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CURRENT AFFAIRS
1 FEBRUARY 2022
Dr. A. PRABAHARAN
www.indopraba.blogspot.com
Budget 2022: Decoding FM’s Speech for
Govt Job Exams
 FM Nirmala Sitharaman presented Union Budget 2022 in Parliament. While keeping the Income
Tax Slabs unchanged, FM announced a major change in taxation as far as virtual digital assets
are concerned. Union Finance Minister Nirmala Sitharaman proposed a 30 per cent tax on
income from transactions in such assets.
 Furthermore, FM Also proposed Gati Shakti Programme which will boost infrastructure and
create more jobs.
 On education sector, FM has announced launch of a new Digital University as well as expansion
of PM eVIDYA with addition of new TV channels for supplementary education.
 FM Nirmala Sitharaman in term Budget Speech, termed Union Budget 2022 as the foundation
for Amirt Kal of Next 25 Years.
 She said “The Union Budget seeks to lay foundation and give blueprint of the economy over
‘Amrit Kal’ of next 25 years – from India@75 to India@100.”
 At the onset of her Budget Presentation, FM outlined the 4 Key Priorities that the Government
was trying to address through Budget 2022. These are:
 PM Gati Shakti
 Inclusive Development
 Optimize Productivity
 Financial Investment
www.indopraba.blogspot.com
Income Tax Budget 2022: No change in
Income Tax slabs, 30 percent tax on virtual
asset transfer
 Union Finance Minister Nirmala Sitharaman proposed
permission to allow individuals to file an updated Income
Tax Return within two years of the relevant assessment year
under Union Budget 2022-23 on February 1, 2022.
 The announcement aims to provide an opportunity to the
individuals who have made errors while filing the return to
correct their errors within 2 years.
 The Finance Minister did not announce any change in the
income tax slabs, in a huge disappointment for many of the
salaried individuals.
 The income tax slabs and rates will remain same as before.
The salaried individuals were expecting an upward revision
in the basic tax exemption limit.
www.indopraba.blogspot.com
Capex Budget 2022: Capital Expenditure Hike
by 30%
 Union Finance Minister Nirmala Sitharaman announced a 35 per
cent increase in the outlay for capital expenditure in Financial
Year 2022-23 in her Union Budget 2022 speech on February 2,
2022.
 The capital expenditure will be increased from Rs 5.5 lakh crore in
Budget 2021-22 to Rs 7.5 lakh crore in Union Budget 2022-23.
FM Sitharaman announced that the effective capital expenditure
will be Rs 10.68 lakh crore or 4.1 percent of GDP in 2022-2
 The Finance Minister noted that the public capital expenditure
has been raised to pump prime the investment cycle and support
demand, thereby boosting India's economic recovery from the
COVID-19 pandemic.
www.indopraba.blogspot.com
Crypto Budget 2022 Highlights: Digital
Rupee to be Issued
 Finance Minister Nirmala Sitharaman announced the government's intent
to introduce a digital rupee in her Union Budget 2022-23 speech on
February 1, 2022.
 The Finance Minister announced that the digital currency or digital rupee
will be introduced by the central bank of India using block chain and
other technologies.
 The RBI Digital Currency will be issued starting from 2022-23 fiscal year.
FM Sitharaman stated that the introduction of the central bank digital
currency will give a huge boost to the economy.
 The RBI Digital Currency will be the same as the liquid cash we hold in
our wallets and banks, except it would be in a digital form.
 The digital rupee introduced by the RBI will be held in a digital wallet,
under the supervision of the central ban.
www.indopraba.blogspot.com
Economic Survey 2022: 8-8.5% GDP growth
projected for FY23, 9.2 percent for ongoing
FY22
 Union Finance Minister Nirmala Sitharaman tabled the Economic
Survey 2021-22 and the Statistical Appendix in the Lok Sabha on
January 31, 2022.
 The Economic Survey 2022 projects India's GDP to grow at 8-
8.5% in the Fiscal Year 2022-23.
 The GDP growth for the ongoing financial year 2021-22 has
been estimated to be 9.2 percent.
 The Economic Survey 2022 was presented by Principal
Economic Adviser Sanjeev Sanyal and new Chief Economic
Advisor (CEA) Dr V Anantha Nageswaran during a press
briefing.
