Union Budget 2022 Highlights, Summaries of Agronomy

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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• (^) Over 25k compliances and 1486 union laws were repealed for minimum government and maximum governance Single window portal for all green clearances and helped reduce the time required for approval.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