A large portion of Sitharaman’s speech was dedicated to climate action and the energy transition — from supporting low-carbon sectors, to the announcing of green bonds.
When presenting a Budget like 2022, political management is a bit of a problem. Here, Nirmala Sitharaman needs more than good English and bad Economics.
Budget deficit target is doable, increased capex is a positive & it takes a realistic, if political, view of disinvestment. But protectionism, rising debts, slashed subsidies are problems.
In Budget 2022, FM Sitharaman labels cryptocurrencies as ‘digital assets’ and not currency, and taxes income gains from their transactions at a high 30%.
According to documents, the slash is to account for reduced Covid vaccination need, even as 2nd doses are awaited for most aged 15-18 years & vaccinations for children are yet to roll out.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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