highlights-of-the-union-budget-2022-23

The Union Budget seeks to complement macro-economic level growth with a focus on microeconomic level all inclusive welfare. The Union Minister for Finance & Corporate Affairs, Smt
Nirmala Sitharaman tabled the Union Budget 2022-23 in Parliament today.
 

The key highlights of the budget are as follows:
PART A

  • 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.
  • PLI Schemes have the potential to create an additional production of Rs 30 lakh crore.
  • Entering Amrit Kaal, the 25 year long lead up to India @100, the budget provides

impetus for growth along four priorities:

  • PM GatiShakti
  • Inclusive Development
  • Productivity Enhancement & Investment, Sunrise opportunities, Energy Transition, and Climate Action
  • Financing of investments

PM GatiShakti

  • The seven engines that drive PM GatiShakti are Roads, Railways, Airports, Ports,
  • Mass Transport, Waterways and Logistics Infrastructure.

PM GatiShkati National Master Plan

  • The scope of PM GatiShakti National Master Plan will encompass the seven engines for economic transformation, seamless multimodal connectivity and logistics efficiency.
  • The projects pertaining to these 7 engines in the National Infrastructure Pipeline will be aligned with PM GatiShakti framework.

Union Budget 2022-23 
Road Transport

  • National Highways Network to be expanded by 25000 Km in 2022-23.
  • Rs 20000 Crore to be mobilized for National Highways Network expansion.

Multimodal Logistics Parks

  • Contracts to be awarded through PPP mode in 2022-23 for implementation of Multimodal Logistics Parks at four locations.

Railways

  • One Station One Product concept to help local businesses & supply chains.
  • 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.

Parvatmala

  • National Ropeways Development Program, Parvatmala to be taken up on PPP mode.
  • Contracts to be awarded in 2022-23 for 8 ropeway projects of 60 Km length.

Inclusive Development
Agriculture

  • Rs. 2.37 lakh crore direct payment to 1.63 crore farmers for procurement of wheat and paddy.
  • Chemical free Natural farming to be promoted throughout the county. Initial focus is on farmer’s lands in 5 Km wide corridors along river Ganga.
  • NABARD to facilitate fund with blended capital to finance startups for agriculture & rural enterprise.
  • ‘Kisan Drones’ for crop assessment, digitization of land records, spraying of insecticides and nutrients.

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