Budget 2022: Important Key Points of Union Budget 2022

Budget 2022: Important Key Points of Union Budget 2022 On 1st February 2022 the Finance Minister presented the Union Budget that mainly focused on go…

Shivani Bhati

Feb 2, 2022

Last update on Feb 2, 2022

Budget 2022: Important Key Points of Union Budget 2022 On 1st February 2022 the Finance Minister presented the Union Budget that mainly focused on government expenditure to boost economic growth. Here are some major announcement in the budget 2022:

The FM presented the budget of Rs 39.45 lakh crore for the FY2023 which mainly focused on boosting the economy which has been crashed due to pandamic.
The expected fiscal deficit for the current financial year is at 6.9% of GDP, which is slightly higher then the last year 6.8% targeted. For the next year the fiscal deficit of 6.4% has been targeted, which is a matter of concern.
The Capital Expenditure is high by 35% again to Rs 7.50 lakh crore, to revive the Indian economy by investing more.
Under Prathan Mantri Awas Yojana the completion of 80 lakhs homes has been expected by 2023 and allocation of Rs 48,000 crore has been announced for affordable housing to all.
The government will be conducting spectrum auctions this year to enable the launch of 5G services.
The telecom equipment PLI has an outlay of Rs 12,195 cr, but since Rs 4,000 cr- Rs 4,500 cr is not utilised, it can be used for 5G.
BUDGET SPEECH :-“Our vision is that all villages and their residents should have the same access to e-services, communication facilities, and digital resources as urban areas and their residents. The contracts for laying optical fibre in all villages, including remote areas, will be awarded under the BharatNet project through PPP in 2022-23. Completion is expected in 2025. Measures will be taken to enable better and more efficient use of the optical fibre,”.
Last year, the government had approved a revised implementation strategy for the BharatNet project by opting for PPP mode in 16 states, for which the government would provide Rs 19,041cr as viability gap funding. With the additional allocation, the total outlay for BharatNet has increased to Rs 61,109cr.