India Union Budget 2022: What gets costly, what will be cheaper
Categories: Budget Special
Union Budget 2022 was presented by India's Finance Minister Nirmala Sitharaman in the parliament on Tuesday (February 1). The budget was unique as it brought income from cryptocurrencies in the ambit of taxes. Introduction of digital rupee has also been included in budget 2022.Indian budget 2022 is no exception to this. The provisions will result in some items getting costlier while others get cheaper. These imported items are set to get costlier
With Union Budget 2022, Indian government will spend 39.45 trillion rupees ($529.7 billion) in the coming fiscal year to build public infrastructure and drive economic growth. total government spending in the 2022/23 fiscal year beginning in April will be 4.6% more than the current year.
Growth is estimated to be 9.2% for 2021/2022, coming off the low base and slowing to 8 to 8.5% in the coming fiscal year, still the fastest among the world`s major economies.