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Union Budget 2022 Highlights, Summaries of Agronomy

The highlights of the Union Budget 2022, which includes proposals for fiscal deficit, infrastructure, taxation, and key allocations for various ministries. The document also mentions the education sector, which will see the expansion of the 'One class, one TV channel' program and the development of a digital university. a brief overview of the budget proposals and allocations.

Typology: Summaries

2020/2021

Available from 02/03/2022

ankit-sharda
ankit-sharda 🇮🇳

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BUDGET -
2022
N A M E A N K I T S H A R D A
Y O U T U B E C H A N N E L N A M E A G R O L E A R N I N G
( A N K I T S H A R D A )
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BUDGET -

N A M E – A N K I T S H A R D A Y O U T U B E C H A N N E L N A M E – A G R O L E A R N I N G ( A N K I T S H A R D A )

HOSTED BY –

SMT. NIRMALA SITHARAMAN

ANNOUNCEMENTS

  • (^) Start-Ups will be promoted to facilitate Drone Shakti in all states, required process for skilling will be started.
  • (^) PM development initiatives for North East to be implemented to fund infrastructure and social developmental projects.
  • (^) FM: Public issue of LIC is expected shortly.
  • (^) Ease of Doing business 2.0 and Ease of Living will be launched
  • (^) Over 25k compliances and 1486 union laws were repealed for minimum government and maximum governance Single window portal for all green clearances and helped reduce the time required for approval.
  • (^). The scope of this portal will be expanded.
  • (^) IRDAI has given the framework for issue of surety bonds by insurance companies
  • (^) Additional credit for MSME of Rs 2 lakh crore

DEFICIT/ EXPENDITURE

  • (^) Proposes fiscal deficit of 4.5% of GDP by 2025/
  • (^) Projects fiscal deficit of 6.4% of GDP in 2022/
  • (^) Revised fiscal deficit for 2021/22 at 6.9% of GDP
  • (^) Total expenditure In 2022/23 seen at 39.45 trillion rupees
  • (^) States will be allowed 4% fiscal deficit to GDP in FY
  • (^) 50 year interest free loans over and above normal borrowing allocated to states

TAXATION

  • (^) Import duty on certain chemicals are being reduced
  • (^) Customs duty exemption on steel scrap to be extended for

another year for small- and medium-sized businesses

  • (^) Customs duty on stainless steel, flat products, high steel bars to

be revoked

  • (^) Unblended fuel to get additional duty of 2 rupees per litre from

October 2022

  • (^) No change in personal income tax slab

AGRICULTURE SECTOR

  • (^) 2.37 lakh crore direct payment of MSP value to163 lakh farmer to their account
  • (^) Chemical free natural farming on a 5km wide corridor along river Ganga will be promoted
  • (^) States will be asked to revive agriculture universities
  • (^) Start-Up funding arrangement for agriculture tech start up
  • (^) Use of kisan drone to aid farmers
  • (^) Delivery of digital and hi-tech services to farmers in PPP mode.
  • (^) Funds with blended capital to finance agriculture start –up (NABARD)
  • (^) Domestic scheme introduced to reduce dependence on oilseed imports
  • (^) Implementation of ken –betwa link project (45606 crore ) benefits to 9. lakh hactar farm land and providing drinking water to 62 lakh people

KEY ALLOCATION FROM UNION BUDGET 2022

  • (^) MINISTRY OF COMMUNICATIONS 1.05 lakh cr
  • (^) MINISTRY OF CHEMICALS ANDFERTILISERS 1.08 lakh cr
  • (^) MINISTRY OF AGRICULTURE ANDFARMERS' WELFARE 1.33 lakh cr
  • (^) MINISTRY OF RURAL DEVELOPMENT 1.38 lakh cr
  • (^) MINISTRY OF RAILWAYS 1.40 lakh cr
  • (^) MINISTRY OF HOME AFFAIRSMINISTRY OF ROAD TRANSPORT ANDHIGHWAYS

EDUCATION SECTOR

  • (^) 'One class, one TV channel' program of PM eVIDYA will be

expanded from 12 to 200 TV channels.

  • (^) This will enable all states to provide supplementary education in

regional languages for classes 1 to 12’

  • (^) Digital University to be developed and launched with an aim to

provide access to world class quality education to the students

  • (^) Skilling programs will be reoriented. For skilling, upskilling &

reskilling of our youth, Digital DESH e-portal will be launched

  • (^) Quality e content to be made through various means. teachers

to be trained to use better e teaching outcomes

THANKU

  • (^) Any question
  • (^) Mail Id ---ankitsharda18@gmail.com
  • (^) Linkedin id - https://www.linkedin.com/in/ankit-sharda