Market Budget 2022 LIVE: Sensex up 900 pts, Nifty near 17.6k; metal stocks shine
PremiumStock Market Today: Sensex, Nifty opened higher on Tuesday (MINT_PRINT)16 min read.Updated: 01 Feb 2022, 02:34 PM ISTArindam Roy
Budget 2022 Market LIVE Updates: Benchmark Indian equity indices opened higher on Tuesday. Sensex opened at 58,668.55, up 600 points or 1.13%, while Nifty climbed 154 points, or 0.89%, to 17,493.95. Banks were leading in early trade
Indian indices witnessed a positive start on Tuesday. Finance Minister Nirmala Sitharaman presented her fourth Union Budget in Parliament today. The Budget aims to boost growth amid continued disruption from covid-19 pandemic and rising inflation. The Budget pegged the fiscal deficit for FY22 at 6.9% and announced new investments in the infrastructure sector to boost the economy. The RBI will soon launch a new digital Rupee based on the blockchain technology, while virtual digital assets will be taxed at 30%. For the telecom sector, Sitharaman said that the 5G spectrum auction and rollout will happen in FY23. The emergency credit guarantee scheme for MSMEs and small business has been extended till March 2023 and will cover up to ₹5 lakh crore.
You can read all the live updates and detailed analysis of the Union Budget 2022 here. Click to read
01 Feb 2022, 02:31:41 PM IST
75 Digital Banking units to be setup in 75 districts by scheduled commercial banks
Union Finance Minister Nirmala Sitharaman on Tuesday announced the introduction of Digital Rupee which will be issued by the Reserve Bank of India starting 2022-23, along with the setting up of 75 digital banking units in 75 districts by scheduled commercial banks.
Sitharaman, as per a release of Union Finance Ministry, said that in recent years, digital banking, digital payments and fintech innovations have grown at a rapid pace in the country, and the government has been continuously encouraging them to ensure that the benefits of digital banking reach every nook and corner of the country in a consumer-friendly manner.
01 Feb 2022, 02:26:56 PM IST
ITC up 3%: No rise in taxes of cigarettes, tobacco products
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BSE
01 Feb 2022, 02:19:37 PM IST
Use of ‘Kisan Drones’ will be promoted for crop assessment, digitization of land records, spraying of insecticides, and nutrients: FM
01 Feb 2022, 02:10:40 PM IST
The procurement of wheat in Rabi 2021-22 and the estimated procurement of paddy in Kharif 2021-22 will cover 1208 lakh metric tonnes of wheat and paddy from 163 lakh farmers, and 2.37 lakh crore direct payment of MSP value to their accounts.
01 Feb 2022, 02:08:55 PM IST
Unispiring, unimaginative, unrealistic: Manish Tewari on Budget 2022
Govt pegs total market borrowings in 2022-23 at ₹11,58,719 crore
01 Feb 2022, 02:00:17 PM IST
Disinvestment receipts pegged at ₹65,000 cr next yr; estimates for current year cut to ₹78,000 cr from ₹1.75 lakh cr
01 Feb 2022, 01:59:53 PM IST
Budget has 'zero' for common people, government lost in 'big words signifying nothing': WB CM Mamata Banerjee
01 Feb 2022, 01:56:56 PM IST
‘One Station-One Product’ concept will be popularized to help local businesses & supply chains: FM
01 Feb 2022, 01:49:13 PM IST
Contracts for implementation of Multimodal Logistics Parks at four locations through PPP mode will be awarded in 2022-23: FM
01 Feb 2022, 01:25:44 PM IST
Sensex up 170 points, erased almost 600 points; 12 stocks in red
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BSE Sensex
01 Feb 2022, 01:13:48 PM IST
FM Sitharaman proposes no change in income tax rates and slabs in her Budget for FY'23
01 Feb 2022, 01:11:32 PM IST
Budget 2022: Divestment target for FY23 pegged at ₹65,000 crore
01 Feb 2022, 01:04:32 PM IST
Budget 2022: LTCG
Presently surcharge on long-term capital gain on listed shares and equity funds is capped at 15% but for other LTCG the surcharge us based on total income. Now the FM has proposed cap on all LTCG. - Balwant Jain
01 Feb 2022, 01:00:35 PM IST
India introduces 'crypto tax' of 30 per cent
Union Finance Minister Nirmala Sitharaman announced on Tuesday that income from digital asset transfers will be taxed at a rate of 30 per cent. This move is seen as 'crypto tax'.
