Budget 2022 Live Updates: Farmers Expected To Get More Than Rs 1.5 Lakh Crore As MSP For Paddy This Season, Says PM Modi

02/02/2022, 14:52 Union Budget 2022 Reactions Live Updates, Budget 2022-23 Highlights Reactions Latest News, Budget
Budget 2022 F…
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Home / Business / Budget 2022 Live Updates: Farmers expected to get more than Rs 1.5 lakh crore as MSP for paddy this
season, says PM Modi
Also read in: हिंदी मराठी தமிழ் বাংলা മലയാളം
Budget 2022 Live Updates:

Farmers expected to get more
than Rs 1.5 lakh crore as MSP
for paddy this season, says PM
Modi
Budget 2022 India Live, FM Nirmala Sitharaman Speech Live Updates:
Speaking at a press conference after presenting the Union Budget, Finance
https://indianexpress.com/article/business/union-budget-2022-live-updates-nirmala-sitharaman-modi-govt-7748785/ 1/15
02/02/2022, 14:52 Union Budget 2022 Reactions Live Updates, Budget 2022-23 Highlights Reactions Latest News, Budget 2022 F…
Minister Nirmala Sitharaman said a conscious decision was taken not to

increase taxes because of the hardship that people have been facing due to
the pandemic.
By: Express Web Desk | New Delhi |

Updated: February 2, 2022 2:45:15 pm
Sitharaman, while presenting the Union Budget, said that the country is expected to grow at 9.27 per cent in the coming
year. (Express Photo by Tashi Tobgyal)
Budget 2022 Live Updates: Hailing the 2022 Union Budget as “people-friendly” and
“progressive”, Prime Minister Narendra Modi Tuesday said the Budget brings with it new energy
and strength to India’s development trajectory, especially at a time when the country is fighting
the pandemic. “This Budget brings more infrastructure, more investment, more growth and
more jobs,” he said. The Prime Minister said that the youth of India see this Budget as one that
will give wings to their ambitions, and added that the emphasis on futuristic technologies in all
spheres is noteworthy and will benefit a cross section of our citizens. PM Modi, however, said
that he will be speaking about the Budget in detail tomorrow. The PM also said that farmers are
expected to get more than Rs 1.5 lakh crore as MSP for paddy this season.
Speaking at a press conference after presenting the Union Budget, Finance Minister Nirmala
Sitharaman said a conscious decision was taken not to increase taxes because of the hardship
that people have been facing due to the pandemic. Sitharaman, while presenting the Union
Budget, said that the country is expected to grow at 9.27 per cent in the coming year. With a
focus on four pillars of development — inclusive development, productivity enhancement,
energy transition and climate action — the Budget gives a blueprint of economy from India at 75
to India at 100, Sitharaman said.
BUDGET 2022: What The Recommendations Mean T…

T…
The Budget estimates the effective capital expenditure of the Central government at Rs 10.68
lakh crore in 2022-23, making up about 4.1 per cent of the GDP. The gross GST collections for the
month of January 2022 are Rs 1,40,986 crore — the highest since the inception of the tax in 2017
— the Finance Minister said. In a major push for digital currency, Sitharaman stated that digital
rupee will be issued using blockchain technology by the RBI starting 2022-23. This will give a big
boost to the economy, the Finance Minister said. She added that income from the transfer of any
virtual digital asset shall be taxed at the rate of 30 per cent.
Budget 2022 | Follow latest updates on the stock markets
LIVE BLOG
Budget 2022 Live Updates: Taxpayers can now update I-T returns within 2 years; India
likely to grow at 9.27%; Gati Shakti masterplan to make world-class infra; PLI scheme to
create at least 60 lakh new jobs in 5 years
14:01 (IST) Budget 2022: Punekars spilt over measures announced

02 FEB 2022
A day after Union Finance Minister Nirmala Sitharaman presented the Budget for the
year 2022-23, most citizens in Pune were divided over the measures announced in the

