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Indian Budget 2022-23

Posted on: February 05, 2022 | Back | Print

Dear Friends,

Greetings from the Indian Embassy!

The Embassy of India (Commercial Wing) is pleased to present you The Union Budget of 2022-23.

As you would be aware, The Union Budget of 2022-23 was presented by Ms. Nirmala Sitharaman, the Union Minister for Finance and Corporate Affairs on February 1, 2022.
The Union Budget aims to complement macroeconomic growth by focusing on all-inclusive microeconomic welfare. Infrastructure emerged as the topmost priority for the Narendra Modi government as the finance minister said that the Budget for 2022-2023 will lay the foundation for economic growth through public investment as Asia's third-largest economy emerges from a pandemic-induced slump.

Key Highlights of Union Budget 2022-23:

  • India's economic growth is predicted to be the highest among all large economies, at 9.2%.
  • Under the productivity-linked incentive scheme (PLI scheme), 6 million new jobs will be created in 14 different industries.
  • PLI Schemes have the potential to generate an additional Rs. 30,00,000 crore (US$ 401.24 billion) in revenue.
  • The 'One Station-One Product' concept will be adopted in the railway sector to assist local businesses and supply chains.
  • The government wants to promote a digital economy, fintech, technology-enabled development, energy transition, and climate action.
  • The Budget encourages growth with the following priorities: PM Gati Shakti, Inclusive Development, Productivity Enhancement and Investments, Sunrise opportunities, Energy Transition, Climate Action, and Financing of Investments as India enters Amrit Kaal, the 25-year countdown to India's 100th independence anniversary.
  • Green Bonds will be issued by the government to raise funds for green infrastructure. The proceeds will be used to fund public-sector programmes that reduce the economy's carbon intensity.
  • The government is pushing the blending of fuel by levying additional differential excise duty on unblended fuel.
  • The government plans to rely on a virtuous cycle starting from private investment, and the help of public capital investment to crowd-in private investment.

India-Union Budget 2022-23

Union Budget 2022-23_MEA


For all details on The Union Budget of 2022-23, you may kindly download an attachment or use the given hyperlink.

We do hope you find this of interest.

With best wishes,

Thanking you!