- Capital expenditure to be stepped up by 35.4%
- Fiscal deficit at 6.4% in FY23
- ECLGS has been extended up to March 2023 with a guarantee cover by ₹50,00 crores to a total cover of ₹5 lakh crores
- India to levy 30% tax on crypto gains
- 15% lower tax rate for manufacturing units extended for one more year till March 2024
- India to introduce digital rupee issued by RBI in FY23
- ₹60,000 crores allocated for providing access to tap water to 3.8 crore households
- 68% of the defence procurement budget would be earmarked for domestic manufacturing companies
- Housing projects allotted Rs 48,000 cr for FY23 under the PM Housing scheme
- "One Class, One TV Channel" program of the PM eVidya will be expanded from 12 to 200 TV Channels
- No change in personal income tax
- For all the taxpayers who made mistakes while paying taxes, can now file an updated return within 2yrs from the relevant assessment yr
- Corporate Surcharge to be reduced from 12% to 7%
Verdict
Budget seems positive.
No major changes.
And market always wants minimum changes. Certainty is desirable.
Overall good for the markets.
Now the focus will be back to global clues, FIIs.
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