Estimated Total Receipt:- 39,44,157 cr (Aprox- 39.45 lakh cr)
✓ Revenue Receipt:- 22,04,422 cr
✓ Capital Receipt:-17,39,735 cr
✓ Total Expenditure:-39.45 lakh cr
✓ Effective Capital Expenditure:-10.68 lakh cr (over 4% of GDP)
✓ Capital Expenditure:-(Asset Creation for infrastructure)-7.50 lakh cr (2022-23) (35.4% over than last year)
✓ Last Fiscal year (2021-22)-5.50 lakh cr
✓ Total outlay 2022-23 to be 2.9% of GDP
Deficit FY (2022-23) FY (2021-22) •Fiscal Deficit 6.4% of GDP 6.9% of GDP
•Revenue Deficit. 3.8% of GDP. 4.7% of GDP
•Primary Deficit. 2.8 % of GDP. 3.3% of GDP
•Effective Revenue 2.6% of GDP. 3.7% of GDP
Note: Gov. of India targeted to Fiscal Deficit 4.5% by FY (2025-26)
• India's Economic GDP Growth Rate - 9.2 % FY (2021-22)
• India's Economic GDP Growth Rate -8-8.5% FY (2022-23)
• Indian's economics growth in the current year is estimated to be 9.2 per Cent, highest among all large economics.
• Finance Minister said, India is celebrating Azadi ka Amrit Mahotsav and it has entered into Amrit Kaal, the 25-year-long lead up to India@100.
• Finance Minister informed that the Productivity Linked Incentive (PLI) in 14 sectors for achieving the vision of AtmaNirbhar Bharat has received excellent response, with potential to Create 60 Lakh New Jobs, and an Additional Production of Rs. Lakh Crore during Next 5 Years.
• The Public of the LIC is expected shortly and others too are in the process for 2022-23.
• Strategic transfer of ownership of Air India has been completed, The strategic partner for NINL (Neelanchal Ispat Nigam Limited) has been selected.
• India's economic growth estimated at 9.2 % to be the highest among all large economies.
• 60 Lakh New Jobs to be created under the productivity Linked Incentive Scheme in 14 Sectors.
• PLI scheme have the potential to create an Additional production of RS 30Lakh Crores.
• Eatering Amrit Kaal, the 25 year long lead up to India@100.
The Budget provides Impetus For Growth Along Four Proritiess
1. PM GatiShakti
2. Inclusive Development
3. Productivity Enhancement & Investment, hando Sunrise opportunities, Energy Transition, and Climate Action.
4. Financing of investments
PM Gatishkati National Master Plan
• Seven Engines that drive PM Gati Shakti are Roads, Railways, Airports, Ports, Mass Transport, Waterways and Logistics Infrastructure.
• All seven engine will pull forward the economy in Unison.
• The Project pertaining to these 7 Engines in the National Infrastructure Pipeline will be aligned with PM GatiShakti Framework.
Road Transport
• National Highways network will be expended by 25,000 km in 2022-23 and Rs 20,000 Crore will be mobilized through innovative ways of financing to complement the public resources.
Multimodal Logistics Parks
• Contracts for implemention of 'Multimodaľ Logistics parks at Four Locations through PPP Mode will be awarded in 2022-23.
Railways
• In Railways, the Finance Minister said One Station-one Product concept will be popularized to help local businesses & supply chains.
• Moreover, as a part of Atmanirbhar Bharat, 2,000 Km of Network will be brought Under Kavach the indigenous world-class technology for safety and capacity augmentation in 2022-23.
• Train Collision Avoidance System(TCAS),also known as Automatic Train Protection (ATP) system or "Kavach', is to help the Railways to achieve the goal of "Zero accidents" as its implementation will bring train movement to a halt automatically when it notices another train on the same line within a prescribed distance.
• 400 New Generation Vande Bharat Trains to bee manufactured during the Next Three years.
•100 PM Gatishakti Cargo Terminals for multimodal logistics to be developed during the Next Three Years.
Parvatmala
• National Ropeways Development program, parvatmala to be taken up on PPP mode.
Contracts to be awarded in 2022-23 for 8 Ropeway Projects of 60 Km Lengh.
Agriculture
• Finance Minister informed that Chemical-free Natural Farming will be promoted throughout the country, with a focus on farmer's lands in 5-km wide corridors along river Ganga, at the first stage.
• 2023 has been announced as the International Year of Millets.
• Rs. 2.37 Lakh Crore direct payment to 1.63 Crore Farmers for procurement of Wheat And paddy.
Ken Betwa Project
• Nirmal Sitharaman Said, implementation of the KenBetwa Link Project, at an Estimated Cost of Rs 44,605 Crore will be taken up aimed at providing Irrigation Benefits to 9.08 Lakh Hectare of Farmers' Lands, drinking water supply for 62 lakh people, 103 MW of Hydro, and 27 MW of solar power.