Government’s annual financial document. While some felt let down by the lack of tax
breaks, some felt the Budget will allow the creation of employment in the country.
Amit Waghmare a young businessman from Moshi Pradhikarn, said the Budget is “old
wine in a new bottle”. “Take out all the previous Budgets presented by the BJP
Government. They have big promises and zero results. The same has been done this time
too. Being middle-class taxpayers, we feel excluded. There is nothing for us,” Waghmare
said. Read more
13:39 (IST) Budget 2022-23: Health sector ‘disappointed’, says government did not
02 FEB 2022 think about healthcare sector
Several health sector professionals expressed disappointment after the Union Budget

was presented in Parliament Tuesday and said the government failed to deliver in the
healthcare sector despite Covid-19.
In a press note issued by the Association of Indian Medical Device Industry (AiMeD),
forum coordinator Rajiv Nath expressed “deep disappointment and anguish over the
Union Budget 2022 giving cold shoulder again to the Indian Medical Device Industry and
nothing laudable for the healthcare”. Read more
13:05 (IST) Budget to benefit border villages in Uttarakhand: PM Modi

02 FEB 2022
Speaking to party workers on the Union Budget 2022, PM Modi said, 'Migration from
border villages not good for national security. The budget has provisions to develop

'vibrant villages' along the border.'
'Vibrant village programme will benefit border villages in Uttarakhand, Arunachal

Pradesh and Ladakh,' he said. 'Government plans to impart National Cadet Corps
training to youth in border villages. It will help them join armed forces,' he added.
12:18 (IST) Farmers expected to get more than 1.5 lakh crore as MSP for paddy this
02 FEB 2022 season: PM Modi

Press Trust of India
@PTI_News
Many things were said about MSP, but farmers are

expected to get more than Rs 1.5 lakh crore as MSP for
paddy this season:PM
12:15 PM · Feb 2, 2022
102 Reply Copy link
Read 4 replies
11:57 (IST) Budget 2022 focused on development of villages at the border: PM Modi
02 FEB 2022
ANI @ANI · Feb 2, 2022

The budget also focused on modernizing Indian agriculture with a
focus on organic farming. This will make farming more lucrative.
Kisan drones and other machinery will be made available to the
farmers at reasonable prices: PM Modi on #Budget2022
ANI
@ANI
The budget also focused on the development of villages

at the border. NCC Centres will be brought in at schools
situated at the border: PM Modi
11:45 AM · Feb 2, 2022
64 Reply Copy link
Read 2 replies
11:51 (IST) India's GDP increased due to govt's effective policies: PM Modi to party
02 FEB 2022 workers

ANI
@ANI
The budget was has been appreciated. Prior to 7 years,

India's GDP was Rs 1 lakh 10,000 crores but today it's
about Rs 2 lakh 30,000 crores. Even country's forex
reserves have increased to $630 billion from $200 billion.
All of this due to our govt's effective policies: PM Modi
11:26 AM · Feb 2, 2022
279 Reply Copy link
Read 18 replies
11:45 (IST) Budget 2022 focused on modernising Indian agriculture: PM Modi to his
02 FEB 2022 party workers
The budget also focused on modernizing Indian agriculture with a focus on organic

farming. This will make farming more lucrative. Kisan drones and other machinery will
be made available to the farmers at reasonable prices, PM Modi said while addressing
party workers.
11:32 (IST) Possibility of new world order post Covid: PM Modi to party workers on
02 FEB 2022 the budget
Prime Minister Narendra Modi on Wednesday said, “There is a possibility of a new world

order post-Covid pandemic. Today, the world’s perspective of looking at India has
changed a lot. Now, the world wants to see a stronger India,” while addressing party
workers on the Union Budget 2022.
10:40 (IST) ‘Golmaal’ budget with no direction or intent: Telangana CM

02 FEB 2022 Chandrasekhar Rao slams Centre
Telangana Chief Minister K Chandrasekhar Rao has said that the Union budget is a
“useless” one with no direction or intent. “The Union budget can be called a
‘golmaal budget’,” he said in a statement.

