2022 Union budget of India explained

Presented:1 February 2022
Deficit:6.4%
Tax Cut:None
Passed:29 March 2022 [1]
Year:2022
Date Submitted:1 February 2022
Submitter:Nirmala Sitharaman
Next Year:2023
Next Budget:2023 Union budget of India
Previous Year:2021
Previous Budget:2021 Union budget of India
Country:India

The 2022 Union Budget of India was presented by the Minister of Finance Nirmala Sitharaman on 1 February 2022, as her fourth budget. This is the third budget of Narendra Modi-led NDA government's second term. The Economic Survey for 2021–2022 was released on 31 January 2022, a day before the budget.[2]

History

The Union Budget is the annual financial report of India; an estimate of income and expenditure of the government on a periodical basis. As per Article 112 of the Indian Constitution, it is a compulsory task of the government.[3] The first budget of India was presented on 18 February 1860 by Scotsman James Wilson.[4] The first Union Budget of Independent India was presented by RK Shanmukham Chetty on 26 November 1947.[5]

Announcement

In the 2023-24 Union Budget,[6] the healthcare sector receives ₹89,155 crore, a 13% increase from the previous year's ₹79,145 crore allocation

Further reading

2021 Union budget of India

Notes and References

  1. Web site: Parliament passes union budget. Indian Express. 30 March 2022.
  2. Web site: Budget 2022 Live Updates: No changes in Income Tax, big push for capex . The Indian Express . 1 February 2022 . 1 February 2022.
  3. News: Budget 2020. Business Standard India. 2020-01-13. live. https://web.archive.org/web/20200113120322/https://www.business-standard.com/budget. 13 January 2020.
  4. Web site: Budget 2020: James Wilson, the man who brought budget, income tax to India. www.businesstoday.in. 31 January 2020 . en. 2020-02-03.
  5. Web site: First Union Budget, November 1947: The crying concern was to dress wounds of uprooted humanity. www.telegraphindia.com. en. 2020-02-03.
  6. Web site: 2023-02-01 . Union Budget 2023: Health sector allocation sees 13% hike . 2023-10-18 . mint . en.