Finance Minister Nirmala Sitharaman presented the union budget 2022 for the upcoming fiscal year on Tuesday, 1st February. The new union budget, worth INR 39.45 lakh crore, outlines government expenditure for the year and is expected to spend 4.6% more than last year. The budget focuses on infrastructure spending, including the expansion of national highways and the generation of several hundred new trains. The idea is to help with job creation and boost economic activity. While there was a lot of news on income tax brackets in the run-up to the budget announcement, the finance minister has not proposed any changes to the tax slabs or basic tax deductions for individuals. During the union budget announcement, the finance minister projected the country’s economy to grow by 9.2%, the fastest of all growing economies.