Union Budget 2022: These are the biggest highlights from the Finance Minister’s speech

Feb 1, 2022

By: BI India Bureau

Contracts for 25,000 km of new highways will be awarded in FY23. Budget allocation: ₹20,000 crore.

Credit: Pixabay

The Finance Minister has announced a fund to support startups in agriculture...

...which will be routed via National Bank for Agriculture and Rural Development (NABARD).

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Government promises big public investment in building modern infrastructure including...

...roads, highways, transport and logistics networks over the next 25 years.

Credit: Pixabay

Credit guarantee trust for micro, small and medium enterprises (MSMEs)...

...will create additional credit of ₹2 lakh crore for small businesses.

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To boost the Gati Shakti plan, 400 Vande Bharat trains will be developed in the next three years.

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A digital university will be established for digital learning which will be available in different languages.

It will be built in collaboration with the universities in India.

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To improve access to mental healthcare, 23 tele-mental health centres will be launched...

...with NIMHANS as the nodal unit, and IIIT Bangalore providing tech support.

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Special mobility zones will be launched where vehicles running on petrol and diesel will not be allowed.

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For delivery of digital and high tech services to farmers,...

...with involvement of public sector research and extension institutions along with private agri-tech players and stakeholders of agri-value chains, a scheme in PPP mode will be launched.

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Rs. 1,000 crore BE 2022-23 for the project providing clean water.

Last year Rs. 4,300 crore were allocated for this project.

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68 percent of capital procurement budget will be earmarked...

...for the domestic industry in 2022-23 — up from 58 percent last year.

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Outlay for capital expenditure raised by 35 percent to ₹7.5 lakh crore, it’s 2.9 percent of GDP.

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Digital currency using Blockchain technology to be...

...issued by the RBI starting the financial year ending March 2023.

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The union government says states will be allowed additional interest-free 50-year loans of ₹1 lakh crore...

...to fund infrastructure projects. That’s ten times the FY22 revised allocation of ₹15,000 crore.

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FY22 fiscal deficit 6.9 percent FY23 fiscal deficit estimate 6.4 percent.

It’s the difference between what the government earns and what it spends.

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