Union Budget 2022: Get all the Highlights of Fund Allocations, Fixed Deadlines and Important Facts in Brief

Union Budget 2022: The Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman has presented the Union Budget 2022-23 in Parliament and now here is all the  facts with highlights regarding the Budget 2022. You can get all the details about the highlights in terms of Fund Allocation, Fixed Deadlines for various projects and and also the important facts for the Union Budget 2022-23 in brief mode. 

Budget 2022: Allocations 

1. 1400 crore outlay for implementation of the Ken – Betwa link project.
2. 2000 Km of railway network to be brought under Kavach, the indigenous world class technology and capacity augmentation in 2022-23.
3. National Highways Network to be expanded by 25000 Km in 2022-23.
4. Rs 20000 Crore to be mobilized for National Highways Network expansion.
5. India’s economic growth estimated at 9.2% to be the highest among all large economies.
6. Rs. 60,000 crore allocated to cover 3.8 crore households in 2022-23 under Har Ghar, Nal se Jal.
7. Rs. 48,000 crore allocated for completion of 80 lakh houses in 2022-23 under PM Awas Yojana.
8. 68% of capital procurement budget earmarked for domestic industry in 2022-23, up from 58% in 2021-22.
9. Customs duty on cut and polished diamonds and gemstones being reduced to 5 per cent

Budget 2022-23: 75 Digital Banking Units to be Setup in 75 Districts

 Budget 2022 Important Facts 

1. The seven engines that drive PM GatiShakti are Roads, Railways, Airports, Ports, Mass Transport, Waterways and Logistics Infrastructure
2. Udyam, e-shram, NCS and ASEEM portals to be interlinked.
3. One class-One TV channel’ programme of PM eVIDYA to be expanded to 200 TV channels.
4. Two lakh anganwadis to be upgraded to Saksham Anganwadis.
5. Vibrant Villages Programme-For development of Border villages with sparse population, limited connectivity and infrastructure on the northern border.
6. 100 per cent of 1.5 lakh post offices to come on the core banking system.
7. Scheduled Commercial Banks to set up 75 Digital Banking Units (DBUs) in 75 districts.
8. Customs duty on umbrellas being raised to 20 per cent

Budget 2022: Target/Deadlines 

1. Additional allocation of Rs. 19,500 crore for Production Linked Incentive for manufacture of high efficiency solar modules to meet the goal of 280 GW of installed solar power by 2030.
2. Introduction of Digital Rupee by the Reserve Bank of India starting 2022-23.
3. Last date for commencement of manufacturing or production under section 115BAB extended by one year i.e. from 31st March, 2023 to 31st March, 2024.
4. Customs Administration of SEZs to be fully IT driven and function on the Customs National Portal – shall be implemented by 30th September 2022.
5. Unblended fuel to attract an additional differential excise duty of Rs 2/ litre from the 1st of October 2022 - to encourage blending of fuel.
6. PM GatiShakti Master Plan for Expressways will be formulated in 2022-23
7. The National Highways network will be expanded by 25,000 km in 2022-23
8. 2023 has been announced as the International Year of Millets