The document summarizes key aspects of the Indian Union Budget for 2022-23. It discusses the focus areas of the budget including inclusive development, productivity enhancement, financing investments, and tax reforms. It outlines economic indicators over time such as GDP growth, savings, and the share of agriculture in the economy. Priorities of the budget include PM GatiShakti, inclusive development through agriculture support and skill development, productivity enhancement, and financing investments through mobilizing resources and blended finance. Direct and indirect tax proposals aim to establish a stable tax regime. Total expenditure for 2022-23 is estimated at Rs. 39.45 lakh crore with a fiscal deficit of 6.4% of GDP.

1. GOVERNMENT OF INDIA
HemantaPhukan
ChandigarhGroup ofCollege
MBA RollNo:-87072 sec:-A

2. According to Article 122 of the Indian
Constitution, the Annual Budget of a year, also
referred to as the annual financial statement, is
a statement of the estimated receipts and
expenditure of government for the particular
year.

3. OVERVIEW OF THE BUDGET
Focus area of the Budget
Inclusive Development
Productivity Enhancement & Development
Financing of Investments
Economy survey
Tax reforms
• Direct Proposals
• Inderict Proposals

4. Year 1948 1972 1997 2022
Gross domestic savings(% of GDP) 9.5 14.1 24.2 31.4
Tax/GDP(%) 2.8 5.1 6.8 7.1
Direct tax/total tax revenues(%) 52.8 17.5 35.2 50
Import cover (months) NA 2.9 6.5 17.8
Agriculture/GDP(%) 54.7 41.2 24.3 16.7
75 year’s of GDP growth..

5. Key theme of this years budget
TheUnionBudgetseekstocomplementmacro-
economiclevelgrowthwithfocusonmicroeconomic
levelallinclusivewelfare.

6. India’s economic growth estimated at 9.2% to be the highest
among all large economies.
60 lakh new jobs to be created under the productivity linked
incentive scheme in 14 sectors.
PLI Schemes have the potential to create an additional
production of Rs 30 lakh crore.
Entering Amrit Kaal, the 25 year long lead up to India @100,
the budget provides impetus for growth along four priorities:

7. PM GatiShakti
Inclusive
Development
Productivity
Enhancement and
Investment, Sunrise
Opportunities,
Energy Transition
and climate Action
Financing of
Investments
FOUR
PRIORITIES

8. PM GatiShakti
 The 7 engines thst drive PM GatiShakti are Road, Railways, Airports, Ports, Mass Transport, Waterways
and Logistics Infrastructure.
 Road Transport
 Railways
 Parvatmala
• National Highways Network to be expended by 25000 Km in 2022-23
• Rs 20000 Crore to be mobilized for National Highways Network expansion.
• 2000 Km of railway network to be brought under Kavach, the world class technology and
capacity augmentation in 2022-23.
• 400 new generation Vande Bharat Train to be manufactured during the next three years.
• National Ropeways Development Program, Parvatmala to be taken up on PPP mode.
• Contracts to be awarded in 2022-23 for 8 ropway projects of 60 Km length.

9. Inclusive Development
 Agriculture
 MSME (Micro Small Medium Enterprise)
 Skill Development
• Rs 2.37 lakh crore direct payment to 1.63 crore farmers for procurement of wheat and paddy
.
• Chemical free Natural farming to be promoted throughout the country.
• Udyam, e-shram, NCS and ASEEM portals to be interlinked.
• 130 lakh MSMEs provided additional credit under ECLG (Emergency Credit Linked
Guarantee) Scheme.
• Rs 2 lakh Crore additional credit for Micro and Small Enterprises to be facilitated
under the CGTMSE.
• DESH-Stack e-portal will be launched to empower citizens to skill, reskill or upskill
through on-line training.

10.  Education
 Health
 Housing for All
 Banking
• ‘One class-One TV channel’ programme of PM eVIDYA to be expanded to 200 TV
• Virtual labs and skilling e-labs to be set up.
• High-quality e-content will be developed for delivery through Digital Teachers.
• An open platform for National Digital Health Ecosystem to be rolled out
• National Tele Mental Health Programme for quality mental health counselling and
carer service to be launched.
• Rs 48,000 crore allocated for completion of 80 lakh houses in 2022-23.
• 100 per cent of 1.5 lakh post offices to come on the core banking system.
• Scheduled Commercial Bank to set up 75 Digital Banking Units(DBUs) in 75
districts.

11.  AtmaNirbharat in Defence
 Digital Rupee
 Fiscal Management
• 68% of capital procurement budget earmarked of domestic industry in 2022-23, up
from 58% in 2021-22.
• Introduction of Digital Rupee by the Reserve Bank of India starting 2022-23.
• Budget Estimates 2021-22: Rs 34.83 lakh crore
• Revised Estimates 2021-22: Rs 37.70 lakh crore

12. FINANCING OF INVESTMENT
Public
investment to
continue to
pump prime
private
investment
and demand
in 2022-23
Mobilizing
Resource
Infrastructure
status for Data
Centers and
Energy Storage
System
Measures to aid
investment by
Venture Capital and
Private Equity
Investment
Green Bonds to
mobilise
resources for
green
infrastructure
Blended Finance
for sunrise
sectors

13. DIRECT TAXES
 To take forward the policy of stable and predictable tax regime
 Cooperative societies
 Introducing New ‘Updated return’
• Vision to establish a trustworthy tax regime
• Alternate MinimumTax paid by cooperatives brought down from 18.5% to 15%.
• Surcharge on cooperative societies reduced from 12% to 7%

14. INDIRECT TAXES
 Remarkable progress in GST
 Electronic
 Gems and Jewellery
 Chemicals
• GST revenues are buoyant despite the pandemic – Taxpayers deserve applause for this
growth.
• Customs duty rates to be calibrated to provide a graded rate structure - to facilitate domestic
manufacturing of wearable devices, hearable devices and electronic smart meters.

15. Total expenditure in 2022-23 estimated at Rs 39.45 lakh crore
Total receipts other than borrowing in 2022-23 estimated at Rs 22.48 lakh corer
Fiscal deficit in current year: 6.9% of GDP (against 6.8% in Budget Estimates
Fiscal deficit in 2022-23 estimated at 6.4% of GDP