Budget 2022: Top 10 Takeaways
Presenting Budget 2022 in Parliament on Monday, Finance Minister Nirmala Sitharaman said that there is a possibility of an increase of 9.27 in the financial year 2022-23. He also said that the Union Budget seeks to lay the foundation for the next 25 years of 'Amrit Kaal' and design austerity - India from 75 to 100. Within days, with options in five countries, experts projected a range of populist welfare measures. Targeting producers and low-income households.
Takeaways for the Auto Sector
- Battery as a Service to make electric vehicles more accessible.
- Budget 2022 25000 km trace extension; 20000 crores allocated.
- Roads out of 7 machines of PM Gati Shakti Master Growth Plan.
- In the coming 3 times, 400 new generations Vande Bharat high-speed trains will be brought with better effectiveness.
- 100 PM Gati Shakti Cargo Outstation to be developed in the coming 3 times
- The metro system will be standardized keeping in mind the Indian conditions and requirements.
- The PLI scheme has been extended to the solar organization for solar power modules with increased efficiency. With this, a better-charging structure can be prepared on roadways and metros.
- Indian Railways, which has been majorly affected since the onset of the COVID-19 pandemic, has been given some relief with increased expenditure. Sitharaman said that the construction and operation of 400 Vande Bharat trains will be started in the coming three times.
- Finance Minister Nirmala Sitharaman has plant space to conduct financial impulse operations in 2021-22. It has increased it by 34.46 percent to Rs 5.54 lakh crore in 2021-22 as compared to the capital expenditure of Rs 4.12 lakh crore in the Revised Estimate (Shaft) for 2020-21.
- The rebirth of Development Finance Institutions (DFIs) The idea was completely scrapped before DFIs, including IDBI and ICICI, turned into banks. A new DFI with a capital of Rs. crores for lending to Long Gravity Systems. It will have statutory backing but will be managed professionally. Within three times the lending portfolio of 5 lakh crores.