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Everything about Union Budget 2022: Major Points

In her Budget speech, Finance Minister Nirmala Sitharaman projected a growth of 9.27% for the coming year.

In this article, we will be talking about all the major points on Union Budget 2022. What are your thoughts on the budget? Let us know in the comments down below.

Focus areas of Union Budget 2022

  1. PM Gati Shakti
  2. Inclusive Development
  3. Productivity Enhancement
  4. Sunrise Opportunities
  5. Energy Transition
  6. Climate Action
  7. Financing of investments

For India’s Farmers

  • Chemical-free natural farming to be promoted in India
  • Use of Kisan drones will be promoted for crop assessment, digitization of land records, spraying of insect pesticides
  • Rs 2.37 lakh crore worth of MSP direct payments to wheat and paddy farmers

 

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Seven engines of PM Gati Shakti

  1. Roads
  2. Railways
  3. Airports
  4. Ports
  5. Mass transport
  6. Waterways
  7. Logistics infra
  • ECLGS to be extended upto March 2023, guaranteed cover extended by another Rs 50,000 crore.
  • Total cover under scheme now Rs 5 lakh crore.
  • Additional amount has been earmarked for hospitality sector.

 

A boost for Railways under the Gati Shakti plan

  • 400 new-generation Vande Bharat trains will be developed and manufactured in next 3 years.
  • One station, one product’ concept will be popularised to help local businesses.
  • India plans 100 cargo terminals in 3 years

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  • The National Highway network will be expanded by 25,000 kms in 2022-23
  • Four multi-modal national parks contracts will be awarded in FY23

 

FM’s Digital push

  • Digital ecosystem for skilling and livelihood will be launched.
  • This will aims to skill, reskill, upskill citizens through online training. API based skill credentials, payment layers to find relevant jobs and opportunities
  • An open platform for the national digital health ecosystem will be rolled out.
  • E-passports, the issuance of E passports using embedded ship and futuristic technology will be rolled out in 2022-23 to enhance the convenience for the citizens in their overseas travel.
  • A push for Electric Vehicles: A battery-swapping policy to be brought out with interoperability standards to boost EV ecosystem
  • Digital currency seems to have finally caught governments attention. Introduction of digital rupee using blockchain technology will help in reducing financial and physical efforts required for money management
  • The government will tax income from digital asset transfers at 30%.

For the education sector

  • States will be encouraged to revise syllabi of agricultural universities to meet needs of natural, zero-budget & organic farming, modern-day agriculture
  • One class, one TV channel’ program of PM eVIDYA will be expanded from 12 to 200 TV channels.
  • This will enable all states to provide supplementary education in regional languages for classes 1 to 12.

 

  • Rs 48, 000 crore is allotted for PM Awas Yojana
  • In 2022-23, 80 lakh houses will be completed for identified beneficiaries of PM Awas Yojana; 60,000 houses will be identified as beneficiaries for PM Awas Yojana in rural & urban areas.
  • 60,000 crore allocated for providing access to tap water to 3.8 crore households
  • In 2022-23, 80 lakh households will be identified for the affordable housing scheme

Vedant Dave

Co-Founder at People News Chronicle

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