Union Budget 2022 – Announcements and Impact on Various Sectors in India
On February 1, 2022, the Union Finance Minister Nirmala Sitharaman presented the Budget 2022. The Finance Minister defined the budget with a vision “Amrit Kaal - The 25-year-long lead up to India@100.” The main objective as defined by the Finance Minister is to combine over the next quarter of a century with a focus on growth and ‘all-inclusive welfare’. Few of the major announcements have made it clear that the government’s priorities lie in long term growth and sustainability rather than short term focus, with apparent absence of a sense of urgency in the budget.