• Allocations of Rs 4,300 crore in RE 2021-22 and Rs 1,400 crore in 2022-23 have been made for this project.
• Moreover, Draft DPRs of five river links, namely Damanganga-Pinjal, Par-TapiNarmada, Godavari-Krishna, Krishna-Pennar and Pennar-Cauvery have been finalized and once a consensus is reached among the beneficiary states, the centres will provide support for implementation. Detailed project Report (DPR)
MSME
• Finance Minister underlined that the Emergency Credit Line Guarantee scheme (ECLGS) has provided much- needed additional credit to more than 130 lakh MSME to help them mitigate the adverse impact of the pandemic
• She, however added that the Hospitality and related services, especially those by micro and small enterprises, are yet to regain their pre-pandemic level of business and after considering these aspects, the ECLGS will be extended up to March 2023.
• She informed that its guarantee cover wilf be expended by Rs 50,000 crore to total of Rs 5 Lakh Crore, with the additional amount being earmarked exclusively for the Hospitality And Related Enterprises.
• Similarly, Credit Guarntee Trust for Microand Small Enterprises (CGTMSE) scheme will be revamped with required infusion of funds.
• This will facilitate additional credit of Rs 2 lakh crore for Micro and small Enterprises and expand employment opportunities.
• She informed that Raising and Acceleration MSME performance (RAMP) Programme with outfay of Rs 6,000 Crore over 5 Years will be rolled out to make the MSME sector more resilient, competitive and efficient.
•Udyam, e-sharam, NCS and ASEEM portals will be interlinked and their scope will be widened.
Skill Development
• Digital Ecosystem for skilling and Livelihood (DESH-Stack e-portal) will be launched to empower citizens to skill, reskill or upskill through on-line training.
• Minister said that Startups will be promotèd to facilitate Drone shakti" through varied applications and for Drone As-A-Service(DrAASs).
Education
• In select ITls, in all states, the required course for skilling will be started.
• In vocational cources, to promote crucial critical thinking skills, to give space for creativity, 750 virtual labs in science and mathematics, and 75 skilling e-labs for simulated learing environment, will be set-up in 2022-23.
• One class-one TV channel' Programme of'PM eVIDYA will be expanded from 12 to 200 TV channels and this will enable all states to provide supplementary education in regional languages for classes 1-12.
• A Digital University will be established to provide access to students across the country for world-class quality universal education with personalized learning experience at their door steps.
• High-quality e-content will be developed for
delivery through Digital Teachers.
PM eVIDYA
• Government of India has launched the PM eVIDYA program.
• Under this scheme, the top hundred universities of the country will start educating students through online education.
Health
• National Tele Mental Health Programme for quality mental health counseling and care services to be launched.
• A network of 23 tele-mental health centres of excellence will be set up, with NIMHANS being the nodal centre and International Institude of Information Technology- Bangalore (ITB) providing technology support.
Saksham Anganwadi
• Integrated benefits to woman and children through Mission Shakti, Mission Vatslya, Saksham Anganwadi and Poshan 2.0.
• Two lakh anganwadis to be upgraded to Saksham Anganwardis.
Har Ghar, Nal Se Jal
• Nirmala Sitaraman announced an allocation of Rs 60,000 crore to cover 3.8 crore households in 2022-23 for Har Ghar, Nal Se Jal.
• Current coverage is 8.7 crores and of this 5.5 households were provided tap water in last 2 years itself.
Housing for All
• Similarly, in 2022-23, 80 lakh houses will be completed for the identified eligible beneficiaries of PM Awas Yojana, both rural and urban and Rs 48000 crore is allocated for this purpose.
Banking
• In 2022, 100 per cent of 1.5 lakh post offices will come on the core banking system enabling financial inclusion and access to accounts through 11 net banking, mobile banking, ATMs, and also provide online transfer of funds betweens post office account and bank accounts.
• To mark 75 years of independence, the government has proposed to set up 75 Digital Banking Units (DBUs) in 75 districts of the country by scheduled Commercial Banks to ensure that the benefits of digital banking reach every nook and corner of the country in a consumer-friendly manner.
e-passport
• The issuance of e-passports using Emabedded Chip and futuristic technology will be rolled out in 2022-23 to enhance convenience for the citizens in their overseas tDigital
Accelerated Corporate Exit
Centre for Processing Acceelerated Corporate Exit (C-PACE) to be established for speedy winding-up of companies.
Sunrise Opportunities
Government contribution to be provided for R&D in Sunrise Opportunities like Artificial Intelligence, Geospatial Systems and Drones, Semiconductor and its eco-system, Space Economy, Genomics and Pharmaceuticals, Green Energy, and Clean Mobility Systems.
