The Finance Minister has presented a finely balanced and growth oriented budget under difficult circumstances. The long term vision of the Prime Minister of making India a strong self- reliant $5 trillion economy is imprinted strongly in the direction of the Budget 2022-23.
FM has refrained from the temptation of being populist by not tinkering with direct tax rates and has signalled a long term stability in the tax structure.
The fact that great emphasis is laid on infrastructure development that will be the engine of growth in years to come is a step in the right direction. The integrated approach of infrastructure development through GATISHAKTI is evident in the Budget with a lot of focus on Roads, Railways, Ports, Mass Transport, Waterways and Logistics development. Every one of these will result in employment generation and economic growth.
In the last 5-6 years, the emphasis given by Modiji has borne rich dividends in bringing benefits to the weaker sections of the society and also in developing India into a formidable digital economy. This budget too has continued in that direction. With the provision of fast tracking digitalisation of all the segments of the economy, reflected in the proposals, be it, digitalising 1.5 lakh post offices, trust on digitalising education, healthcare, or setting up of a Digital University and many more.
Providing tap water to every household in the Country by the end of the financial year 2022-23 as proposed will in itself be a milestone achievement of the Government that will make every countryman thank the Prime Minister. With completion of HAR GHAR- NAL SE JAL and the UJWALA missions, the Prime Minister would have liberated all the women in 6 lakh villages from the drudgery and fulltime work of collection of fire wood and drinking water from distant places every day.
The noteworthy step towards Atmanirbhar Bhart is, FM has promised to spend 68% of defense procurement on domestic companies. The Budget also takes forward India’s goal of improving its ranking every year in ease of doing business through reduction in official bottlenecks and digitalisation.
For cooperatives there are some take always in the form of reduction in rates of AMT and surcharge which is welcome. All in all it is Budget that will keep the Country firmly on the road to progress and to become a strong Atma Nirbhar Bharat.
