General highlights from the Union Budget 2022
Check out the general highlights from the Union Budget 2022 presented by the Hon’ble Finance Minister Nirmala Sitharaman
- Voluntary exit for corporates to be reduced to 6 months from 2 years.
- LIC IPO is expected shortly.
- Emergency Credit Line Guarantee Scheme extended till March 2023.
- A scheme to increase domestic oilseed production will be brought in to reduce imports.
- India’s economic growth in current year is estimated to be 9.2%, highest among all large economies.
- Sovereign Green Bonds will be issued to fund the green infrastructure projects.
- RBI to Issue Digital Rupee Using Blockchain Technology In FY22-23.
- 75 digital banking units will be set up via scheduled commercial banks.
- Digital university to be set up to provide education at the doorstep.
- Issuance of E-passports will be rolled out in 2022-23.
- Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) to be revamped with required fund infusion. Will facilitate additional credit of Rs. 2 lakh crore for Micro and Small Enterprises and expand job opportunities.
- Animation, Visual Effects, Gaming and Comics (AVGC) sector offers immense potential to employ youth. An AVGC promotion task force with all stakeholders will be set up to recommend ways to realise this and build domestic capacity for serving our markets and the global demand.
- Ease of living & doing business: ‘One Nation, One Registration’ will be established for anywhere registration.
- PM Gati Shakti Master Plan for Expressways to be formulated in 2022-23, to facilitate faster movement of people and goods. NH network to be expanded by 25,000 km in 2022-23. Rs. 20,000 crores to be mobilized to complement public resources.
Also Read: Union Budget 2022 amendments proposed in the Income Tax
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