

New Delhi: Union Finance Minister Nirmala Sitharaman today presented the Union Budget 2022-23. On Monday, the Finance Minister tabled this year’s Economic Survey, which was centred around the theme of the “Agile approach.”
Below is the Full Speech of Union Finance Minister Nirmala Sitharaman’s Budget Speech 2022-2023:
Introduction
PM GatiShakti
PM GatiShakti National Master Plan
Road Transport
Seamless Multimodal Movement of Goods and People
Multimodal Logistics Parks
Railways
Mass Urban Transport including Connectivity to Railways
Parvatmala: National Ropeways Development Programme
Capacity Building for Infrastructure Projects
Inclusive Development
Agriculture
Ken Betwa project and Other River Linking Projects
Food Processing
MSME
Skill Development
Universalization of Quality Education
Digital University
Ayushman Bharat Digital Mission
National Tele Mental Health Programme
Mission Shakti, Mission Vatsalya, SakshamAnganwadi&Poshan 2.0
HarGhar, Nal Se Jal
Housing for All
Prime Minister’s Development Initiative for North East Region (PM-DevINE)
Aspirational Blocks Programme
Vibrant Villages Programme
Anytime – Anywhere Post Office Savings
Digital Banking
Digital Payments
Productivity Enhancement & Investment, Sunrise Opportunities, Energy Transition, and Climate Action
Productivity Enhancement & Investment
Ease of Doing Business 2.0 & Ease of Living
Green Clearances
e-Passport
Urban Development
Urban Planning Support to States
Clean & Sustainable Mobility
Battery Swapping Policy
Land Records Management
Insolvency and Bankruptcy Code
Accelerated Corporate Exit
Government Procurement
AVGC Promotion Task Force
Telecom Sector
Export Promotion
AtmaNirbharta in Defence
Sunrise Opportunities
Energy Transition and Climate Action
Solar Power
Circular Economy
Transition to Carbon Neutral Economy
Financing of Investments
Public Capital Investment
Effective Capital Expenditure
Green Bonds
GIFT-IFSC
Infrastructure Status
Venture Capital and Private Equity Investment
Blended Finance
Financial Viability of Infrastructure Projects
Digital Rupee
Financial Assistance to States for Capital Investment
Fiscal Management
I will, now, move to Part B of my speech.
PART B
Direct Tax
दापयित्वाकरंधर्म्यंराष्ट्रंनित्यंयथाविधि।
अशेषान्कल्पयेद्राजायोगक्षेमानतन्द्रितः॥११॥
dāpayitvākaraṃdharmyaṃrāṣṭraṃnityaṃyathāvidhi |
aśeṣānkalpayedrājāyogakṣemānatandritaḥ ||
“The king must make arrangements for Yogakshema (welfare) of the populace by way of abandoning any laxity and by governing the state in line with Dharma, along with collecting taxes which are in consonance with the Dharma.”
Mahabharat, Shanti ParvaAdhyaya. 72. Shlok 11
Introducing new ‘Updated return’
Reduced Alternate minimum tax rate and Surcharge for Cooperatives
Tax relief to persons with disability
Parity between employees of State and Central government
Incentives for Start-ups
Incentives for newly incorporated manufacturing entities under concessional tax regime
Scheme for taxation of virtual digital assets
Litigation management to avoid repetitive appeals by the Department
Tax incentives to IFSC
Clarification in relation to ‘Health and Education cess’ as business expenditure
Deterrence against tax-evasion:
Rationalizing TDS Provisions
Indirect taxes
Remarkable progress in GST:
Special Economic Zones:
Customs Reformsand duty rate changes
Project imports and capital goods
Review of customs exemptions and tariff simplification
Electronics
Gems and Jewellery
Chemicals:
MSME
Exports
Tariff measure to encourage blending of fuel
Annex to Part A of Budget Speech
Annexure 1
(Refer Para 57)
INITIAL LIST OF PROJECTS UNDER PM DevINE
S. No. | Name of the Project | Total tentative cost
(` in crore) |
1. | Establishment of Dedicated Services for the Management of Paediatric and Adult Haemotolymphoid Cancers in North East India, Guwahati (Multi-State) | 129 |