He said that the budget has disappointed SC, ST, BC, minorities, farming community, the
poor, hereditary professions, and employees. Stating that the country needed someone
to take it in a new direction of development and accountability, Chandrasekhar Rao said
that he would forge an alliance that will be an alternative to the National Democratic
Alliance (NDA) and the United Progressive Alliance (UPA). The CM said that he would
meet Maharashtra Chief Minister and Shiv Sena leader Uddhav Thackeray in a few days
in this regard. Read more
10:32 (IST) MHA budget hiked by 11 per cent, lion’s share of allocation for police
02 FEB 2022
The Ministry of Home Affairs (MHA) has been allocated in excess of Rs 1.85 lakh crore in
the Union Budget 2022-23 which is over 11% higher than the allocation of Rs 1.66 lakh

crore in the last budget for the current fiscal. In 2019-20, the Budget had allocated Rs
1.67 lakh crore to the MHA.
However, capital expenditure in the 2022-23 Budget for MHA has increased by only 5%
from Rs 15,924 crore in the last Budget to Rs 16,753 crore this Budget.
The lion’s share of the Budget allocation for MHA has gone to police which has been
earmarked in excess of Rs 1.17 lakh crore for the coming fiscal. The allocation for Delhi
Police has increased from Rs 8,338 crore to Rs 10,096 crore between the last and this
Budget. Read more
10:28 (IST)
02 FEB 2022
Listen in: What you should know about the Union Budget 2022
From a major push for capital expenditure and announcements related to virtual assets
and digital currencies, to not acknowledging the distress in the economy and moving
away from disinvestment, in this episode, Indian Express’s Udit Misra joins host
Shashank Bhargava to discuss everything you need to know about the Union Budget
2022. Podcast
10:20 (IST) Budget: Govt focus on digitation of land records

02 FEB 2022
The linkage of National Generic Document Registration System (NGDRS) with the ‘One-
Nation One-Registration Software’ will be promoted as an option for uniform

registration process and “anywhere registration of deeds & documents”, Finance
Minister Nirmala Sitharaman announced on Tuesday.
“Efficient use of land resources is a strong imperative,” Sitharaman said, adding that,
“States will be encouraged to adopt Unique Land Parcel Identification Number to
facilitate IT-based management of records. The facility for transliteration of land records
across any of the Schedule VIII languages will also be rolled out.” Read more
09:42 (IST) Through public spend, there will be crowding in of pvt investments: FM
02 FEB 2022
How would you characterise the Budget?

That time when I made that statement (“once-in-a-hundred-year Budget”) that this
Budget is being prepared at a time that once in a 100 years pandemic has hit us and we
are preparing this Budget. But it so turned out that everyone started saying that it is a
“once-in-a-hundred-year Budget”. No no, (this) Budget was being prepared in a once-in-
a-100-year situation. But never mind, that stuck with me in a way. Read more
09:17 (IST) Budget 2022: Rs 200 cr for development assistance to Afghanistan, Rs 100
02 FEB 2022 cr for Chabahar port
In a signal of its commitment to Afghan people, India on Tuesday set aside in its budget

for 2022-23, an amount of Rs 200 crore as development assistance to Afghanistan
besides allocating Rs 100 crore for the Chabahar port project.
Finance Minister Nirmala Sitharaman allocated a total of Rs 17,250 crore to the Ministry

of External Affairs in the Union Budget for the next fiscal, out of which Rs 6,292 crore is
for development assistance to countries in India’s neighbourhood as well as in Africa
and Latin America.
It is learnt that the allocation of Rs 200 crore to Afghanistan is a signal of India’s

commitment to the Afghan people and the money may be spent on paying for old
projects, scholarships and providing aid to the Afghan people. Read more
09:05 (IST) Out of the shadow: 30% tax on crypto, RBI to issue its digital currency
02 FEB 2022
Union Finance Minister Nirmala Sitharaman Tuesday proposed to tax “any income from
transfer of any virtual digital asset” at a rate of 30 per cent and impose a 1 per cent tax

