Budget 2022 was presented by Finance Minister Nirmala Sitharaman.
The Union Budget 2022 is the annual report of India. It contains the government of India’s revenue and expenditure for the end of a particular fiscal year, which runs from April 1 to March 31.
Budget 2022 highlights:
1) The government will expand the PM e-Vidya programme of ‘One Class, One TV programme’.
It will be expanded from 12 to 200 television channels. And this will enable all states to provide supplementary education in regional languages for classes 1 to 12.
2) 4 govt priorities for ‘Amrit Kaal’ taken up. PM Gati Shakti will be one of the top priorities for the government.
PM Gato Shakti, Sitharaman mentioned the other three priorities will be “inclusive development; productivity enhancement and investment, sunrise opportunities, energy transition, and climate action; and financing of investments.”
3) “This Budget will benefit youth, women, farmers, and the Scheduled Caste and Scheduled Tribes. It will be guided by PM Gati Shakti master plan,” said Sitharaman.
4) 400 new generation ‘Vande Bharat’ trains has been announced with better efficiency and facilities for passengers in the next three years.
“2,000 km of rail network to be brought under the indigenous world-class technology KAWACH, for safety and capacity augmentation,” as mentioned.
5) 100 % of 1.5 lakh post offices to come under the core financial system in 2022.
This will enable financials including and access to accounts through net banking, ATMs, mobile banking and online transfer of funds.
The Finance Minister said, “This will benefit senior citizens and those in rural areas.”
6) For farmers, chemical-free natural farming will be encouraged throughout the country.
As per information, in the first phase, the focus will be on farmers’ land in 5-km wide corridors along the river Ganga.
Finance minister Nirmala Sitharaman, said that the use of Kisan Drones will be promoted for crop assessment, digitization of land records, spraying of insecticides and nutrients.
7) The PM Gati Shakti Master Plan for Expressways will be formulated in 2022-23. This will facilitate faster movement of people and goods.
As per information, the national highway network will be expanded by 25,000 km in 2022-23 and ₹20,000 crore to be mobilised to complement the public resources.
8) For the Northeastern region, PM development initiatives will be implemented for the North Eastern Council.
And this will enable livelihood activities for youth and women. Sitharaman classified this scheme is not a substitute for the existing Centre or state schemes.
9) To provide better access to quality mental health counseling and care services, a National Tele Mental Health program has been launched.
10) The issuance of E-passports to be rolled out in 2022-23 to enhance convenience for citizens.
11) Finance Minister Nirmala Sitharaman said, “To promote a shift to the use of public transport in urban areas, special mobility zones with zero fossil fuel policy to be introduced.”
“Considering space constraints in urban areas, a ‘Battery Swapping Policy’ will be brought in,” she added.
12) Since Animation, Visual Effects, Gaming and Comics sector offers immense potential to employ youth.
An AVGC promotion task force with all stakeholders to be set up. This will be building domestic capacity for serving our markets and the global demand.
13) Digital rupee has been issued using blockchain and other technologies by RBI in 2022-23.
“This will give a big boost to the economy,” said Sitharaman.
14) Both Centre and state government employees’ tax deduction limit has been increased from 10% to 14%.
This will bring the social security benefits of state government employees at par with the central government employees.
15) 5G spectrum auction to be conducted in 2022 for rollout of 5G telecom services by private players in FY 2022-23.
16) Taxpayers can now file an updated return within 2 years from the relevant assessment year.
17) Capital expenditure outlay being stepped up sharply by 35.4% from Rs 5.54 lakh crore in CY to Rs 7.50 lakh crore in 2022-23.
Further, as mentioned Outlay in 2022-23 will be 2.9% of the GDP.
18) Draft DPRs for 5 river links Damanganga-Pinjal, Par- Tapi-Narmada, Godavari-Krishna, Krishna-Pennar & Pennar-Kaveri have been finalized.
Finance Minister also, announced the gross goods and services tax collections for the month of January 2022 are ₹1,40,986 crores. And this is the highest since the inception of GST.
The Union Cabinet approved the Budget 2022-23 presented by Finance Minister Nirmala Sitharaman in Parliament.
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