Budget, Finance Bill

The Finance Bill, 2022-23


Ms Nirmala Sitharaman

Minister of Finance


Union Budget 2022 Highlights


  • Focus on growth and all inclusive welfare.
  • Promoting technology enabled development, energy transition, and climate action.
  • Virtuous cycle starting from private investment, crowded in by public capital investment.


Salient Points ()

PM GatiShakti

Agriculture and Food processing



Inclusive Development

Productivity Enhancement and Investment 

Sunrise Opportunities

Energy Transition and Climate Action

Financing of Investment


Salient Points ()

  • Driven by 7 engines: Roads, Railways, Airports, Ports, Mass Transport, Waterways and Logistics Infrastructure.
  • National master plan aimed at world class modern infrastructure and logistics synergy.

Formulation of master plan for expressway. Completing 25000 km national highways in 2022-23.

  • Unified logistics interface platform allowing data exchange among all mode operators.
  • Open source mobility stack for seamless travel of passengers
  • 4 multimodal logistics parks through PPP to be awarded in 2022-23

  • Integration of postal and railway network facilitating parcel movement.
  • One station one product
  • Extending coverage under Kavach
  • 400 new generation Vande Bharat trains

  • Multimodal connectivity between mass urban transport and railway stations.
  • National ropeway development plan as sustainable alternative to conventional roads.
  • Capacity building for infrastructure projects. 


Salient Points ()

Promoting chemical free natural farming starting with farmers land close to Ganga river.


Promoting post harvest value addition, consumption and branding of milet products.

  • Delivery of digital and hi-tech services to farmers in PPP mode.
  • Use of Kisan drones to aid farmers.

Launching fund with blended capital to finance agriculture start ups.

  • Implementing of Ken Betwa link project benefitting 9.1 lakh hectare farm land.
  • Providing drinking water to 62 lakh people and generating 130 mw power.
  • 5 such projects under implementation.


Salient Points ()

Universalisation of Quality Education

  • One class One TV channel programme to be expanded to 200 channels.
    • Virtual labs and skilling e-labs to promoting critical thinking skills and stimulated learning environment

Universalisation of Quality Education

  • High quality e-content will be delivered through digital teachers.
    • A digital university will be established with world class quality universal education.


Skill Development

Digital ecosystem for skilling and livelihood will be launched to promote online training (DESH-stack-e-portal).

Skill Development

Start ups will be promoted to facilitate drone shakti for drone as a service.


Salient Points ()

National Digital Health Ecosystem will be rolled out.

National Tele Mental Health Programme will be launched for quality counselling

Integrated architecture: Mission Shakti, Mission
Vatsalya, Saksham Anganwadi, and Poshan 2.0 to be launched.

Two lakh Anganwadis to be upgraded to Saksham


Salient Points ()

Har Ghar, Nal Se Jal: 3.8 crore households to be covered in 2022-23.

PM Awas Yojana: 80 lakh houses to be completed in 2022-23.

PM-DevINE: To fund infrastructure and social development based on felt needs of the North East.

Aspirational Blocks Programme: For development of lagging
blocks of aspirational districts

Vibrant Villages Programme: Targeting development of
villages on the Northern Border left out from the development

Digital Banking by Post Offices: 100% of post offices to come on the core banking system.

Digital Payments: Scheduled Commercial Banks to set up 75
Digital Banking Units in 75 districts


  • Interlinking various portals: Udyam, e-shram, NCS & Aseem 
  • Extending ECLGS with focus on hospitality and  related enterprises
  • Raising and Accelerating MSME Performance (RAMP) programme will be rolled out


Salient Points ()

Ease of doing business 2.0

  • Trust based governance
  • Integration of central and state
    level systems through IT bridges
  • Expanding scope of PARIVESH
  • Unique Land Parcel
    Identification Number for IT
    based management of land
  • Establishing C-PACE to
    facilitate voluntary winding up
    of companies
  • End to end online e-Bill System
    and utilising surety bonds in
    government procurement.
  • AVCG promotion task force
  • Support to 5G under PLI scheme
  • Opening up defence R&D for
    industry, startups and academia

Ease of living

  • Issuance of chip embedded ePassports
  • Modernisation of building
    byelaws, implementing Town
    Planning Schemes and Transit
    Oriented Development.
  • Establishing Centres of
    Excellence in urban planning.
  • Providing a battery swapping
    policy as an alternative to
    setting up charging stations in
    urban areas


Salient Points ()

Public investment to
continue to pump prime
private investment and
demand in 2022-23.

Introduction of Digital
Rupee by RBI starting

Mobilizing resources

  • Green Bonds to
    mobilise resources for
    green infrastructure
  • Infrastructure status for
    Data Centres and
    Energy Storage
  • Measures to aid
    investment by Venture
    Capital and Private
    Equity Investment
  • Blended Finance for
    sunrise sectors

Providing greater fiscal space to States

  • Enhanced outlay to Scheme for Financial Assistance to States for Capital Investment
  • For 2022-23 States will be allowed
    a fiscal deficit of 4% of GSDP of
    which 0.5% will be tied to power
    sector reforms



  • Allowing taxpayers to file Updated Return within 2 years for correcting errors
  • Tax relief to persons with disability
  • Reducing Alternate Minimum Tax Rate and Surcharge for Cooperatives from 18.5% to 15%.
  • Extending period of incorporation of eligible startups for providing tax incentives from 3years to 4 years.
  • Income from transfer of virtual assets to be taxed at 30%


  • Customs administration to be fully IT driven in SEZs
  • Phasing out concessional rates in capital goods and project imports gradually and apply a moderate tariff of 7.5%.
  • Review of customs exemptions and tariff simplification
  • Customs duty rates are being calibrated to provide a graded rate structure to facilitate domestic electronics manufacturing
  • Rationalisation of exemptions on implements and tools for agri sector manufactured in India.
  • Extension of customs duty exemption to steel scrap
  • Reduction of duty on certain inputs required for shrimp aquaculture
  • Unblended fuel shall attract additional differential excise duty
Rupee Collection (%)Rupee Allocation (%)
Income Tax - 15%Central sector scheme - 15%
Corporation Tax - 15%Finance commission and other transfers - 10%
Borrowing and other liabilities - 35%States share of taxes and duties - 17%
GST - 16%Interest payments - 20%
Union Excise Duty - 7%Defense - 8%
Non tax revenue - 5%Subsidies - 8%
Non debt capital receipts - 2%Centrally sponsored schemes - 9%
Pensions - 4%
Other expenditure - 9%



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