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Breaking- Budget 2022 Updates

FM Sitharaman begins her budget speech by expressing empathy to those who suffered during the pandemic.

India’s growth estimated to be at 9.2%, highest among all large economies; we are now in a strong position to withstand challenges, says FM

PM Gati Shakti will pull forward the economy and will lead to more jobs and opportunities for the youth

  • Masterplan will encompass the seven engines of economic transformation
  • PM Gatishakti masterplan for expressways will be formulated in next financial year
  • The National Highway network will be expanded by 25,000 kms in 2022-23
  • Four multi-modal national parks contracts will be awarded in FY23

Rs 48, 000 crore is allotted for PM Awas Yojana

  • In 2022-23, 80 lakh houses will be completed for identified beneficiaries of PM Awas Yojana; 60,000 houses will be identified as beneficiaries for PM Awas Yojana in rural & urban areas.
  • 60,000 crore allocated for providing access to tap water to 3.8 crore households
  • In 2022-23, 80 lakh households will be identified for the affordable housing scheme
  • Contracts for laying optical fibre in villages to be awarded under BharatNet project under PPP in 2022-23

India to launch sovereign green bonds

  • Funds will be used for projects that will help reduce carbon intensity of the economy.
  • Sovereign green bonds will be part of government’s borrowing programme in FY23.
  • Proceeds to be deployed in public sector projects.

A boost for Railways under the Gati Shakti plan

  • 400 new-generation Vande Bharat trains will be developed and manufactured in next 3 years.
  • One station, one product’ concept will be popularised to help local businesses.
  • India plans 100 cargo terminals in 3 years

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