Union Budget 2022-23 Analysis

Budget Highlights

-The Budget 2022 states that India’s economic growth is estimated at 9.2% to be the highest among all large economies.

-60 lakh new jobs are to be created under the productivity linked incentive scheme in 14 sectors.

-Entering Amrit Kaal, the 25 year-long lead up to India @100, the budget provides an impetus for growth along with four priorities:

1. PM GatiShakti
2. Inclusive Development
3. Productivity Enhancement & Investment, Sunrise opportunities, Energy Transition, and Climate Action.
4. Financing of investments.

What are Sunrise Oppurtunities means?

Sunrise Opportunities means use of  Artificial Intelligence, Geospatial Systems and Drones, Semiconductor and its ecosystem, Space Economy, Genomics and Pharmaceuticals, Green Energy, and Clean Mobility Systems have immense potential to assist sustainable development at scale and modernize the country.

Total Expenditure/Receipts-

The total expenditure in 2022-23 is estimated at Rs. 39.45 lakh crore, while the

The total receipts other than borrowings are estimated at Rs. 22.84 lakh crore.

What is 'Amrit kaal'?

-The Union Budget 2022-23 seeks to lay foundation & give blueprint of economy over ‘Amrit Kal’ of next  25 years - from India at 75 to India at 100.

I-n 2021 during the 75th Independence Day celebrations, PM Modi had unveiled a new roadmap for the country for the next 25 years, and termed it as 'amrit kaal.'

-Amrit kal aims at achieving  the best in every field, making it imperative for everyone to make 'prayas' for this.

-The purpose of 'amrit kaal is to better the lives of citizens, lessen the developmental divide between villages and cities, and reduce government interference in public life.

-Minimum government and maximum governance

-Trust-based governance is the planned theme during 'amrit kaal' of next 25 years – from India at 75 to India at 100,”

The term 'amrit kaal' come from?

The term comes from vedic astrology, where 'amrit kaal' is a critical time slot where the gate of greater pleasure is opened for the inhuman, angels and human beings. It is considered to be the best and most and most auspicious time to start any new task. 

Deficits-

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