Thread by @PIB_India

📡LIVE NOW📡

Finance Minister @nsitharaman is presenting the Union Budget 2022-23 in Parliament

#AatmanirbharBharatKaBudget #Budget2022

Watch here📺 twitter.com/i/broadcasts/1…

Union Finance Minister @nsitharaman rises to present #Budget2022 in Parliament

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#AatmanirbharBharatKaBudget

FM @nsitharaman begins presentation of #Budget2022 by expressing empathy with those who had to bear adverse health and economic affects of #COVID19 #Pandemic

Overall sharp rebound and recovery of the economy is reflective of 🇮🇳India's strong resilience

India's economic growth in current year is estimated to be 9.2%, highest among all large economies

- FM @nsitharaman presenting #Budget2022

LIVE Now

During Amrit Kaal, our government aims to achieve the vision for India@100 set out by the Prime Minister in his Independence Day Address

- FM @nsitharaman
#Budget2022

#LIVE Now

We aim to achieve this through,
Macroeconomic growth focus + microeconomic welfare focus
Promoting #Digital economy, FinTech, Tech enabled devt., #EnergyTransition, #ClimateAction
Virtual cycle starting with public investment, crowding in pvt. invest.
- FM

https://twitter.com/PIB_India/status/1488386126511411205?s=20&t=OmKlOareTmbB_9_jWDM4oA

#Budget2022 seeks to lay the foundation to steer the economy over Amrit Kaal of next 25 years, from India at 75 to India at 100, continuing to build on the vision of #Budget2021

- FM @nsitharaman

#AatmanirbharBharatKaBudget

Strengthening of health infra, speedy #Vaccination programme implementation and nationwide resilient response to current wave of #COVID19 #Pandemic are evident to all

- FM @nsitharaman presenting #Budget2022

#AatmanirbharBharatKaBudget

Production Linked Incentive (PLI) Scheme for achieving #AatmaNirbharBharat has received excellent response, with potential to create 60 lakh new jobs and additional production of 30 lakh crore during next 5⃣years

- FM @nsitharaman

#Budget2022
#AatmanirbharBharatKaBudget

Towards implementing new Public Sector Enterprise (PSE) Policy, strategic transfer of @airindiain has been completed

Strategic Partner for Neelanchal Ispat Nigam has been selected, public issue of LIC expected shortly, others in process for 2022-23

#Budget2022

National Bank for Infrastructure Development, National Asset Reconstruction Company have commenced activities

#Budget2021 had provided sharp increase in provision for public investment

#EconomicRecovery is continuing to benefit from the multiplier effect of investment

- FM

#Budget2022 lays parallel track of futuristic and inclusive blueprint for Amrit Kaal

Big public investment for modern infra readying for India at 100, guided by PM Gati Shakti

- FM @nsitharaman
#AatmaNirbharBharatKaBudget

PM Gati Shakti is driven by 7 engines: roads, railways, airports, ports, mass transport, waterways. logistics infra

All 7 engines will pull forward the #Economy in unison

Supported by energy transmission, IT communciation, bulk water and sewerage and social infra

#Budget2022

#Budget2022
Projects in National #Infrastructure Pipeline which pertain to 7 engines will be aligned with PM Gati Shakti Framework

Touchstone of master plan will be world class modern #Infra, logistics synergy among different modes of movement and location of projects

- FM

#PMGatiShakti 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 crore to be mobilized to complement public resources

#Budget2022
#AatmaNirbharBharatKaBudget

Data exchange among all-mode operators to be brought on Unified #Logistics Interface Platform, designed for API will enable,

Efficient movement of goods
Reduce logistics costs and time
Assist Just In Time inventory management
Eliminate tedious documentation

#Budget2022

Contracts for implementation of Multimodal #Logistics Parks at 4 locations to be awarded in 2022-23, in PPP Mode

Indian #Railways to develop new products and efficient logistics services for small #Farmers, small & medium enterprises

- FM @nsitharaman
#Budget2022

One Station One Product to be popularized to help local #Businesses and supply chains

