Budget leading to development boom in the country; major projects in agriculture, transport and banking sectors

NEW DELHI: Union Finance Minister Nirmala Sitharaman presented the general budget for the financial year 2022-2023 in Parliament. The budget was presented after approved by the union cabinet. The speaker said a digital budget was introduced. Nirmala Sitharaman announced major projects in the fourth budget presented.

The budget presentation started referring to the crisis created by the pandemic. The minister said the country was ready to face the challenges of Covid. The main goal of the government is housing, water and energy for all. The economy of the country is improving. She said India's growth was better than other countries. Aatmanirbhar Bharat has received excellent response. This fiscal year will see a growth of 9.2 per cent. She said the budget was a development document for the next 25 years. The general budget 2022 focuses on four areas. P M Gathishakthi Project, Comprehensive Development, Product Development and Investment Promotion. She said it was the highest revenue earning time since the introduction of GST. The minister also proposed to set up a digital university to provide education that will be built on a hub and spoke model.

Major projects
An amount of 1500 crore will be allotted to North Eastern States
The prices of electronic products and gems will go down
The IT return can be renewed and filed within two years
New system for income tax return
Drinking water in 3.8 crore households
One lakh crore financial assistance to states
Optic fiber cable in all villages of the country
Three schemes for women and child welfare
Promotion in the field of animation and visual effects
5G spectrum auction this year
One country one registration scheme for industrial development
Chip-attached e-passport from this year
80 lakh houses under PM Awas Yojana

National Mental Health Plan coming soon
More amount will be evaluated for the employment guarantee scheme.
The privatization of LIC will not be delayed
Aim for the welfare of youth, women, farmers and backward classes
Two lakh crore for small and medium enterprises
The plan to connect five rivers is ready