India commences 2022 Union Budget session
India’s budget session will commence today with the President of India addressing both parliament houses—Lok Sabha and Rajya Sabha.
The budget session is divided into two parts, with the first half running from January 31st to February 11th and the second half running from March 14th to April 8th. The government will present the Union Budget 2022-23 on February 1st in paperless form, in line with Narendra Modi’s push towards Digital India.
During the budget session, Congress Party will be raising attention to issues such as Covid-19 relief, farmers’ concerns, Air India divestment, inflation, and the border dispute with China.
Expect the 2022 Union Budget to focus on balancing economic growth with inflation rates, infrastructure spending and expanding India’s healthcare facilities. Finance minister Sitharaman is also likely to prioritize infrastructure spending as in 2021 and increase capital expenditure overall to encourage private investment and consumption. While there is demand for income tax relief, do not expect major changes to the tax structure given that nominal GDP is expected to slow down.
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