2022
Union Budget 2022 will be presented at a time when India's economic recovery from the pandemic blow is firming up. Infrastructure spending is likely to remain the top focus, along with additional allocation for ramping up India's healthcare facilities. The finance minister is expected to make announcements to clear the cobwebs for making India more business-friendly, in line with recent moves like scrapping retrospective taxation.
Latest on the Budget
The Union budget 2022-23 to be presented by finance minister Norman Starman on February 1 will be in paperless form
No 'Zero Hour' on 31st January and 1st February
No ‘HAWA’ ceremony this time around amid Omicron worries
Raja Sheba floor leaders to meet virtually on January 31
Strict Covid-19 protocols will continue in parliament
Congress to raise farmers' issue, Chinese aggression, Air India disinvestment
Budget expectations
Fintech industry hopes for incentives in the Budget to push financial inclusion
Scheme to develop 700 districts as export hubs on the cards
The realty sector is pinning high hopes on the Budget to boost market sentiments
The Economy may need more hand-holding, fiscal correction can wait, shows a recent report
Budget to aim at boosting growth, achieving fiscal consolidation, says Bob eco research
Real estate sector expects tax relief, industry status from Starman
Experts want the Budget to focus on bridging widened inequality in the economy and create jobs
PVC producers say leave the import duty on material untouched
Pharma industry wants the Budget to announce incentives for conducting R&D
India is likely to boost budget spending on infrastructure
The Budget should announce something to encourages entities to build a world-class shipping line, says FIE O
Aluminum Association seeks elimination of coal CSS in upcoming Union Budget
Small businesses and MSMEs seek easier access to capital at lower interest rates
Extend benefit of MAY, CLSS to encourage housing consumption, says Rajeev Salwar, former President PhD CCI
Budget and Markets
Market watchers believe that despite the higher target divestment for the upcoming financial year in the Union Budget, LIC IPO will be the key for the targets.
Though market sees volatility pre-and post-Budget, net-net, the event hardly leaves any impact in the two-week period
Center is likely to miss the targets of divestment and the strategic stake sales in FY2021-22
Market experts believe disinvestment and privatization are likely to gain further traction
Crypto startups seeking clarity over issues like taxation, legislation, exemptions and regulations
Analysts do not see any change in capital gain tax on equity
Minds behind Budget 2022
TV SWAMINATHAN, Finance Secretary and Secretary, Department of expenditure
AJAY SETH, Secretary, department of economic affairs
DEBASING PANDA, Secretary, Department of Financial Services
TA RUN BAJAJ, Secretary, Department of Revenue
TURIN SANTA PANDER, Secretary, Department of Investment & Public Asset Management
Expert opinion
"The stock market is an engine of economic growth. After two tumultuous years, India's economy is likely to be the fastest-growing major economy in the world again, according to most productions. Nudging more people to participate will only support future growth.
- Kavita Subramaniam, Co-Founder, Upshot
"Unlike last year when the US Federal Reserve was unleashing a deluge of liquidity in the international banking system, in 2022 the Indian government is drawing up its annual Budget at a time when global financial conditions are not quite so conducive. With the Fed signalling an aggressive rate hike path, the degree of monetary support that the Reserve Bank of India has the room to extend is now constrained, and the government may therefore have to rely more on fiscal ammunition to ensure that the country’s growth recovery remains on track.
- HDFC Bank’s Chief Economist
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