- FM @nsitharaman

#Budget2022
#AatmaNirbharBharatKaBudget

https://twitter.com/PIB_India/status/1488391558835875840?s=20&t=OmKlOareTmbB_9_jWDM4oA

2,000 km of #Rail network to be brought under the indigenous world-class technology KAWACH, for safety and capacity augmentation

400 new generation Vande Bharat🚃trains with better #EnergyEfficiency and passenger riding experience to be manufactured in next 3⃣years

#Budget2022

National Ropeways Development Programme to be taken up in PPP, to improve connectivity, besides promoting #Tourism

8 ropeway projects for 60 km to be awarded in 2022-23

As preferred ecologically sustainable alternative to conventional roads in difficult areas

#Budget2022

Chemical-free #Natural farming to be promoted throughout the country, with focus on farmers' lands in 5-km-wide corridors along the river #Ganga in the first stage

#Budget2022
#AatmaNirbharBharatKaBudget
@AgriGoI

Rationalized and comprehensive scheme to increase domestic production of oil seeds to be implemented, to 📉reduce dependence on import of oil seeds

- FM @nsitharaman

#Budget2022
#AatmaNirbharBharatKaBudget
@AgriGoI @icarindia

Scheme in PPP mode to be introduced, for delivery of digital and hi-tech services to #Farmers, with involvement of public sector research and extension institutions and stakeholders of agri value chains

- @nsitharaman

#Budget2022
#AatmaNirbharBharatKaBudget
@AgriGoI @icarindia

Use of Kisan Drones to be promoted for crop assessment, #Digitization of land records, spraying of insecticides and nutrients

- @nsitharaman

#Budget2022
#AatmaNirbharBharatKaBudget
@AgriGoI @icarindia

Fund to be facilitated through NABARD to finance #Startups for #Agriculture and rural enterprise, relevant for farm produce value chain

Startups will support FPOs, provide tech to #Farmers

- @nsitharaman

#Budget2022
#AatmaNirbharBharatKaBudget
@startupindia

#Budget2022
Implementation of Ken Betwa Linking project at est. cost of Rs. 44,605 Cr. to be taken up:
✅Irrigation benefits to 9.0 lakh hectare farm land
✅Drinking water to 62 lakh people
✅103 MW hydro power
✅27 MW solar power generation

Rs. 1,400 crore in 2022-23 allocated

Emergency Credit Line Guarantee, which has provided additional credit to MSMEs, extended till March '23

Guarantee cover to be expanded by Rs. 50,000 Cr. to a total cover of Rs. 5 lakh crores

Additional amount earmarked exclusively for hospitality, related sectors

#Budget2022

UDYAM, e-SHRAM, National Career Service (NCS), ASEEM portals to be interlinked, scope widened

Will now perform with live organic databases with G2C, B2C, B2B, relating to credit facilitation, recruitment

To formalize economy and create #JobOpportunities for all

#Budget2022

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

#Budget2022
#AatmaNirbharBharatKaBudget

Raising and Accelerating #MSME Performance (RAMP) with outlay of Rs. 6,000 crore over 5⃣ years, to be rolled out

To enable MSME sector to become more efficient, resilient and competitive

#Budget2022
#AatmaNirbharBharatKaBudget
@minmsme

National Skill Qualification Framework to be aligned with dynamic industry needs

Digital Ecosystem for Skilling & Livelihood e-portal to be launched, to enable citizens to skill, reskill, upskill

Will enable discovery of relevant jobs, entrepreneurial opportunities

#Budget2022

One Class One 📺TV Channel programme of PM eVidya to be expanded from 12 to 200 TV channels

To enable all states to provide supplementary education in regional languages, to children in classes 1 - 12

- FM

#Budget2022
#AatmaNirbharBharatKaBudget
@EduMinOfIndia

#Digital University to be set up to provide access to students across country, to world class quality universal education, with personalized learning experience

University to be built on a network hub and spoke model, with collaboration of best public Universities

#Budget2022

Open platform for National Digital Health Ecosystem to be rolled out

#Digital registries of #Health providers, health facilities, unique Health IDs and consent framework, universal access to health facilities

