Finance Minister, while presenting the Union Budget, said that the country is expected to grow at 9.27 percent in the coming year. With a focus on four pillars of development — inclusive development, productivity enhancement, energy transition, and climate action — the Budget gives a blueprint of the economy from India at 75 to India at 100, Sitharaman said.
A Made in India tablet has replaced the traditional ‘Bahi Khata’ for the second consecutive year. The Union Cabinet approved the Budget, following a meeting with Prime Minister, Finance Minister Nirmala Sitharaman, Union Home Minister Amit Shah, Defence Minister Rajnath Singh, among others.
Setting the tone for the Union Budget 2022-23, the Economic survey 2021-22 was tabled in the Parliament on Monday. It projected the economy to grow at 8.0-8.5 percent in 2022-23, thereby moderating the growth forecast from 9.2 percent expansion for 2021-22 outlined by the National Statistical Office (NSO) in its first advance estimates of Gross Domestic Product (GDP).
Animation, a gaming task force to be set up
Animation, visual effects, gaming, and the comics sector offer immense potential to employ youth. An AVGC promotion task force with all stakeholders will be set up to recommend ways to realize this and build domestic capacity for serving our markets and the global demand: Nirmala Sitharaman
Drones to be used for crop assessment, digitization of land records, spraying of insecticides:
Use of drones to be promoted for crop assessment, digitization of land records, spraying of insecticides and nutrients. Fund to be facilitated through NABARD to finance start-ups for agriculture and rural enterprise which are relevant for the farm produce value chain: FM Nirmala Sitharaman
We will start issuing e-passports soon,
Issuance of e-passports will be rolled out in 2022-23 to make it easier for citizens: Finance Minister Nirmala Sitharaman
400 new Vande Bharat trains to be manufactured in the next 3 years,
Over 2,000 km of the rail network to be brought under the indigenous world-class technology KAWACH, for safety and capacity augmentation. 400 new Vande Bharat trains with better energy efficiency and passenger riding experience to be manufactured in the next three years: FM Nirmala Sitharaman
Emergency Credit Line Guarantee Scheme to be extended to March 2023
Emergency Credit Line Guarantee Scheme will be extended up to March 2023 and the guaranteed cover will be expanded by Rs 50,000 crore to cover an amount of Rs 5 lakh crore:
An open platform for healthcare services to be rolled out soon
An open platform for the National Digital Health Ecosystem will be rolled out. It will consist of digital registries of health providers and health facilities, unique health identity, and universal access to health facilities The pandemic has accentuated mental health problems in people of all ages. To better the access to quality mental health counseling and care services, a National Tele Mental Health program will be launched: FM Nirmala Sitharaman
PM Modi’s development initiatives for North East to be implemented by NEC:
PM Modi’s development initiatives for the North East will be implemented by the North Eastern Council… This will enable livelihood activities for the youth and women. This scheme is not a substitute for the existing Centre or state schemes: FM Nirmala Sitharaman
Fund to be set up to finance agriculture, rural start-ups
A fund with blended capital raised under the co-investment model facilitated through NABARD to finance start-ups in agriculture and rural enterprises for farm produce value chain will be set up. States will be encouraged to revise syllabi of agricultural universities to meet needs of natural, zero-budget and organic farming, modern-day agriculture: Nirmala Sitharaman
Rs 2.37 lakh crores will be the direct payment of MSP to farmers
Procurement of wheat in Rabi season 2021-22 and the estimated procurement of paddy in Kharif season 2021-22 will cover 1,208 lakh metric tonnes of wheat and paddy from 163 lakh farmers & Rs 2.37 lakh crores will be the direct payment of MSP value to their accounts: FM Sitharaman
Production Linked Incentive Scheme to create 60 lakh new jobs in next 5 years,
Production Linked Incentive Scheme for achieving Aatmanirbhar Bharat has received an excellent response, with the potential to create 60 lakh new jobs and additional production of 30 lakh crore during the next five years: FM Nirmala Sitharaman
Gati Shakti masterplan to make world-class infra,
Moving forward on this parallel track, we lay the following four priorities — PM Gati Shakti, inclusive development, productivity enhancement, and investment, sunrise opportunities, energy transition and climate action and financing of investments, says FM Nirmala Sitharaman
The budget lays blueprint from India at 75 to India at 100,
This Union Budget seeks to lay foundation & give a blueprint of the economy over ‘Amrit Kal’ of next 25 years – from India at 75 to India at 100: FM Nirmala Sitharaman
This Budget focusses on youth, women, and farmers,
There was a sharp increase in public investment and capital expenditure in Budget 2021-22…This Budget (2022-23) will benefit the youth, women, farmers, and the backward classes. The PM Gati Shakti master plan will guide the process, says Finance Minister Nirmala Sitharaman.
A strong vaccination campaign helped us tackle Omicron wave,
We are in the middle of the Omicron wave, but the speed of our vaccination campaign has helped greatly. I am confident that via ‘Sabka Prayaas’, we’ll continue with strong growth, says Nirmala Sitharaman
India’s growth is estimated to be at 9.27%:
Finance Minister Nirmala Sitharaman, while presenting the Budget, said that the country is expected to grow at 9.27 percent.
Union Cabinet approves Budget
The Cabinet meeting ahead of the Budget has concluded with the Budget being approved. The meet was attended by Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman, Union Home Minister Amit Shah, Defence Minister Rajnath Singh, among other senior Cabinet colleagues.