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Union Budget 2022-23 is a direction setting budget aimed at making India future ready - Shri Piyush Goyal Union Minister for Commerce and Industry, Textiles and Consumer Affairs, Food and Public Distribution, Shri Piyush Goyal today termed the Union Budget 2022-23 as a direction setting budget, a
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FAQ :
Shri Piyush Goyal stated that the Union Budget 2022-23 is a direction-setting budget aimed at making India future-ready and addressing both macro-economic and micro-economic concerns.
The PM Gati Shakti National Plan is a key initiative highlighted in the budget to leverage data and inter-connected national maps to better align infrastructure projects.
The budget provides for enhanced capital spending of Rs 10.5 lakh crores, which is expected to have a multiplier effect of 3-4 times, leading to increased demand and job opportunities.
The budget emphasizes the expansion of broadband connectivity, which has been crucial for India's swift adaptation to remote working during the Covid-19 pandemic and maintaining robust services exports.
India produces the second-highest number of STEM graduates, and the budget aims to encourage India to become a hub for start-ups, R&D, and innovation.
Shri Goyal mentioned that India is working on several FTAs, with the India-UAE FTA completed in 88 days, the India-Australia FTA in advanced stages, and FTAs with the UK and Canada in the pipeline. The GCC also wants to sign an FTA with India.
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