deduction at source (TDS) of transactions above a monetary threshold.
While the upside is limited from a revenue mobilisation perspective, the step is
important as it is the first formal recognition by the Government of increasingly popular
financial instruments, such as cryptocurrencies, and applications, such as non-fungible
tokens. Read more
08:53 (IST) Budget: Combating loss in education a priority, but digital learning
02 FEB 2022 outlay sees a dip
In a Budget expected to look into reversing Covid-induced learning losses and

implementing key proposals of the New Education Policy announced nearly two years
ago, overall financial allocation for 2022-23 has not increased much.
While it went up from Rs 93,224 crore (budget estimate) in 2021-22 to Rs 1.04 lakh crore,
as announced by Finance Minister Nirmala Sitharaman on Tuesday, the increase does
not appear as substantial when seen against Rs 99,311 crore earmarked in 2020-21.
In her Budget speech, Sitharaman emphasised on strengthening digital modes of

learning to aid supplementary teaching and proposed to establish a digital university.
But allocation under the Digital India e-learning component was reduced to Rs 421 crore
— from Rs 645 crore in 2021-22. Read more
08:44 (IST) Five questions: The Budget big picture

02 FEB 2022
As Finance Minister Nirmala Sitharaman rose to present the Union Budget for 2022-23
on Tuesday, she was faced with several competing demands. On the one hand, the

government’s fiscal deficit (or total borrowings from the market) was a concern. On the
other, there were demands for continued support to the weaker sections of the economy.
If she spent more to provide direct financial support to various sections of society, the
fiscal deficit, which was already more than twice the prudential norms, would worsen. If
she tried to sharply curtail expenditure, it might hurt vast sections of the economy that
are already struggling in the wake of Covid-induced disruptions. Read more
08:40 (IST) When PM Modi walked over to the Opposition benches during Budget
02 FEB 2022 2022 session
The opposition leaders were taken by surprise Tuesday when Prime Minister Narendra

Modi walked across the aisle to greet them, enquired about the health of some senior
leaders, patted some others and even gave advice to one MP on the importance of being
digital-friendly.
When the Lok Sabha was adjourned after the presentation of the Union Budget, Modi,
who was thumping at the desk frequently at Finance Minister Nirmala Sitharaman’s
Budget speech, walked up to Sitharaman, who was seated at the second row due to social
distancing restrictions, to congratulate her. Read more
08:38 (IST) LIC IPO key: Divestment numbers missed, Budget dials down target
02 FEB 2022
The government’s ambitious disinvestment agenda, flagged in the Budget announcement
last year, has been scaled down.

While Finance Minister Nirmala Sitharaman had set a target of Rs 1.75 lakh crore

through disinvestment in the Budget estimates in 2021-22, the target has now been
revised to Rs 78,000 crore. And for the year 2022-23, she has set a softer target of Rs
65,000 crore.
Incidentally, Sitharaman did not use the word ‘privatisation’ in her speech this year, the
hallmark of her Budget presentation last year — the Opposition has been targeting the
government for selling what it says are established companies and businesses to the
private sector. Read more
06:22 (IST) Combating loss in education a priority, but digital learning outlay sees a
02 FEB 2022 dip
In a Budget expected to look into reversing Covid-induced learning losses and

implementing key proposals of the New Education Policy announced nearly two years
ago, overall financial allocation for 2022-23 has not increased much.

While it went up from Rs 93,224 crore (budget estimate) in 2021-22 to Rs 1.04 lakh crore,
as announced by Finance Minister Nirmala Sitharaman on Tuesday, the increase does
not appear as substantial when seen against Rs 99,311 crore earmarked in 2020-21.
In her Budget speech, Sitharaman emphasised on strengthening digital modes of