2. | NECTAR Livelihood Improvement Project (Multi-State) | 67 |
3. | Promoting Scientific Organic Agriculture in North East Indian (Multi-State) | 45 |
4. | Construction of Aizawl By-pass on Western Side | 500 |
5. | Gap funding for Passenger Ropeway system for Pelling to Sanga-Choeling in West Sikkim | 64 |
6. | Gap funding for Eco-friendly Ropeway (Cable Car) from Dhapper to Bhaleydhunga in South Sikkim | 58 |
7. | Pilot Project for Construction of Bamboo Link Road at Different Locations in Various Districts in the State of Mizoram | 100 |
8. | Others (to be identified) | 537 |
Total | 1500 |
Annexure 2
Statement of Extra Budgetary Resources (EBRs) (Govt. fully serviced bonds, NSSF loan and other resources) | ||||||||||
(In ` crores) | ||||||||||
Part-A – EBRs mobilised through issue of Govt. fully serviced bonds | ||||||||||
Demand No. |
Name of the Ministry/Department and Name of the Scheme | 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | 2021-22 | 2021-22 | 2022-23 | |
Actuals | Actuals | Actuals | Actuals | Actuals | BE | RE | BE | |||
26 | Department of Higher Education |
751.80
751.80 |
NIL |
|||||||
Revitalising Infrastructure and Systems in Education (RISE) | — | — | — | — | — | |||||
46 | Department of Health & Family Welfare | |||||||||
PradhanMantriSwasthyaSurakshaYojana | — | — | — | — | — | |||||
60 | Ministry of Housing & Urban Affairs | |||||||||
PradhanMantriAwasYojana (PMAY) – Urban | — | — | 20000.00 | — | — | |||||
62 | Department of Water Resources, River Development & Ganga Rejuvenation | |||||||||
(i) Polavaram Irrigation Project | — | — | 1400.00 | 1850.00 | 2243.20 | |||||
(ii) PradhanMantriKrishiSinchaiYojana (Accelerated Irrigation Benefits Programme & other Projects) | 2187.00 | 3105.00 | 5493.40 | 1963.30 | 1922.10 | |||||
63 | Department of Drinking Water & Sanitation | |||||||||
(i) Swachh Bharat Mission (Rural)
(ii) JalJeevan Mission/National Rural Drinking Water Programme |
—
— |
—
— |
8698.20
— |
3600.00
— |
—-
— |
NIL | ||||
71 | Ministry of New & Renewable Energy | |||||||||
(i) Grid Interactive Renewable Power, Off-Grid/ Distributed & Decentralized Renewable Power | 1640.00
|
—
|
—
|
—
|
— | |||||
(ii) PradhanMantri-KisanUrjaSanrakshanEvamUtthanMahabhiyan (PM-KUSUM) | — | — | — | — | — | |||||
78 | Ministry of Ports, Shipping and Waterways | |||||||||
Inland Waterways Authority of India (IWAI) Projects | 340.00 | 660.00 | — | —- | — | |||||
79 | Ministry of Power | |||||||||
(i) DeenDayalUpadhyaya Gram JyotiYojana/SAUBHAGYA | 5000.00 | 4000.00 | 13827.00 | 3782.00 | 2500.00 | |||||
(ii) Power System Development Fund Projects | — | 5504.70 | — | — | ||||||
87 | Department of Rural Development | |||||||||
PradhanMantriAwasYojana (PMAY) – Rural | — | 7330.00 | 10678.80 | 10811 | 19999.80 | |||||
Total | 9167.00 | 15095.00 | 65602.10 | 22006.30 | 26665.10 | |||||
Part-B – Financial support extended through loans from NSSF |
(In ` crores) |
Sl. No. |
Name of the Ministry/Department/
Name of the Entity |
2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | 2021-22 | 2021-22 | 2022-23 |
Actuals | Actuals | Actuals | Actuals | Actuals | BE | RE | BE | ||
1 | Department of Food & Public Distribution | ||||||||
Food Corporation of India | 70000.00 | 65000.00 | 97000.00 | 110000.00 | 84636.00 | — | |||
2 | Ministry of Housing & Urban Affairs | ||||||||
Building Materials & Technology Promotion Council | — | 8000.00 | — | 15000.00 | 10000.00 | — | |||
3 | Department of Fertilizers | NIL | NIL | ||||||
Metals & Minerals Trading Corporation | — | — | — | 1310.00 | — | ||||
4 | Support to other public agencies (to meet requirement for additional resources, if any, under some specific scheme/project) | 30000.00 | |||||||
Total | 70000.00 | 73000.00 | 97000.00 | 126310.00 | 94636.00 | 30000.00 | |||
Grand Total (A+B) | 79167.00 | 88095.00 | 162602.10 | 148316.30 | 121301.10 | 30000.00 | 751.80 |
Notes: