Highlights of the Union Budget 2022-23 - Part A
07 Feb 2022
- India’s economic growth, estimated at 9.2 per cent, 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:
- Inclusive Development
- Productivity Enhancement & Investment, Sunrise opportunities, Energy Transition, and Climate Action.
- PM GatiShakti: The seven engines that drive PM GatiShakti are Roads, Railways, Airports, Ports, Mass Transport, Waterways and Logistics Infrastructure.
- National Highways Network to be expanded by 25000 Km in 2022-23.
- Rs20,000 crore to be mobilised 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; 2,000 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: Rs2.37 lakh crore direct payment to 16.3 million 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 and rural enterprise.
- ‘Kisan Drones’ for crop assessment, digitisation of land records, spraying of insecticides and nutrients.
- Ken Betwa project: Rs1400 crore outlay for implementation of the Ken–Betwa link project; 9.08 lakh hectares of farmers’ lands to receive irrigation benefits by Ken-Betwa link project.
- MSME: Udyam, e-shram, NCS and ASEEM portals to be interlinked; 13 million MSMEs provided additional credit under Emergency Credit Linked Guarantee Scheme (ECLGS) - ECLGS to be extended up to March 2023; Guarantee cover under ECLGS to be expanded by Rs50,000 crore to total cover of Rs5 lakh crore; Rs2 lakh crore additional credit for Micro and Small Enterprises to be facilitated under the Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE); Raising and Accelerating MSME performance (RAMP) programme with outlay of Rs6,000 crore to be rolled out.
- Skill Development: 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.
- Startups will be promoted to facilitate ‘Drone Shakti’ and for Drone-As-A-Service (DrAAS).
- Education: ‘One class-One TV channel’ programme of PM e-VIDYA to be expanded to 200 TV channels; Virtual labs and skilling e-labs to be set up to promote critical thinking skills and simulated learning environment; High-quality e-content will be developed for delivery through Digital Teachers; Digital University for world-class quality universal education with personalised learning experience to be established.
- Health: 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; A network of 23 tele-mental health centres of excellence will be set up, with NIMHANS being the nodal centre and International Institute of Information Technology-Bangalore (IIITB) providing technology support.
- Saksham Anganwadi: Integrated benefits to women and children through Mission Shakti, Mission Vatsalya, Saksham Anganwadi and Poshan 2.0; Two lakh anganwadis to be upgraded to Saksham Anganwadis.
- Har Ghar, Nal Se Jal: Rs60,000 crore allocated to cover 38 million households in 2022-23 under Har Ghar, Nal se Jal.
- Housing for All: Rs48,000 crore allocated for completion of 8 milin houses in 2022-23 under PM Awas Yojana.
- New scheme Prime Minister’s Development Initiative for North-East Region (PM-DevINE) launched to fund infrastructure and social development projects in the North-East ; An initial allocation of Rs1,500 crore made to enable livelihood activities for youth and women under the scheme.
- Vibrant Villages Programme: Vibrant Villages Programme for development of Border villages with sparse population, limited connectivity and infrastructure on the northern border.
- Banking: 100 per cent of 1.5 lakh post offices to come on the core banking system; Scheduled Commercial Banks to set up 75 Digital banks