Finance Minister Nirmala Sitharaman presented the 10th Budget of Modi government. For a common person this budget is very important agenda in view of government's pending and expected source of income.
FM Sitharaman started with some overwhelming figures which boosted the confidence and positivity among Indian citizens.
"FM Sitharaman shared that, India’s economic growth is estimated to be at 9.27 percent in FY22, highest among all large economies and the GST collection has crossed all time high figure in the month of January."
Following are some key highlights of the budget :
The National Highway network will be expanded by 25,000 kms in 2022-23.
PM Gati Shakti was an ambitious announcement by the FM which will facilitate faster movement of people & goods. Rs 20,000 crore financed by the govt to speed up this project.
PM Gati Shakti will pull forward the economy and will lead to more jobs & opportunities for the youth.
400 new generation Vande Bharat trains with better efficiency to be brought in during the next 3 years.
Railways will develop efficient logistics for small farmers & enterprises. 'One station, one product' to help supply chain of local product.
FM said that in 2022, 100 percent of 1.5 lakh post offices will come under core banking system.
Government announces Rs 48,000 crore is allotted for PM Awas Yojana and 60,000 houses will be identified as beneficiaries in rural and urban areas.
Emergency Credit Line Guarantee, which has provided additional credit to MSMEs, extended till March 2023.
Guarantee cover to be expanded by Rs. 50,000 crore to a total cover of Rs. 5 lakh crores. Additional amount earmarked exclusively for hospitality, related sectors to bring relief.
A digital university will be set up in India to provide students access to world-class education amid academic disruptions caused by the coronavirus pandemic.
The issuance of e-Passports will be rolled out in FY22-23 to enhance convenience for citizens.
Chemical-free natural farming will be promoted throughout the country with a focus on farmers’ land in the five km wide corridors.
Blockchain powered digital rupee by RBI will be introduced in 2022-23 in India.
Taxpayers can now file an updated return within 2 years from the relevant assessment year.
There will be more elaborated presentation from our side, which will touch every aspect related to your investment and portfolios. Do keep a watch on our special Newsletter of this month including our special section "UNION BUDGET 2022 - Simplified"