Digital Rupee
Introduction of Digital Rupee by the Reserve Bank of India Starting 2022-23.
Fiscal Management
• Budget Estimates 2021-22: Rs. 34.83 lakh crore
• Revised Estimated 2021-22: Rs. 37. 70 lakh crore
• Total expenditure in 2022-23 estimated at Rs. 39.45 lakh crore .
• Total receipts other than borrowings in 2022-23 estimated at Rs. 22.84 lakh crore
• Fiscal deficit in current year 6.9 % of GDP (against 6.8% in Budget Estimates)
•Fiscal deficit in 2022-23 estimated at 6.4 % of GDP
Public Capital investment:
• Public investment to continue to pump-private investment and demand in 2022-23.
• Outlay for capital expenditure stepped up sharply by 35.4% to Rs. 7.50 lakh crore in 2022-23 from Rs. 5.54 lakh crore in the current year.
• Outlay in 2022-23 to be 2.9 % of GDP.
• Effective Capital Expenditure of Central Government estimated at Rs. 10.68 lakh crore in 2022-23, which is about 4.1 % of GDP.
Providing Greater Fiscal Space to States
• Enhanced outlay for 'Scheme for Financial Assistance to States for Capital Investment'.
• From Rs. 10,000 crore in Budget Estimates to Rs. 15,000 crore in Revised Estimates for current year
• Allocation of Rs. 1 lakh crore in 2022-23 to assist the states in catalysing overall investments in the economy: Fifty-year interest free loan, over and above normal borrowings
• In 2022-23, States will be allowed a fiscal deficit of 4 % of GSDP, of which 0.5 % will be tied to power sector reforms
Taxation
• MAT (Minimum Alternative tax) paid by cooperative down from 18.5 % to 15 %.
• Surcharge on co-operative societies reduced from 12% to 7 % for those having total income of more than 1 crore but upto 10 crore.
• Period of in corperation extended by one year upto 31.03 2023. 30 % tax applicable on any income from transfer of any virtual digital asset (Cryptocurrency) and also 1 % TDS will be applicable against payment mode trasaction
• 15% surcharge will be applicable on long term capital gain transfer.
• NPS (National pension scheme) contribution of Taxation Limit Increased from 10 to 14% on employees contribution to the NPS account of state government Employee.
Allocation to Major Schemes/Mission/Project
> Saksham-Agnwadi)- 20,263 Crore
> PM Poshan - 10,234 Crore
> Mission Shakti- 3,184 Crore
> Telecom and Networking Products- 528 crore (Under PLI scheme)
> Pradhan Mantri Awas Yojana(PMAY)-48,000Crore
> Large Scale Electronics & It Hardware-53,000 cr
> Pharamceuticals -1,629cr
> National Health Mission (NHM)-37,800cr
> Jal Jeevan Mission (JJM)-60,000cr (Under national rural drinking water mission)
> National Education Mission- 39,553cr
> Pradhan Mantri Gram Sadak Yojaan(PMGSY)-19,000cr
> PM Kisan-68,000cr
> Atmanirbhar bharat Rojgar Yojana-6,400cr
> National Livelihood Mission (Ajeevika)-14,236 cr
> Pradhan Mantri swasthya Suraksha Yojana- 10,000cr
> MNREGA 73,000cr (25 % cut down last year allocations)
> PMJAY-7,857 cr
> Boarder area development programe-566cr
> Swachha Bharat Mission -7,192cr
> Crop Insurance scheme-15,500cr
> R&D projects (BARc)-1,259cr
> Metro Project -19,130cr
> Khadi Gramodyog vikas Yojana-749cr
> Solar power (Grid) -330cr
> Wind power- 1,050cr handa.
> DBT for LPG- 4,000cr
> LPG Connection poor household-800cr
> Eklavya Model Residencial school-2,000cr
> Khelo India-974cr
> Jobs & skill Development-2,688cr
> Mission Shakti(protection and Empowerment of Women)- 3,184cre
> Subsidy-3.18 lakh crore(Which is 39 % declined from last year)
> PMKSY- 12,954 CR
> RASHRIYA KRISHI VIKAS YOJANA (RKVY)-10,433 CR
> Scheduled cast -1,42,342 cr
> Scheduled Tribes-89,265 cr
> AMRUT-14,100 cr (Atal Mission Rejuvation for urban transformation)
> SPRM- 550 cr
> Blue Revolution-1,891 cr
> FAME-2,908 cr (Faster Adoption and Manufacturing of hybrid Electric vehicles)
> Swadesh Darshan -1,181 cr
> PM-KUSUM-1,716 cr (Kisan Urja Surksha Evam Uthan Mahabhiyan)
> Space Technology 10,553 cr
> Atal Bhujal Yojana -700 cr
> National Infrastructure Investment Bank- 5003 cr