#Budget2022
#AatmaNirbharBharatKaBudget
@_DigitalIndia @MoHFW_INDIA

National Tele Mental Health Programme to be launched

With network of 23 #MentalHealth centres of excellence, with @mheduNIMHANS being nodal centre, support being provided by @IIITB_official

#Budget2022
#AatmaNirbharBharatKaBudget
@_DigitalIndia @MoHFW_INDIA

Rs. 60,000 crore allocated to provide tap water connections to 3.8 crore households in 2022-23

-FM @nsitharaman presents #Budget2022
#AatmaNirbharBharatKaBudget
@jaljeevan_

A new scheme ➡️Prime Minister's Development Initiative for #NorthEast to be implemented through North Eastern Council

To fund #Infrastructure in the spirit of #PMGatiShakti, social development projects, based on felt needs of the region

#Budget2022
#AatmaNirbharBharatKaBudget

Prime Minister's Development Initiative for the North East to be implemented through North Eastern Council

Initial allocation of Rs. 1,500 crore to be made for this scheme

#Budget2022

https://twitter.com/PIB_India/status/1488401302866464770?s=20&t=OmKlOareTmbB_9_jWDM4oA

95% of 112 Aspirational Districts have made significant progress in key sectors

In 2022-23, programme will focus on blocks in districts where progress is lagging

- FM @nsitharaman

#Budget2022
#AatmaNirbharBharatKaBudget

A new➡️Vibrant Villages Programme to be introduced

To bring devt. gains to villages on the northern border, with limited connectivity, infrastructure, sparse population

Activities to include construction of village infra, roads, support for livelihood

#Budget2022
@MoRD_GOI

100% of 1.5 lak post offices to come under Core Banking System in 2022

Enables financial inclusion, access to accounts through net/mobile banking, ATMs, online transfer of funds bwn post office A/c & bank A/c

To be helpful to #Farmers, senior citizens in rural areas
#Budget2022

75 #DigitalBanking Units to be set up in 75 districts, by scheduled commercial banks

To provide a further thrust to digital banking and financial innovation

#Budget2022
#AatmaNirbharBharatKaBudget

For Amrit Kaal, next phase Ease of Doing Business 2.0 and Ease of Living to be launched

New phase to be guided by
Active involvement of states
#Digitization of manual processes
Integration of central & state level systems
Single point for citizen services

#Budget2022

Scope of PARIVESH single window portal for🟢green clearances to be expanded

To provide info to applicants based on location of units, specific approvals ➡️will enable application for all approvals through single form and tracking through centralized system

#Budget2022
@moefcc

Issue of e-passports using embedded chip and futuristic tech to be rolled out in 2022-23,

to enhance convenience for citizens for #Overseas #Travel

#Budget2022
#AatmaNirbharBharatKaBudget

High Level Committee of urban planners, urban economists and institutions to be formed to provide recommendations on Urban Sector Policies, capacity building, planning, implementation and governance

#Budget2022
#AatmaNirbharBharatKaBudget

@MoHUA_India

Up to 5⃣ existing #Academic institutions to be designated as 'Centres of Excellence',

to develop 🇮🇳India-specific knowledge in #UrbanPlanning, design and deliver training

Each of these institutes to be given endowment fund of Rs. 250 Crore each

#Budget2022
@EduMinOfIndia

'Battery Swapping Policy' to be brought out and interoperability standards to be formulated,

considering space constraints in urban areas, to set up battery charging stations at scale

#Budget2022
#AatmaNirbharBharatKaBudget

States will be encouraged to adopt Unique Land Parcel Identification Number to facilitate IT-based management of land records

- FM @nsitharaman presents #Budget2022
#AatmaNirbharBharatKaBudget

Adoption of integration with National Generic Document Registration System with 'One Nation One Registration' Software to be promoted for uniform anywhere registration of deeds and documents

#Budget2022
#AatmaNirbharBharatKaBudget

https://twitter.com/PIB_India/status/1488406950521892866?s=20&t=OmKlOareTmbB_9_jWDM4oA

'Centre for Processing Accelerated Corporate Exit' to be set up

to facilitate and speed up voluntary winding up of companies from the currently required 2⃣ years to < than 6⃣ months

