Business

Huge Expansion On Capital Expenditure Real Highlight Of Budget: NITI Aayog CEO

this is an ad

Mumbai: Union Budget 2022-23 is a very progressive and forward-looking Budget, NITI Aayog CEO Amitabh Kant said on Tuesday.

“It prepares India for the next stage of its sustained growth. It is a continuation of last year’s Budget. The real highlight of the Budget is its huge expansion on the capital expenditure,” Kant said.

He further said that this budget looks at sunrise areas of development as people always see sunset areas of development. India needs to go digital and green, which is basically what this budget is all about.

“This Budget looks at sunrise areas of growth. India needs to go green, India needs to go digital and that is what this Budget pitches for. It pushes for urbanization, clean electricity, clean mobilization, and digital rupee,” he said.

Speaking to ANI on Union Budget 2022-23, he said “The Reserve Bank of India (RBI) will implement a digital rupee this year and India going to be the first country to implement and regulate the digital rupee. The 30 per cent tax on virtual digital assets will help to regulate the crypto. The high tax is good as digital currency sees much fluctuation and the common man invest in it. The government will implement it with high taxes.”

He further said that this budget looks at sunrise areas of development as people always see sunset areas of development. India needs to go digital and green, which is basically what this budget is all about.

This reduces the capital surcharge on capital gains tax to a flat 15 percent. He said that the budget emphasizes on clean electricity, digital rupee and it highlights several areas of development that India needs to move forward in the coming decade.

Union Finance Minister Nirmala Sitharaman announced on Tuesday that income from digital asset transfers will be taxed at a rate of 30 per cent.

This move is seen as ‘crypto tax’. Presenting the Union Budget 2022-23 in the Lok Sabha, Sitharaman said gifts received in the form of cryptocurrencies will also be taxed at the same rate.

The Finance Minister also announced that the Reserve Bank of India will issue a digital rupee in the next financial year.

Follow us on TwitterInstagram, and like us on Facebook for the latest updates and interesting stories.

Tags
Show More
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker