Budget 2022 News LIVE Updates: Budget 2022 could aim to boost growth and achieve fiscal consolidation, report says

Ahead of the upcoming national elections, the Union’s budget for the financial year 2022-23 will aim to boost growth, achieve fiscal consolidation and boost consumption, the Bank of Baroda (BoB) said in its statement. latest economic research report.

FM Nirmala Sitharaman is set to present the Union Budget 2022 on February 1, as people from various walks of life pin their hopes on government decisions and announcements in different sectors. Although many measures have been taken by the Center to deal with the economic consequences of the pandemic, great challenges remain. These challenges should be addressed by the Minister of Finance in her next budget presentation. As Assembly elections in four states and one union territory draw closer, the government could also opt for populist measures while continuing to increase spending to support economic recovery.

Last budget

  • The Union Budget 2022-23 to be presented by Finance Minister Nirmala Sitharaman on February 1 will be in dematerialized form
  • No ‘halwa’ ceremony this time amid Omicron worries
  • Rajya Sabha leaders to meet virtually on January 31
  • Strict Covid-19 protocols will continue in parliament
  • Congress to raise issue of farmers, Chinese aggression and Air India divestment

Budget expectations

  • Real estate sector pinning high hopes on budget to boost market sentiment
  • Economy may need more support, fiscal correction can wait, says recent report
  • Budget aims to boost growth and achieve fiscal consolidation, BoB eco research says
  • Real estate sector expects tax relief and industry status from Sitharaman
  • Experts want the budget to focus on reducing inequalities in the economy and creating jobs
  • PVC producers say they won’t touch import duties on materials
  • Pharma wants Budget to announce R&D incentives
  • India expected to increase budget spending on infrastructure
  • The budget should announce something to encourage entities to build a world-class shipping line, says FIEO
  • The Aluminum Association calls for the elimination of the coal tax in the next Union budget
  • Small businesses and MSMEs seek easier access to capital at lower interest rates
  • Budget 2022 will put the triggers facing the EV industry at the top of its agenda

Budget and markets

  • Market watchers believe that despite the higher target divestment for the coming fiscal year in the Union budget, LIC’s IPO will be key to the targets.
  • Although the market perceives volatility before and after the budget, net-net, the event leaves almost no impact on the two-week period
  • Center risks missing divestment targets and sales of strategic stakes in fiscal 2021-22
  • Market experts say divestment and privatization should gain traction
  • Crypto startups seeking clarity on issues such as taxation, legislation, exemptions and regulations
  • Analysts see no change in capital gains tax on stocks

Expert opinion
The real estate sector expects the government to respond to its long-standing demand for industry status and one-stop clearance in the upcoming budget. Bagging the status of the industry will help the real estate sector to benefit from legitimate and easy financing from banks and financial institutions.
– Mohit Goel, MD, Omaxe Ltd

With the approach of the budget, it is high time that the government looks into the challenges of the health sector and increases investments. Currently, India spends 1.5% to 2% of its GDP on health, while US figures are over 16%, Canada over 10% and Scandinavian countries 20%.
– Dr. Yash Gulati, Padma Shri, Orthopedic Surgeon

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Strict Covid-19 protocols will continue in parliament

In the wake of the rise in COVID-19 cases, the next budget session of Parliament will be held under strict Covid protocols as prescribed by the Department of Health.

India’s renewable energy sector could employ 1 million people by 2030: study

According to a study, the renewable energy sector has the potential to employ around one million people by 2030, and most new jobs would be generated by small-scale renewable energy projects.

The world we live in is very uncertain and the level of uncertainty is on the rise. India is like a rock in the ocean. India was good news as it was the fastest growing economy in the world last year and India may overtake other countries like Japan, USA and finally China as is emerging as the new entrant on the global economic road.

– Dr. Frank-Jurgen Richter, Chairman, Horasis addressing the members of Thought Leaders of India (TLOI)

Budget should target long-term holistic growth for auto industry, says Mercedes-Benz India

The 2022 Union budget should aim for long-term holistic growth for the automotive industry by prioritizing job creation, infrastructure development, introduction of the latest technologies and increased decarbonisation efforts , luxury carmaker Mercedes-Benz India said on Friday.

Budget aims to boost growth and achieve fiscal consolidation, BoB eco research says

  • Ahead of the upcoming national elections, the Union’s budget for the financial year 2022-23 will aim to boost growth, achieve fiscal consolidation and boost consumption, the Bank of Baroda (BoB) said in its statement. latest economic research report.
  • He also said there could be changes in tax breaks, while production-linked incentive (PLI) schemes could get a higher allocation to boost investment demand.

LS President Om Birla reviews preparations in Parliament

  • On Friday, Lok Sabha Speaker Om Birla reviewed preparations at the Parliament building
  • The LS president called a multi-party meeting on January 30 before the start of the budget session of parliament
  • During this customary meeting, the leaders of the various political parties will be present to discuss the smooth running of the session of Parliament.

Gujarat-based companies pin high hopes on 2022 budget

  • Industrialists and businesses in Gujarat place high hopes in the government and expect the Union budget to be inclusive and growth oriented
  • Modi-led NDA government bound to spur growth and boost investment with public and private sector confidence in Union Budget 2022
  • Particular emphasis should be placed on creating jobs, increasing consumption and sentiment, and building infrastructure in priority sectors – education, health, rural and MSMEs

Congress to raise issue of farmers, Chinese aggression on LAC and Air India divestment in budget session

Ahead of the start of parliament’s budget session, the congressional parliamentary strategy group held a meeting on Friday, chaired by the party’s acting chairwoman, Sonia Gandhi, via video conference.

Budget forecasts for strong real estate growth

  • Finance Minister Nirmala Sitharaman will table the Union Budget 2022 on February 1 and the real estate sector has high hopes.
  • The growth-oriented measures taken by the government have helped the sector regain momentum and more announcements in this direction may further bolster market sentiments.

Economy needs more support, fiscal correction can wait: Report

Warning that any sudden and harsh fiscal consolidation can stifle India’s nascent and uneven economic recovery, a Wall Street brokerage said the budget should focus instead on boosting aggregate demand, rural consumption in particular, and invest more in infrastructure.

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