Union Budget 2022: Time, date and other details you need to know

Union Budget 2022: Time, date and other details you need to know
Union Budget 2022-23BCCL
  • Finance Minister of India Nirmala Sitharaman will present the Union Budget on February 1, 2022.
  • This will be the 10th budget that the BJP government led by Narendra Modi presents.
  • Huge expectations are pinned to the upcoming budget as it comes at a time when the country is fast recovering from the slowdown across multiple sectors due to COVID-19.
The Union Finance and Corporate Affairs Minister Nirmala Sitaraman is expected to present the budget on February 1. This budget will be the fourth one presented by the Narendra Modi led BJP government during its second tenure. The Budget session will start at the Parliament around 11 am on February 1, 2022.

Year on year, the Union Government generally hosts the customary Halwa Ceremony to mark the final stage of the Union Budget making process. However, in compliance with the pandemic necessitated safety protocols, this year sweets were distributed to the core staff at their own workplaces.

What is special about the 2022 budget?

Setting a new trend, the Union Budget of 2021-22 was presented in paperless form for the first time in the history of the country. Budget 2022-23 will also follow the same trend in furthering environmental friendly initiatives. Also, the government had launched a ‘Union Budget Mobile App’, which facilitated hassle-free access of the budget documents for the members of parliament (MPs) and the general public in the country. Once the Budget session is complete on February 1, 2022 in the parliament, Union Budget 2022-23 will also be available on the Mobile App.

The mobile app will provide full access to around 14 Union Budget-related documents, including the budget speech, annual financial statement (budget), finance bills prescribed by the constitution, and demand for grants (DG). This mobile app will be made available in Hindi and English. It will be made available on Android and iOS platforms.

‘The Union Budget Mobile App’, will be available for download on the Union Budget website (www.indiabudget.gov.in). General public can also download the budget documents on this website.

Latest media reports about Budget 2022

There will not be any zero hour scheduled in the parliament on January 31 and February 1. Arrangements have been made for the Rajya Sabha leaders to meet virtually on January 31. The parliament is all set to comply with all the COVID-19 protocols strictly during the budget session.

Expert remarks on Budget 2022-23

Abheek Barua, chief economist of HDFC Bank said, “Unlike last year when the US Federal Reserve was unleashing a deluge of liquidity in the international banking system, in 2022 the Indian government is drawing up its annual budget at a time when global financial conditions are not quite so conducive. With the Fed signaling an aggressive rate hike path, the degree of monetary support that the Reserve Bank of India has the room to extend is now constrained and the government may therefore have to rely more on fiscal ammunition to ensure that the country’s growth recovery remains on track.”

Experts say the rupee is likely to weaken against the US dollar this year
EXPLAINED: India’s annual Economic Survey
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