On Friday the Lok Sabha approved and passed the Finance Bill for the 2022-23 year. While today Manish Sisodia is to present the annual budget for FY 2022-23 in Delhi.
On Friday the Lok Sabha approved and passed the Finance Bill for the 2022-23 year which gives effect to new taxation and hence completing the Budgetary exercise for 2022-23 fiscal. Before this, Nirmala Sitharaman Finance Minister moved the Finance Bill 2022 for consideration and passage.
The Finance Bill was approved after accepting 39 official amendments moved by Finance Minister Nirmala Sitharaman by the Lower House. While refusing the proposed amendments by the opposition by voice vote.
“According to an OECD report, as many as 32 countries have increased the tax rates after the pandemic,” she said. While replying to a discussion on the Finance Bill, Finance Minister said “India was probably the only country that did not resort to new taxes to fund the recovery of the economy hit by the Covid pandemic”.
Looking forward to the work of the Modi government she believes in lowering taxes, she said the reduction in corporate tax has “helped the economy, government, and companies, and we are seeing the progress”. She said ₹7.3 lakh crore has been collected as corporate tax so far this fiscal.
Nirmala Sitharaman said referring to the Budget’s focus on raising capital expenditure “Instead, we put more money where multiplier effect would be maximum.” The Budget 2022-23 raised Capex by 35.4% to ₹7.5 lakh crore to continue the public investment-led recovery of the pandemic battered economy.
The number of taxpayers has increased to 9.1 crores from 5 crores a few years back, she said, adding the government is taking steps to widen the tax base and the faceless assessment has been received well by people.
While today Manish Sisodia is to present the annual budget for FY 2022-23 in Delhi
- The budget session of the Delhi Assembly commenced on March 23 and will conclude on March 29
- Yesterday, Manish Sisodia tabled the Outcome Budget 2021-22 in the assembly highlighting achievements of top-performing departments like education, transport, health, and finance
On Saturday, March 26 Manish Sisodia Delhi Deputy Chief Minister and Finance Minister will present the annual budget for the financial year 2022-23 in the Delhi Assembly. After the annual budget, the minister will present the Demands for Grants for the Financial Year 2022-23 and Supplementary Demands for Grants for the Financial Year 2012-22.
Edited by Subbuthai Padma
Published by Iram Rizvi
