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Budget 2022 is the hottest topic in the market right now with every news channel finally getting some time from their rant and showing something worth the hype. The Union Budget 2022 will be presented on the 1st of February by Ms. Nirmala Sitharaman , our current finance minister.
Every year, the overall goal of the Union Budget is to achieve our country's quick and sustainable economic growth while also ensuring equality and social justice.
The Union Budget is supposed to focus on various factors like reducing unemployment and poverty level, keeping a check on prices , tax structure and a lot of other things.
Like every other hyped thing , this year's budget has its own expectations.
Overall this year's Budget is likely to focus on accelerating India's restoration from the “virus blow”, as well as improving the national health - care system to prevent future outbreaks.
Talking about “virus blow”, the average man wants better hospitals all around the country so that he does not have to go to a private hospital for primary healthcare treatment.
As usual, taxpayer businesses and even individuals expect a reduction of taxes which could help them recover from the pandemic hit.
The banking industry is lobbying for further income tax relief on house loans.
Some relaxations are likely to make the provisions more watertight and clear, ensuring that unwarranted banking and finance transactions involving a digital aspect are not included in the equalization levy's scope, especially given that OCED's Pillar One also proposes to exclude regulated financial services.
Stock market participants are requesting that the Modi administration take a plan to encourage more foreign investment.
Extend the threshold of section 80C as well as other comparable deductions. It has been suggested several times that the ceiling of these sections be extended from 1.5 to 3.0 lac, which will enable many Indians to save more.
Because of the increased Section 80 limit, more individuals are now purchasing health insurance. There has also been a huge rise in public awareness, and many people are now purchasing medical insurance. To make it even higher, the government must boost the ceiling from 25,000 to 50,000.
The little focus of this year's Budget will also be on infrastructure improvements. The budget may include a listing of government assets, which might include everything from roads to railways.
Cryptocurrency
In the last 2-3 years crypto sector has gone through an exponential growth but it was rumoured that a law will be tabled in parliament's winter Session that would either prohibit or govern the asset, due to risks involved with the industry.
Buying and selling cryptocurrencies might be included in the Statement of Financial Transactions (SFT), similar to how trading organizations record the sale and purchase of stock and mutual fund units.
It can be possible that instead of prohibiting dealing in cryptocurrencies, the government may levy a tax.
Tell us your expectation from the budget of 2022 in the comment section. Also, check our latest blog on various candlesticks patterns.
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