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The Fiscal Deficit in 2022-23 is estimated at 6.4 per cent of GDP, which is consistent with the broad path of fiscal consolidation announced by me last year to reach a fiscal deficit level below 4.5 per cent by 2025-26
FM announced that the skilling programmes and partnership with the industry will be reoriented to promote continuous skilling avenues, sustainability, and employability. The National Skill Qualification Framework (NSQF) will be aligned with dynamic industry needs.
Nari Shakti has been identified as the harbinger of the countrys bright future and for women-led development during the Amrit Kaal, the 25-year-long leadup to India@100, in the Union Budget presented in the Parliament today by Smt Nirmala Sitharaman, Union Minister of Finance. Hon’ble Prime Minister in his Independence Day address had set-out the vision for India@100.
While highlighting the use of new technology, the Finance Minister said that the use of Kisan Drones will be promoted for crop assessment, digitization of land records, spraying of insecticides, and nutrients.
The Finance Minister announced that in 2022-23, in accordance with the recommendations of the 15th Finance Commission, the States will be allowed a fiscal deficit of 4% of GSDP of which 0.5% will be tied to power sector reforms, for which the conditions have already been communicated in 2021-22.
The outlay for capital expenditure in the Union Budget is being stepped up sharply by 35.4% from Rs. 5.54 lakh crore in the current year to Rs. 7.50 lakh crore in 2022-23 said the Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman during her Budget Speech here in Parliament today.
Acknowledging the immense potential of Sunrise Opportunities, the Union Budget presented in parliament today by Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman, has stated that supportive policies, light-touch regulations, facilitative actions to build domestic capacities, and promotion of research & development will guide the government’s approach.
Union Finance Minister said that Defence R&D will be opened up for industry, startups and academia with 25 per cent of defence R&D budget earmarked. Private industry will be encouraged to take up design and development of military platforms and equipment in collaboration with DRDO and other organizations through SPV model.
Technology has taken a centre-stage for the Health Sector in the General Budget presented in the Parliament by Smt Nirmala Sitharaman, Union Minister of Finance. Two new digitally underpinned Schemes have been announced which indicate the key role that digital technology is playing in expanding the access of health and medical care across the country.
Customs administration of SEZs shall be fully IT driven announced the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman while presenting the Union Budget 2022-23 in the Parliament today. She also said that the Customs National Portal will function with a focus on higher facilitation and with only risk based checks.
