The government has mopped up Rs 12,030 crore from PSU disinvestment and strategic sale. This include Rs 2,700 crore from Air India privatisation and another Rs 9,330 crore through minority stake sale in various Central Public Sector Enterprises (CPSEs).
Gross borrowing for the next financial year will be Rs 14,95,000 crore as against Rs 12,05,500 crore Budget Estimate (BE) for 2021-22.
Prime Minister Narendra Modi on Tuesday said that budget 2022 brings in new hopes and opportunities for the people. It strengthens the economy; it's full of 'more infrastructure, more investment, more growth and more jobs'.
Here are the highlights of the Union Budget for 2022-23 presented by Finance Minister Nirmala Sitharaman in Parliament.
Uttar Pradesh Chief Minister Yogi Adityanath hailed the Union Budget 2022-23 saying Important announcements such as MSP, measures to double farmers income, 60 lakh jobs for youth, measures for women empowerment such as Mission Shakti will boost our economy.
The fiscal deficit or the gap between expenditure and revenue was estimated at 6.8 per cent of the gross domestic product (GDP) in the current financial year ending March 31, 2022.
Sitharaman began her presentation of Budget 2022 by expressing empathy with those who were affected by the adverse health and economic effects of the COVID-19 pandemic.
Budget 2022: With this, India will join certain countries that have their own central bank digital currency (CBDC) that refers to the virtual form of a fiat currency. She also said Rs 1 lakh crore financial assistance to states will be provided in 2022-23 to catalyse investments.
Defence Minister also welcomed FM Nirmala Sitharaman's announcement that 68 pc of the defence capital procurement budget would be allocated towards procurement from domestic industry.
Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2022-23 and announced that e-passports will be rolled out this year to enhance the convenience for citizens.
To help the MSME sector become more resilient, competitive and efficient, Nirmala Sitharaman said a Raising and Accelerating MSME Performance (programme will be rolled out.
"M0di G0vernment's Zer0 Sum Budget! Nothing for - Salaried class, Middle class, the poor and deprived, Youth, Farmers and MSMEs," Gandhi said on Twitter.
India has set a target to reduce fiscal deficit to 6.4 per cent of GDP in 2022-23 from the estimated 6.9 per cent in the current financial year, Union Finance Minister Nirmala Sitharaman said on Tuesday.
The tax proposals will come into effect from April 1 after the passage of the Union Budget in Parliament.
Ahead of the Budget, taxpayers were expecting the announcement of changes in Income Tax slabs and rates.
Sitharaman, who also made the second paperless budget presentation as she read the speech from a tab, also quoted a verse from Mahabharat's Shanti Parva.
The Gati Shakti - National Master Plan for Multimodal Connectivity was launched by Prime Minister Narendra Modi in October, last year. Gati Shakti -- a digital platform -- aims to bring 16 Ministries including Railways and Roadways together for integrated planning and coordinated implementation of infrastructure connectivity projects.
Congress general secy and chief spokesperson Randeep Surjewala said the salaried and the middle classes have been affected due to pay cuts and high inflation.
Finance Minister Nirmala Sitharaman said considering the constraint space in urban areas for setting up electric vehicles charging stations, a battery swapping policy will be introduced.
Presenting the Union Budget, Sitharaman said that the overall sharp rebound and recovery of the economy is reflective of India's strong resilience.
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