SurgeFin Capital

📌 *Key Highlights : Budget 2022*

📍 *GDP growth* for FY 22 expected to be *9.2%,* the *highest* for any large economy.

📍 *PLI* (Production Linked Incentive scheme) in *14 sectors* for Aatmanirbhar Bharat to create *6 million jobs* , additional allocation of *Rs 19,500 crore* for PLI in solar PV module manufacturing.

📍Promoting *Fintech and digital economy* a focus area for this Budget.

📍 *75 digital banking systems* in *75 districts* by scheduled commercial banks.

📍 *IBC* to be amended to improve efficiency of resolution process including cross border.

📍 *Core Banking Services* to start in *Post offices*

📍 PM *Gati-shakti* masterplan Has scope to enhance *Multimodal communication* through 7 engines, 2000 km of rail network to be brought under *KAVACH* & Highway network to grow by *25,000 km* in FY23.

📍Contracts for implementation of *multimodal logistics* parks at 4 locations to be awarded in 2022-23, in *PPP Mode*

📍 *ECLGS* (Emergency Credit Line Guarantee Scheme) to be extended upto March 2023, guaranteed cover extended by another *Rs 50,000 crore*

📍 *8 million* new dwelling in rural, urban areas to be completed under *PM Awas yojana*

📍 *Rs 2.37 trillion* worth of *MSP direct payments* to wheat and paddy farmers.

📍 *Rs 2 trillion* outlay for MSMEs, Additional loans for *13 mn MSMEs.*

📍 *Rs 48,000 crore* allocated to housing projects under *PM Housing Scheme* for FY23, *Rs 1,500 crore* allocated for development of the Northeast in FY23 & Desh stack *e-portal* to be launched to promote *Digital infra*

📍 *New provision* to file updated return within *2 years* of relevant assessment year.

📍 *Alternate minimum tax* for cooperative societies down from 18.5% to *15%*

📍 *Tax deduction limit* for *state govt employees* to *NPS* raised from 10% to *14%*

📍 *Surcharge* on Corporate tax *pruned* from 12% to *7%* Surcharge on *transfer of long-term capital gains tax* capped at *15%*

📍 *Tax exemption* to start-ups extended to March 2023.

📍 *Gross GST collection* for January 2022 at a *record Rs 1.41 trillion*

📍 *No change* in income tax slab.

📍 *Electric Vehicles* battery-swapping policy to be brought out with interoperability standards.

📍Concessional duty *on import of capital goods* to be phased out.

📍 Duty on *unpolished diamonds* to be *reduced to 5%*

📍Customs duty on *steel scrap extended by a year*

📍RBI led *digital rupee using blockchain* to be launched in FY23, *1% TDS* on *transfer of virtual digital assets* & income to be taxed at *30%*

📍 *68% of capital outlay* for Domestic defence industry.

📍Revised Fiscal Deficit *6.9% of GDP* in FY22 as against 6.8% in Budget estimates, Fiscal deficit at *6.4% in FY23*

📍 *Total expenditure* in FY23 estimated at *Rs 39.45 trillion* ; *total resources mobilisation* to be *Rs 22.84 trillion* other than borrowing.

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Happy Diwali!! blessed you with good health, happiness, peace, prosperity and success
Diwali Festival of Lights, has the tradition, of illuminating the gloomiest corners of our lives, we earnestly wish and pray that post this Diwali each of us walk away from the dark pandemic and embrace again the high spirits in our life and work

We bow our heads with gratitude that we are blessed to be able to celebrate this pious festival with our families and hope the new year ahead brings along a fresh opportunities to thrive and grow into a safe and healthy environment and celebrate the festivities like the good old times

Stay healthy and Joy full
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With warm regards;
Ankush,
Partner
Surgefin Capital
309, Raja House,
Nehru Place
New Delhi-19

Team Surgefin Congratulate Team India for this fabulous Achievement

AirIndia again goes Tata way....🛩

Huge opportunity for startup’s 🥇💸


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MeitY prepares 1,000-day plan for $1-trillion digital economy - ET Government Key to the initiative will be making India the largest connected nation in the world, bringing coherence into digital governance, simplifying rules an..

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