#Budget2022
#AatmaNirbharBharatKaBudget

A complete paperless end-to-end online e-bill system to be launched for use by all Central Ministries for their procurement,

To enhance transparency & reduce delays in payments

Will enable online submission of digitally signed bills, tracking claims from anywhere

#Budget2022

#Animation Visual Effects, #Gaming and Comic Promotion Taskforce to be set up,

to recommend ways to realize potential of AVGC sector and serve markets and global demand

#Budget2022
#AatmaNirbharBharatKaBudget

@GoI_MeitY @DoT_India

Required #Spectrum auctions to be conducted in 2022

To facilitate roll-out of #5G mobile services in 2022-23 by private #Telecom providers

#Budget2022
#AatmaNirbharBharatKaBudget

@GoI_MeitY @DoT_India

Scheme for design-led manufacturing to build a strong #5G ecosystem as part of Production Linked Incentive (PLI) Scheme

#Budget2022
#AatmaNirbharBharatKaBudget

@GoI_MeitY @DoT_India

https://twitter.com/PIB_India/status/1488408997782687747?s=20&t=OmKlOareTmbB_9_jWDM4oA

#Budget2022

5% of annual collection under 'Universal Service Obligation Fund' to be allocated,

to enable affordable #Broadband and mobile services in rural and remote areas

#AatmaNirbharBharatKaBudget
@GoI_MeitY @DoT_India

Our vision is all villages & their residents should have same access to e-services as urban areas

Contracts for laying optical fibres in all villages to be awarded under 'Bharat Net project' in 2022, 2023

Completion expected in 2025

#Budget2022
#AatmaNirbharBharatKaBudget

Special Economic Zones Act to be replaced with new law,

which will enable states to be partners in development of enterprises & service hubs,

Will cover all large existing, new industrial hubs to optimally utilize available infra, enhance #Export competitiveness

#Budget2022

68% of defence capital procurement budget in 2022-23 to be earmarked for domestic industry, 🔼up from 58% in 2021-22

#Defence R&D to be opened to industry, #Startups and #Academia, with 25% of R&D budget earmarked

#Budget2022
#AatmaNirbharBharatKaBudget

@DefenceMinIndia

To facilitate domestic manufacturing for ambitious goal of 280 GW #SolarPower by 2030,

additional allocation of Rs. 19,500 Cr. to be made for PLI

for manufacturing of high efficiency modules, priority to fully integrate units from polysilicon to solar PV modules

#Budget2022

Four pilot projects for 'Coal gasification and conversion of coal into chemicals', required by the industry, to be set up

to evolve technical and financial viability

#Budget2022
#AatmaNirbharBharatKaBudget
@CoalMinistry @CoalIndiaHQ

Capital expenditure outlay being stepped up sharply by ⬆️35.4% from Rs. 5.54 lakh crore in CY to Rs. 7.50 lakh crore in 2022-23

Outlay in 2022-23 will be 2.9% of the GDP

#Budget2022
#AatmaNirbharBharatKaBudget

Taken together with provision for creation of capital assets through grants & aids to states,

Effective capital expenditure of central govt. is estimated at Rs. 10.68 lakh crore in 2022-23, which will be around 4.1% of GDP

- FM @nsitharaman

#Budget2022

https://twitter.com/PIB_India/status/1488412639990808577?s=20&t=OmKlOareTmbB_9_jWDM4oA

'Sovereign Green Bonds' to be issued for mobilizing resources for🟢green #Infrastructure

Proceeds will be deployed in public sector projects which will help reduce carbon intensity of the economy

#Budget2022
#AatmaNirbharBharatKaBudget

World-class foreign #Universities to be allowed in GIFT IFSC

to offer courses in fin. mgt., fintech, engineering, science, mathematics, free from domestic regulations,

except those by @IFSCA_Official, to facilitate availability of high-end human resources

#Budget2022

#DigitalRupee using #Blockchain and other technologies to be introduced, to be issued by @RBI , starting in 2022-23

Will give boost to #DigitalEconomy, lead to more efficient, cheaper currency management system

