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The general budget will be presented on February 1, 2022, the government can make many big announcements

The current Union Finance Minister is Nirmala Sitharaman, a BJP member of the Rajya Sabha and an economist.

New Delhi, The Union Budget 2022 will be presented in the Parliament on 1 February 2022 at 11 am. The budget is presented on the first day of the parliamentary session. Budget affects every single Indian person. The Union Budget is presented by Finance Minister Nirmala Sitharaman. Finance Minister Nirmala Sitharaman will present her fourth budget on February 1 this year. The current Union Finance Minister is Nirmala Sitharaman, a BJP member of the Rajya Sabha and an economist.

In the year 2022, it is expected that there will be a change in the income tax rates in the Union Budget. Last year, several stimulus packages were announced to revive the economy affected by the corona virus. The government can do some big plans to strengthen the economy through “Make in India” and PLI schemes.

The presentation of the Union Budget by the Finance Minister lasts for an average of 90 minutes to 120 minutes, although there are certainly outliers. While the shortest budget speech was given by Hirubhai M Patel in 1977, when he announced the interim budget, Sitharaman held the distinction of delivering the longest Union Budget speech.

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According to reports, Nirmala Sitharaman can make important announcements in the Union Budget to accelerate economic reforms, promote entrepreneurship and provide relief to taxpayers in the current situation. The Union Budget 2022 may announce a plan to cut India’s carbon emissions by 1 billion tonnes.

The plan may also aim to reduce the carbon intensity of the Indian economy by 45 percent by 2030. Prime Minister Narendra Modi said at the COP-26 climate meeting in Glasgow, Scotland, India expects developed countries to provide climate finance of $1 trillion at the earliest.

Amit Gupta, MD, SAG Infotech says, in the Union Budget 2022, the government can decide the extent to which taxpayers will get tax exemption. Along with this, announcements can also be made in this budget regarding further strengthening of education and infrastructure of the country.

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