Download Union Budget 2022 Highlights and more Summaries Agronomy in PDF only on Docsity! 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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DEFICIT/ EXPENDITURE • Proposes fiscal deficit of 4.5% of GDP by 2025/26 • Projects fiscal deficit of 6.4% of GDP in 2022/23 • 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 FY23 • 50 year interest free loans over and above normal borrowing allocated to states INFRASTRUCTURE • 5G spectrum auctions to be conducted in 2022 • Scheme for design-led manufacturing for 5G will be part of production-linked scheme • To award contracts to lay optical fibre in rural areas, completion in 2025 • 480 billion rupees set aside for affordable housing in 2022/23 • To allocate additional 195 billion rupees for production-linked incentives towards solar equipment manufacturing • Rs 60,000 crore allocated to cover 3.8 crore households for tap water. • 100% of 1.5 lakh Post Offices to come on core banking system to enable inter- operability and financial inclusion • It is proposed to set up 75 digital banking units in 75 districts by scheduled commercial banks • To enable affordable broadband services, 5% of annual collections under universal service obligations to provide R&D and commercialisation of communication facilities. 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 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 1.99 lakhcr • MINISTRY OF CONSUMER AFFAIRS, FOOD AND PUBLIC DISTRIBUTION 2.18 lakh cr • MINISTRY OF DEFENCE 5.25 lakh cr 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 COSTLIER U m b r e ll a Imitatio n Jeweller y Single or multiple loudspeakers Headphones and earphones Smart meters Solar cells Solar modules X-ray machines Parts of electronic toys Camera lens for cellular mobile phone Cut and polished diamonds Asafoetida Cocoa beans Methyl alcohol Acetic acid fr o z e n s q u i d s cheaper