learning to aid supplementary teaching and proposed to establish a digital university.
But allocation under the Digital India e-learning component was reduced to Rs 421 crore
— from Rs 645 crore in 2021-22.
The revised estimate for 2021-22 was Rs 367 crore. Read More
LOAD MORE
Nirmala Sitharaman made a statement with her sartorial pick for Budget 2021. (Express photo by Praveen Khanna)
The Budget comes at a time when India’s employment rate has plummeted. Historic
unemployment and faltering growth not only exacerbated inequalities of income and wealth but
also led to anincrease in the absolute number of poor peoplein India — an unprecedented and
embarrassing reversal in poverty alleviation. In the years leading up to Covid-led technical
recession, there was much disagreement about the government’s approach.
The Economic Survey, tabled just a day before Sitharaman will announce the Union Budget 2022-
23, emphasised the need for the government to provide a buffer against stresses such as the
uncertainty in the global environment, the cycle of liquidity withdrawal by major central banks,
etc.
The Survey has pegged that in the government’s efforts to build a post-Covid economy, demand
measures alone will not provide the solution. This is based mainly on the fact that a wide variety
of factors such as consumer behaviour, technological developments, geo-politics, supply-chains,
climate change could interact in unpredictable ways, and India will need to develop a supply-
side strategy to deal with the long-term unpredictability of the post-Covid world.
Last year, the government decided to set up an asset reconstruction company that will take over
the bad loans of banks, giving them the flexibility to finance the economic recovery. Just days
ahead of the Union Budget 2022-23, this proposal to set up a ‘bad bank’ was cleared. State Bank
of India Chairman Dinesh Khara said the proposed ‘bad bank’ has “now” received all necessary
permissions including from the Reserve Bank of India. It is ready to commence operations with
15 cases worth Rs 50,335 crore to be transferred by March 31, he said.
Must-Reads on Budget 2022-23:
Economic Survey: Key challenges and concerns for Indian economy
Economic Survey in 5 points: Nurturing a post-Covid recovery and the risk factors
Explained: Bad bank is ready, how will it resolve stressed assets?
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02/02/2022, 14:52 Union Budget 2022 Reactions Live Updates, Budget 2022-23 Highlights Reactions Latest News, Budget

ENGLISH தமிழ் বাংলা മലയാളം हिंदी मराठी

Also read in: हिंदी मराठी தமிழ் বাংলা മലയാളം

Budget 2022 Live Updates:

Minister Nirmala Sitharaman said a conscious decision was taken not to

By: Express Web Desk | New Delhi |

BUDGET 2022: What The Recommendations Mean T…

Budget 2022 | Follow latest updates on the stock markets

14:01 (IST) Budget 2022: Punekars spilt over measures announced

13:05 (IST) Budget to benefit border villages in Uttarakhand: PM Modi

'Vibrant village programme will benefit border villages in Uttarakhand, Arunachal

Many things were said about MSP, but farmers are

102 Reply Copy link

ANI @ANI · Feb 2, 2022

The budget also focused on the development of villages

11:45 AM · Feb 2, 2022

64 Reply Copy link

The budget was has been appreciated. Prior to 7 years,

11:26 AM · Feb 2, 2022

279 Reply Copy link

Prime Minister Narendra Modi on Wednesday said, “There is a possibility of a new world

10:40 (IST) ‘Golmaal’ budget with no direction or intent: Telangana CM

10:20 (IST) Budget: Govt focus on digitation of land records

Finance Minister Nirmala Sitharaman allocated a total of Rs 17,250 crore to the Ministry

It is learnt that the allocation of Rs 200 crore to Afghanistan is a signal of India’s

In a Budget expected to look into reversing Covid-induced learning losses and

In her Budget speech, Sitharaman emphasised on strengthening digital modes of

08:44 (IST) Five questions: The Budget big picture

The opposition leaders were taken by surprise Tuesday when Prime Minister Narendra

While Finance Minister Nirmala Sitharaman had set a target of Rs 1.75 lakh crore

In a Budget expected to look into reversing Covid-induced learning losses and

In her Budget speech, Sitharaman emphasised on strengthening digital modes of

Must-Reads on Budget 2022-23:

Economic Survey: Key challenges and concerns for Indian economy

Explained: Bad bank is ready, how will it resolve stressed assets?

© IE Online Media Services Pvt Ltd

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