One of the highlights of Union Budget 2022-23 was the proposal to levy a steep 30% tax on gains made from digital assets, beginning April 1. The budget also proposed a 1% TDS on payments towards virtual currencies beyond Rs 10,000 in a year. We explain the new tax proposals and the impact it will have on crypto investors in India. ***
Notwithstanding the prickly ties with China, the government gave a modest 4.43% hike to its defence budget this year, taking it to 5.25 trillion rupees. But, at the same time, it gave a big push to Make in India in defence, which could bring some cheer to India Inc.
A massive 68% of the capital procurement allocation has been earmarked for the domestic industry. What does Budget 2022 mean for the indigenous defence industry?
***
The Union Budget has unnerved the bond markets. The 10-year government bond yields have risen nearly 3% in two days, quoting at their highest levels in two years. We explore key reasons behind the sharp upswing in yields, and what it means for equity investors.
***
Budget not just lifted the sentiments of investors giving some leg up to the market, but it also made environmental activists happy. They hailed the government’s proposal to issue Sovereign Green Bonds. An explainer on what these bonds are, and why they have been named green.
Listen to these and more in this edition of The Business Standard Morning Show podcast.
Watch video
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU