Budget 2022: FM Sitharaman’s announcement Key points


• Public Issue of LIC is expected shortly.
• 2 lakhs crores additional help for MSMEs.
• Credit-Linked Guarantee Scheme extended till March 2023.
• One class-one TV channel and 200 TV channels to provide education in all Regional languages.
• A Digital University will be set up for higher education.
• 80 Lakhs homes to be completed under PM Aawas Yojna.
• Maximum Governance, minimum Government: Ease of doing business 2.0 to be launched.
• E-Passports: Using embedded chip to be rolled out in 2022.
• Scope of Green Clearance Portal to be expanded.
• Cross broader insolvency announced in budget
• Faster voluntary liquidation announced

Budget 2022 Live News: Union Budget 2022-23 will lay the foundation for India’s economic growth and expansion for the next 25 years, Finance Minister Nirmala Sitharaman said while presenting the budget in the Lok Sabha on Tuesday. Union Budget 2022 comes at a crucial juncture for the public and policymakers alike for the following reasons:
1) upcoming elections in five states, 
2) looming omicron threat, 
3) nascent economic recovery, and 
4) key numbers like fiscal deficit, tax collection, and spending outlook.
Prime Minister Narendra Modi-led govt expects to lead the world in economic growth this year in a post-pandemic bounceback, according to Economic Survey 2022.

Capital Expenditure

Effective Capital Expenditure of the Central Govt is estimated at ₹10.68 lakh crores in 2022-23, about 4.1% of GDP: FM Nirmala Sitharaman

Higher Capex

Outlay for capex higher by 35% to ₹7.05 lakh cr for FY23

Paperless e-bill system

A completely paperless, e-bill system will be launched by ministries for procurement, says FM.

Urban planning

5 existing academic institutions for urban planning to be designated as Centre for Excellence with endowment fund of ₹250 cr: FM.

5G spectrum

5G spectrum auction to be conducted in 2022: FM

Defence ‘Aatmanirbharta’

68% of the capital procurement budget for Defence to be earmarked for domestic industry to promote Aatmanirbharta and reduce dependence on imports of defence equipment. This is up from the 58% last fiscal: FM Nirmala Sitharaman

Building by-laws

Modern building by-laws will be introduced: FM.

E-passport

E-passport with embedded chip will be rolled out, says FM.

Digital university

Finance Minister Nirmala Sitharaman on Tuesday proposed to set up a digital university to provide education that will be built on a hub and spoke model.

Urban planning

A high-level panel to be set up for urban planning: FM

NABARD funds

Fund to be facilitated through NABARD to finance startups for agriculture and rural enterprise, relevant for farm produce value chain. Startups will support FPOs and provide tech to farmers: FM Nirmala Sitharaman

Kisan Drones

Use of Kisan Drones to be promoted for crop assessment, digitization of land records, spraying of insecticides and nutrients: FM Nirmala Sitharaman

New vibrant village programme

Villages on northern border of India will be covered under a new vibrant village programme to enhance development: FM.

PM Awas Yojna

80 lakh affordable houses will be completed at ₹44,000 cr under PM Awas Yojna in 2022-23: Sitharaman