union budget of india 2022-23
Indian Finance minister Sitharaman presented the annual union budget for the year 2022-2023 in the parliament in the nation’s capital new delhi in her opening remarks Sitharaman say that india’s growth is estimated to be at 9.2 percent the highest among all large economies as the nation is now in a strong position to withstand challenges such as coronavirus. I present the budget for the year 2022-23 at the outset the overall sharp rebound and recovery of the economy is reflective of our country’s strong resilience. India’s economic growth in the current year is estimated to be 9.2 percent highest among all large economies honorable prime minister in his independence day address had set out the vision for india at 100 by achieving certain goals during amritkal. Our government aims to attain this mission.
They are complementing the macroeconomic level growth focus with a microeconomic level all inclusive welfare focus promoting digital economy and fintech technology enabled development energy transition and climate action and relying on virtuous cycles starting from private investment with public capital investment helping to crowd in private investment, its fundamental tenets which included transparency of financial statement and fiscal position reflect the government’s intent strengths and challenges the strengthening of health infrastructure speedy implementation of the vaccination program and nationwide resilient response to the current wave of the pandemic are evident for all the productivity linked incentive in 14 sectors for achieving the vision of atmanirbhar bharat has received excellent response with potential to create 60 lakh jobs and an additional production of 13 lakh growth during next five years. Towards implementation of the new public sector enterprise policy the strategic transfer of ownership of air india has been completed budget 2021-22 had provided a sharp increase in provision for public investment or capital expenditure throughout the year with the honorable prime minister guiding the implementation our economic recovery is continuing to benefit from the multiplier effect.
This budget continues to provide impetus for growth it lays a parallel track off one a blueprint for amir khal which is futuristic and inclusive. This will directly benefit our youth women farmers, the scheduled casts and the scheduled tribes and number two big private public investment for modern infrastructure readying for india at hundred. This shall be guided by pm gati shakti and be benefited by the synergy of multi-modal approach. Pm gati shakti is a transformative approach for economic growth and sustainable development, the approach is driven by seven engines namely roads, railways,airports, mass transport, waterways and logistics infrastructure, all seven engines will pull forward the economy in unison.
These engines are supported by the complementary roles of energy transmission i.e., communication bulk water and sewerage and social structure, finally the approach is powered by clean energy and subcapria’s the efforts of the central government, the state governments and the private sector together leading to a huge job and entrepreneurial opportunities for all especially the youth, pm gatishakti master plan national master plan the scope of pm gatishakti national masterplan will encompass seven engines for economic transformation seamless multimodal connectivity and logistics efficiency, the projects pertaining to these seven engines in the national infrastructure pipeline will be aligned and aligned with pm framework road transport.
Pm master plan for expressways will be formulated 22-23 to facilitate faster movement of people and goods. The national highways network will be expanded by 25,000 kilometers in 2022-23, this will provided for efficient movement of goods through different modes reducing logistics cost and time assisting just-in-time inventory management and in eliminating tedious documentation most importantly this will provide real time information to all stakeholders and improve international competitiveness, open source mobility stack for organizing seamless travel passengers will also be facilitated.
>>>Union Budget 2022: Explained in chart…
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