Union Budget 2022-23
The Finance Minister of India Mrs. Nirmala Sitharaman presented the Union Budget 2022-23 in Lok Sabha and in her 90 minutes long speech she announced the government's expenditure outlay for 2022-23. In this budget she announced some major takeaways which are listed below: Key Highlights of Budget 2022-23: The country is expected to grow at 9.27% in the coming year highest among the developing and developed countries. In this budget focus is on inclusive development, energy transition, digitization and climate action. Fiscal Deficit for the current year is at 6.9% of GDP. There is no change in the income tax slabs for this year, Effective expenditure will be 10.68 lakh crore or 4.1% of GDP. Capital expenditure raised by 35.40% from 5.54 lakh crore to 7.50 lakh crore. Spectrum auction will be conducted to roll out 5G mobile services within 2022-23 by private firms. The Draft Red Herring Prospectus (DRHP) for India's biggest Insurance company LIC will be completed by...