Union Budget 2022: Key Highlights of the Budget: Know top 15 points in FM Budget speech.

The Union Budget 2022:

  1. The Finance minister in her budget stated the current growth which is estimated at 9.2% for this year she said that India is in a strong position to withstand all challenges and the focus of the Government is on the empowerment of the citizens. 
  2. She said that the strategic transfer of Air India is executed successfully. The Economic recovery is benefitting from the multiplier effect. 
  3. She stated that the ‘Make in India’ initiative can create 6 million new jobs in India. She added that India seeks to lay a landmark foundation for the next 25-years. 
  4. Most importantly the ‘Gati Shakti’ Master Plan to be formulated for E’ways. The Union will expand highways by 25,000 KMs in Financial Year 23 with a budget of  Rs. 20000 cr. The ‘PM Gati Shakti’ Cargo terminals to be developed in India.
  5. She further said that the Union will introduce 400 new ‘Vande-Bharat’ trains. In the agriculture field she made an important announcement that Chemical-free natural farming to be promoted.
  6. SEZ (Special Economic Zones) Act will be replaced with the new legislation for the development of enterprise and hubs. It will cover the existing industrial enclaves and enhance the competitiveness of exports.
  7. She promised the payment of Rs. 2.73 Lakh Crore MSP. The Union has finalized 5 River-linking projects. The Union has extended the Credit-linked Guarantee scheme till March 2023.(More loans from banks for MSME sector) 
  8. New agricultural university.
  9. There will be promotion to food processing industries. 
  10. She added that the Startups will be promoted under ‘Drone Shakti’. 
  11. There will be the establishment of Digital University. The Union has expanded the PM E-Vidya to 400 channels. 
  12. There will be Upgradation of 2 Lakh Aanganwadis and 80 Lakh homes will be completed under PM-Aawas Yojna. There is a budget of Rs. 60,000 Cr to cover 3.8Cr households for tap-water.
  13. The government announced 1 Nation, 1 registration for land reforms.
  14. There is a reduction of Tax rate for cooperative societies by 15%
  15. There will be 30% tax on digital asset transfer.

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