- FM

#Budget2022
#DigitalCurrency

Outlay for 'Scheme for Financial Assistance to States for Capital Investment' being enhanced from Rs. 10,000 Cr. in Budget Estimates to Rs. 15,000 crore in Revised Estimates in Current Year

#Budget2022
#AatmaNirbharBharatKaBudget

For 2022-23, allocation is Rs. 1 lakh crore,

to assist states in catalyzing investments in the economy

These 50-year interest free loans are over and above normal borrowings to states

#Budget2022

https://twitter.com/PIB_India/status/1488415951548989440?s=20&t=VdVLqyjY1nO5Uh403csljQ

In accordance with recommendations of @15thFinCom,

in 2022-23, states will be allowed fiscal deficit of 4% of GSDP,

of which 0.5% will be tied to #PowerSector reforms, as per conditions communicated earlier

#Budget2022
#AatmaNirbharBharatKaBudget
@MinOfPower

Revised Fiscal Deficit in CY is estimated at 6.9% of GDP against 6.8% projected in Budget Estimates

Fiscal Deficit in 2022-23 is estimated at 6.4% of GDP, consistent with fiscal consolidation announced last year to reach a fiscal deficit level below 4.5% by 2025-26

#Budget2022

New provision to be introduced, permitting #Taxpayers to file 'Updated return' on payment of additional tax,

enabling corrections or omissions in income estimation.

Updated return can be filed within 2⃣years from the end of the relevant assessment year

#Budget2022

To provide level playing field bwn co-operative societies and companies, Alternate Minimum Tax rate for cooperative societies to be reduced frm 18.5% to ⬇️15%

Surcharge to be reduced frm 12% to⬇️7% for those with total income more than Rs. 1 crore up to Rs. 10 crore
#Budget2022

Payment of annuity and lump sum amount to differently abled dependent will now be allowed also during the lifetime of parents/guardians, i.e., on parents/ guardians attaining the age of 60 years

#Budget2022
#AatmaNirbharBharatKaBudget
@socialpwds @MSJEGOI

To provide equal treatment to both Central & State Govt. employees,

Tax deduction limit on employer’s contribution to National Pension System (NPS) account of State Govt. employees to be increased from 10% to⬆️14%,

bringing them at par with central govt. employees
#Budget2022

For #Taxation of virtual #Digital assets, any income from transfer of any virtual digital asset shall be taxed at the rate of 30%

#Budget2022
#AatmaNirbharBharatKaBudget

Reforms in Customs Administration of SEZs to be introduced

To be fully IT driven and function on Customs National Portal with focus on higher facilitation

This will considerably ease doing business by SEZ units

To be implemented by 30 Sep 2022
#Budget2022

Concessional rates in capital goods, project imports to be phased out gradually

A moderate tariff of 7.5% to be applied, to promote growth of domestic capital goods sector

Certain exemptions for advanced machineries not
manufactured within the country will continue

#Budget2022

Customs duty on cut and polished diamonds and gemstones is being reduced ⬇️to 5%

Simply sawn diamond to have nil customs duty

To facilitate export of jewellery through e-commerce, a simplified regulatory framework to be implemented by June this year
#Budget2022

Customs duty rates will be calibrated to facilitate domestic manufacturing of wearable devices, hearable devices and electronic smart meters, and to enable domestic manufacturing of high growth #Electronic items

#Budget2022
#AatmanirbharBharatKaBudget

To incentivize #Exports, exemptions being provided on,

embellishment, trimming, fasteners, buttons, zipper, lining material, specified leather, furniture fittings, packaging box that may be needed by bonafide exporters of handicrafts, textiles, leather garments etc.
#Budget2022

To encourage the efforts for blending of #Fuel, unblended fuel to attract an additional differential excise duty of Rs. 2/litre from October 1, 2022

#Budget2022
#AatmanirbharBharatKaBudget

Gross #GST collection for Jan 2022 is Rs. 1,40,986 crores - highest since inception of GST

This has been possible due to rapid #EconomicRecovery post #COVID19, as well as due to various policy, administrative measures taken by Centre & states

- FM informs Parliament
#Budget2022