildcon
Defense capital procurement to be geared toward domestic industry to the tune of 68%
Among the stocks affected are BEL HAL, Bharat Dynamic, Mazagon Dock, and Astra Microwave.
Batteries will be swapped in accordance with a new policy
Amara Raja and Exide stocks were impacted
FM announces spectrum auction for 5G rollout in FY22-23
Among the stocks impacted, Vodafone, Bharti Airtel, and Reliance trade higher.
FM Sitharaman says the national highway network will be expanded by 25,000 kilometers in 2022-23. He calls it “Gati Shakti”.
Impacted stocks include infrastructure stocks like L&T and IRB Infra.
The promotion of chemical-free natural farming will take place throughout the country. Rs 2.37 lakh crore is expected to be spent on agricultural procurement in FY22. Developing a strategy to reduce reliance on oilseed imports
Stocks affected: Fertiliser stocks like Deepak Fertiliser and Chambal Fertiliser
FM to issue e-passports in the near future
TCS rises 1.15 percent as a result of the earnings report
FM revokes anti-dumping duties on some steel products; reduces duty on imported stocks
Stocks impacted: Steel stocks such as Tata Steel
We announce the introduction of 400 new Vande Bharat trains with better efficiency; the development of 100 PM Gati Shakti cargo terminals; and innovative methods for building metro systems.
The stock price of IRCTC, Indian Railways, Rail Vikas Nigam, CONCOR, and Titagarh Wagons surged
According to the news release, the IBC will be amended to enable cross-border insolvency resolution, the winding-up timeline will be reduced from two to six months, and credit costs will decrease.
Nifty Bank gained 1.3% on the stock market
A new fund of Rs 19,500 crore has been allocated to the Solar PV module manufacturing division of PLI
Increase of up to 3% in Tata Power, ReNew Power, and Suzlon Power
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