February 2022

Highlights of Union Budget 2022-23

• India’s economic growth estimated at 9.2% to be the highest among all large economies.
• 60 lakh new jobs to be created under the productivity linked incentive scheme in 14 sectors.
• Entering Amrit Kaal, the 25 year long lead up to India @100, the budget provides impetus for growth along four priorities:
  1. PM GatiShakti
  2. Inclusive Development
  3. Productivity Enhancement & Investment, Sunrise opportunities, Energy Transition, and Climate Action.
  4. Financing of investments
• National Highways Network to be expanded 25000 Km in 2022-23.
• 2000 Km of railway network to be brought under Kavach, the indigenous world class technology and capacity augmentation in 2022-23.
• 400 new generation Vande Bharat Trains to be manufactured during the next three years.
• 100 PM GatiShakti Cargo terminals for multimodal logistics to be developed during the next three years.
• National Ropeways Development Program, Parvatmala to be taken up on PPP mode.
• Rs. 2.37 lakh crore direct payment to 1.63 crore farmers for procurement of wheat and paddy.
• Kisan Drones’ for crop assessment, digitization of land records, spraying of insecticides and nutrients.
• Digital Ecosystem for Skilling and Livelihood (DESH-Stack e-portal) will be launched to empower citizens to skill, reskill or upskill through on-line training.
• One class-One TV channel programme of PM eVIDYA to be expanded to 200 TV channels.
• Digital University for world-class quality universal education with personalised learning experience to be established.
• An open platform for National Digital Health Ecosystem to be rolled out.
• National Tele Mental Health Programme’ for quality mental health counselling and care services to be launched.
• Two lakh anganwadis to be upgraded to Saksham Anganwadis.
• Rs. 60,000 crore allocated to cover 3.8 crore households in 2022-23 under Har Ghar, Nal se Jal.
• Rs. 48,000 crore allocated for completion of 80 lakh houses in 2022-23 under PM Awas Yojana.
• New scheme PM-DevINE launched to fund infrastructure and social development projects in the North-East.
• Vibrant Villages Programme for development of Border villages with sparse population, limited connectivity and infrastructure on the northern border.
• 100 per cent of 1.5 lakh post offices to come on the core banking system.
• e-Passports with embedded chip and futuristic technology to be rolled out.
• Unique Land Parcel Identification Number for IT-based management of land records.
• Centre for Processing Accelerated Corporate Exit (C-PACE) to be established for speedy winding-up of companies.
• Introduction of Digital Rupee the Reserve Bank of India starting 2022-23.