Budget 2022 updates: Sitharaman reaches Parl; Budget speech at 11 am
Published On: Tuesday, February 1, 2022 | By: Team KnowMyStock
Finance Minister Nirmala Sitharaman will present her fourth Union Budget in Parliament at 11 am today(1st February 2022) in a paperless format. The Budget speech will be keenly watched by both domestic and foreign investors, various interest groups like farmers, crypto Investors, anxious middle class, and corporate entities, besides parliamentarians. Ahead of the Budget presentation, Sensex jumped over 700 points. led by gains in IT and banking counters. Clarity on cryptocurrency sops to real estate, and the abolition of STT would be on top of investor radar.
Yesterday, the Economic Survey 2021-22, tabled by FM in Parliament, projected the economy to grow by 8-8.5% in the financial year beginning April 1 and said it was well placed to meet the future challenges on the back of widespread vaccine coverage, supply-side reforms and easing of regulations. The Survey expects the economy to grow by 9.2% during the current financial year, indicating a recovery to the pre-pandemic level.
Budget 2022 will also be keenly watched for any change in income tax rates and income tax slabs, besides the finance minister's fiscal deficit target and disinvestment road map.
While the country awaits FM Sitharaman's Budget presentation, there are some key issues we must keep in mind, as mentioned by principal economic advisor Sanjeev Sanyal- we live in uncertain times. Geopolitical risks are bubbling up, oil prices have spiked up and withdrawal of global liquidity by major central banks is likely.
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