Budget 2022 date & time: What to expect from Union Budget 2022 and more details

Union Finance Minister Nirmala Sitharaman is all set to present the crucial Union Budget 2022 on February 1. The Budget Session of the parliament will commence from January 31 with President Ram Nath Kovind's address. This year also COVID-19 protocols have been placed as several Parliament ministers have tested positive for the virus in recent times. 

Union Budget 2022 Date & Timing

Citizens can watch the Union Budget 2022 on Lok Sabha TV where it will be broadcasted live. Several other social media channels including YouTube, Twitter will also show the session. The FM will present the Budget in the Lok Sabha on February 1 at 11 a.m. The duration of the Budget presentation might range from 90 to 120 minutes.

What to expect from Union Budget 2022 and other details:

It has been expected by the Taxpayers that Budget 2022 will provide a reduction in tax rates and surcharges with more money in hand. Keeping the COVID-19 pandemic in view, it is also expected that the budget will focus on speeding up recovery and boosting the country's healthcare system. 

A growth of around 9% for the upcoming financial year is likely to be depicted by the Finance Minister. According to the advance estimates of the National Statistical Office (NSO), the economy is expected to record a growth of 9.2% during the current fiscal, which is a tad lower than the 9.5% projected by the Reserve Bank.

Importantly, the growth this fiscal year is expected to be double-digit. Meanwhile, salaried employees are also expecting Increase Standard Deduction Limit for higher disposable income. Considering the COVID-19 new strain Omicron situation it is also reported that a focus on Work From Home system will also be introduced.

On December 30, Union Finance Minister Nirmala Sitharaman had chaired a pre-budget consultation meeting with finance ministers of states and union territories (UTs) for the upcoming Union Budget 2022-23. The meeting, held at Delhi's Vigyan Bhawan was also attended by several chief ministers who hold finance portfolios in their respective states. Along with the FM Sitharaman, MoS Finance Dr Bhagwat Karad, Finance Secretary Dr TV Somanathan, DEA Secretary Shri Ajay Seth and DFS Secretary Debasish Panda were also present at the meeting, besides other senior officials of the Finance ministry.