India Union Budget 2022 - my 2 cents...

Many eminent personalities and ‘so called personalities’ have spoken a lot about the finance budget in their analysis. I thought to navigate within data and trying to gain insights too… so here are my take:

Sector	Amount	My views
For Salaried Class	Status Quo	No changes in taxable slabs. No Sops/tax saving instruments offered! If you are state government employee, you’ll get a chance to get additional 4% deduction in NPS that shall be non-taxable. (Wish government pass it on to Private Sector also and increase 10% to 15%)
	·       With an unemployment rate of 6.67% (8% of urban unemployment); government and policy makers has a lot to catch up. ·       India GDP in 2021 was ~9% ; expected in 2022 ~9.5% ·       Inflation in 2021 ~ 11% ; expected in 2022 ~ 7-8% So salaried class, if you have your salary hike <20%, you are in a NET LOSS!
Crypto Currency	Various tax levied	Congratulations. You got acceptance in Indian soil too. Big boost for Block Chain enabled firms. Hackers: Start de-coding the block-chain security. You have huge scope out there.
BSNL	INR 45,000 Crores	Are you kidding me! The industry that is already on ventilator is given additional sum to siphon off! When world is already on 5G and trying for 6G, payment is given for 4G network, restructuring and Tech upgrade in hope that government may roll out 5G through this. Money is put in drain. Ambanis, Adanis, Tatas, Mittals please give its valuation over 50,000 Crores when it goes under NCLT. Have pity on Indian public and taxpayer’s money please.
PM Aawas Yojna	INR 48,000 crores	Support to construction Industry
Tap water Yojna	INR 60,000 crores	Support to Construction and Steel Industry
MSME support	INR 6,000 crores	Is it a JOKE? The MSME industry is taking max. Load of employment and government has peanuts for them.
Steel Industry	Scraps import Custom duty revoke	Good initiative to support small players. They can buy scraps from anywhere and melt it to create products and sell in the market. Revoke of customs duty on Flat Steel, Stainless Steel and High Steel Bars is a good initiative to control monopolistic market in India where select few are controlling prices. A boon for steel consumers industry.
States of “United States of India”	INR 7.5 Lac Crores (35.4% increase)	States are encouraged to improve infrastructure, basic amenities like Roads, Parks, Greenery etc. States fiscal deficit can go upto 4% of GSDP States can take 50 yrs of Interest Free Loan States can receive Financial Assistance on their capital Investments.
Co-op housing societies	MAT - 15% Surcharge – 7%	Some relief to big societies in Metros. They can have some savings which they can pass on to residents/owners.
MSP Support	INR 2.37 Lac Crores	MSP fixed for Paddy and Wheat – Farmers rejoice. Your products are safe for 1 year at least.
Ken-Betwa River	INR 44,605 Crores	River Linking Projects finally taking shape. Hope the money reaches ground zero and not siphon-off by various stakeholders!
Post Office Banks	Core Banking	1.5 Lacs post-offices shall be connected shall give a major boost to rural economy, if it happens.
Defense	INR 5.25 Lac Crores	68% of Capital is for local Industry to support Make-in-India campaign for Defense sector.
Railways	INR 1.4 Lac Crores	Indirect support to Steel and Construction Industries with many developmental initiatives planned.
Highways	INR 20,000 Crores	Expect more corridors and road widening from Gadkari ji!
Sports	INR 3,062 Crores	Good initiative. At least government showed concern towards this. Expect more medals in 2023
Green House Gas minimization	INR 19,500 Crores	Fund allocated for PLI in manufacturing high efficiency solar modules I think government is confused or clueless about how to minimize greenhouse gases.

 In general, I’ll say an average (7/10) budget. The focus for next 10 yrs should be greenhouse gas reduction, protection of environment and ecology and minimize unemployment rate. If salaried class is your backbone for collection of direct and indirect taxes – you should have sops for them.