Presenting the Union Budget 2022-23 in the Lok Sabha, Sitharaman said gifts received in the form of cryptocurrencies will also be taxed at the same rate.
Cryptocurrencies gifts will be taxed at the receiver's end.
01 Feb 2022, 12:54:27 PM IST
Metal, Pharma lead
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Nifty
01 Feb 2022, 12:53:12 PM IST
New income tax changes announced in Budget 2022. Details here
Taxpayers can file updated ITR within two years of the relevant assessment year, says FM. This is a new provision that will ensure voluntary tax filing and reduce litigation, the FM said. Read full income tax report
01 Feb 2022, 12:50:27 PM IST
Budget 2022: Deficit/Expenditure
* Proposes fiscal deficit of 4.5% of GDP by 2025/26
* Projects fiscal deficit of 6.4% of GDP in 2022/23
* Revised fiscal deficit for 2021/22 at 6.9% of GDP
* Total expenditure in 2022/23 seen at 39.45 trillion rupees
* States will be allowed 4% fiscal deficit to GDP in FY23
* 50 year interest free loans over and above normal borrowing allocated to states
* Scheme for financial assistance to states for capital investment outlay to be 1 trillion rupees in 2022/23
01 Feb 2022, 12:49:19 PM IST
FM's shortest Budget speech may prove to be most impactful: Anand Mahindra
Brevity has always been a virtue. @nsitharaman ‘s shortest budget address may prove to be the most impactful…
Import duty on certain chemicals are being reduced: FM
01 Feb 2022, 12:36:29 PM IST
FM Nirmala Sitharaman ends her Budget 2022 speeech
01 Feb 2022, 12:31:33 PM IST
Nifty50 under 17,600
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BSE
01 Feb 2022, 12:29:12 PM IST
Top Sensex losers
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BSE
01 Feb 2022, 12:28:47 PM IST
Top Sensex performers
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BSE
01 Feb 2022, 12:27:15 PM IST
Market performance
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BSE
01 Feb 2022, 12:25:00 PM IST
GST collection for January at ₹1.41 lakh crore, highest since inception: FM
01 Feb 2022, 12:21:39 PM IST
Total expenditure in FY23 estimated at ₹39.45 lakh cr; total resources mobilisation to be ₹22.84 lakh cr other than borrowing: FM
01 Feb 2022, 12:20:44 PM IST
To provide an opportunity to correct an error, taxpayers can now file an updated return within 2 years from the relevant assessment year: FM Nirmala Sitharaman
01 Feb 2022, 12:20:19 PM IST
I propose to provide that any income from transfer of any virtual digital asset shall be taxed at the rate of 30%: FM
01 Feb 2022, 12:19:50 PM IST
PE/VC invested ₹5.5 lakh crore in startup, expert committee will be set up to suggest measures to help attract investment: FM
01 Feb 2022, 12:19:38 PM IST
Corporate surcharge to be reduced from 12% to 7%: FM Nirmala Sitharaman
01 Feb 2022, 12:18:29 PM IST
For 2022-23, allocation is ₹1 lakh cr to assist the states in catalyzing overall investments in economy: FM
For 2022-23,allocation is ₹1 lakh cr to assist the states in catalyzing overall investments in economy. These 50-yr interest-free loans are over&above normal borrowings allowed to states. It'll be used for PM Gati Shakti-related&other productive capital investments of states:FM pic.twitter.com/WEOgYrkz5U
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