 The new Chief Economic Advisor informed that this year's
Economic Survey has been compiled by Principal Economic
Adviser Sanjeev Sanyal and his team of advisors.
www.indopraba.blogspot.com
www.indopraba.blogspot.com

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1 february 2022 current affairs

  • 1. CURRENT AFFAIRS 1 FEBRUARY 2022 Dr. A. PRABAHARAN www.indopraba.blogspot.com
  • 2. Budget 2022: Decoding FM’s Speech for Govt Job Exams  FM Nirmala Sitharaman presented Union Budget 2022 in Parliament. While keeping the Income Tax Slabs unchanged, FM announced a major change in taxation as far as virtual digital assets are concerned. Union Finance Minister Nirmala Sitharaman proposed a 30 per cent tax on income from transactions in such assets.  Furthermore, FM Also proposed Gati Shakti Programme which will boost infrastructure and create more jobs.  On education sector, FM has announced launch of a new Digital University as well as expansion of PM eVIDYA with addition of new TV channels for supplementary education.  FM Nirmala Sitharaman in term Budget Speech, termed Union Budget 2022 as the foundation for Amirt Kal of Next 25 Years.  She said “The Union Budget seeks to lay foundation and give blueprint of the economy over ‘Amrit Kal’ of next 25 years – from India@75 to India@100.”  At the onset of her Budget Presentation, FM outlined the 4 Key Priorities that the Government was trying to address through Budget 2022. These are:  PM Gati Shakti  Inclusive Development  Optimize Productivity  Financial Investment www.indopraba.blogspot.com
  • 3. Income Tax Budget 2022: No change in Income Tax slabs, 30 percent tax on virtual asset transfer  Union Finance Minister Nirmala Sitharaman proposed permission to allow individuals to file an updated Income Tax Return within two years of the relevant assessment year under Union Budget 2022-23 on February 1, 2022.  The announcement aims to provide an opportunity to the individuals who have made errors while filing the return to correct their errors within 2 years.  The Finance Minister did not announce any change in the income tax slabs, in a huge disappointment for many of the salaried individuals.  The income tax slabs and rates will remain same as before. The salaried individuals were expecting an upward revision in the basic tax exemption limit. www.indopraba.blogspot.com
  • 4. Capex Budget 2022: Capital Expenditure Hike by 30%  Union Finance Minister Nirmala Sitharaman announced a 35 per cent increase in the outlay for capital expenditure in Financial Year 2022-23 in her Union Budget 2022 speech on February 2, 2022.  The capital expenditure will be increased from Rs 5.5 lakh crore in Budget 2021-22 to Rs 7.5 lakh crore in Union Budget 2022-23. FM Sitharaman announced that the effective capital expenditure will be Rs 10.68 lakh crore or 4.1 percent of GDP in 2022-2  The Finance Minister noted that the public capital expenditure has been raised to pump prime the investment cycle and support demand, thereby boosting India's economic recovery from the COVID-19 pandemic. www.indopraba.blogspot.com
  • 5. Crypto Budget 2022 Highlights: Digital Rupee to be Issued  Finance Minister Nirmala Sitharaman announced the government's intent to introduce a digital rupee in her Union Budget 2022-23 speech on February 1, 2022.  The Finance Minister announced that the digital currency or digital rupee will be introduced by the central bank of India using block chain and other technologies.  The RBI Digital Currency will be issued starting from 2022-23 fiscal year. FM Sitharaman stated that the introduction of the central bank digital currency will give a huge boost to the economy.  The RBI Digital Currency will be the same as the liquid cash we hold in our wallets and banks, except it would be in a digital form.  The digital rupee introduced by the RBI will be held in a digital wallet, under the supervision of the central ban. www.indopraba.blogspot.com
  • 6. Economic Survey 2022: 8-8.5% GDP growth projected for FY23, 9.2 percent for ongoing FY22  Union Finance Minister Nirmala Sitharaman tabled the Economic Survey 2021-22 and the Statistical Appendix in the Lok Sabha on January 31, 2022.  The Economic Survey 2022 projects India's GDP to grow at 8- 8.5% in the Fiscal Year 2022-23.  The GDP growth for the ongoing financial year 2021-22 has been estimated to be 9.2 percent.  The Economic Survey 2022 was presented by Principal Economic Adviser Sanjeev Sanyal and new Chief Economic Advisor (CEA) Dr V Anantha Nageswaran during a press briefing.  The new Chief Economic Advisor informed that this year's Economic Survey has been compiled by Principal Economic Adviser Sanjeev Sanyal and his team of advisors. www.indopraba.blogspot.com