Budget 2022: The first part of the budget session will run from February 1 to February 11, after a break of 1 month, the session will resume on March 13.

Budget 2022: The budget session begins on Monday with President Ram Nath Kovind addressing both the Houses of Parliament. The budget session will continue till April 8. Between which there will be a break of one month. The timings of both the houses will be different during the budget session – Rajya Sabha will sit from 10 am to 3 pm and Lok Sabha will sit from 4 pm to 9 pm.

The working class also has many expectations from this budget. This time there is a demand to increase the tax exemption limit, which has not increased for the last 8 years. There is also a demand to increase the deduction available under section 80C (80C Deduction Limit).

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According to Article 112 of the Indian Constitution, the financial statement of the central government in a particular year is called the federal budget. According to the constitution, the government has to present the budget in Parliament at the beginning of every financial year. The financial year period is from 1st April of the current year to 31st March of the next year. The financial statement presented by the government shows the estimated receipts (revenue and other receipts) and expenditure of the central government in a particular financial year.

What is expected from budget 2022-

• Basic limit of tax exemption increased
• Increase in the standard deduction.
• Increase in tax exemption on medical expenses.
• FD for three years can be tax-free.