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New Delhi
February 22, 2024
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National

Union Minister Nirmala Sitharaman Presents Budget 2022; New Digital Currency Soon

NB BUREAU
Finance Minister Nirmala Sitharaman is announcing the the Union Budget 2022 today during the ongoing Budget session of the Parliament . This is Sitharaman’s fourth Budget after 2019, 2020 and 2021. Just like last year, this year too Sitharaman ditched the traditional ‘bahi-khata’ and carry a tablet to deliver a paperless budget.

LIVE UPDATES: 

  • 30% tax on transfer of digital virtual asset
  • Indian digital rupee powered by Blockchain to be introduced by RBI in 2022-23, announces FM Sitharaman
  • In a measure to promote AtmaNirbhar Bharat in Defence Sector, 68% of capital procurement budget to be earmarked for domestic industry in 2022-23. Defence R&D to be opened for industry, start ups and academia with 25% of R&D budget earmarked.
  • Passports will be rolled out in 2022-23 for convenience in overseas travel
  • 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
  • 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
  • 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 Bharattrains with better Energy Efficiency and passenger riding experience to be manufactured in next years
  • Contracts for implementation of Multimodal Logistics Parks at 4 locations to be awarded in 2022-23, in PPP Mode
  • 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
  • An open platform for the national digital health ecosystem will be rolled out. It will consist of digital registries of health providers and hence this unique identity consent framework with and universal access to health facilities. The pandemic has accentuated mental health problems and people of all ages to best access to quality mental health counseling and care services. A national tele mental health program will be launched. This will include a network of 23 telemedicine mental health centers of excellence.

For farmers to adopt to natural farming, comprehensive package for participation of State governments & MSMEs to be introduced.
Hospitality services by the small & medium sector are yet to bounce back, therefore, the government has decided to extend the ECGL service for this sector by March 2023 with an increased cover of Rs 50,000
Skilling programs will be reoriented. For skilling, upskilling & reskilling of our youth, Digital DESH e-portal will be launched.
‘One Class One TV Channel’ will be increased from 12 to 200 TV Channels to provide supplementary education in regional languages for class 1-12.
A digital university will be developed to provide access to students for world-class quality education with ISTE Standards.
For mental health counselling, a National Tele Mental Health Program will be launched.

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