Bhubaneswar: India’s economic growth is estimated to be 9.2% in the upcoming financial year, said Union Finance Minister Nirmala Sitharaman while presenting the Union Budget 2022-23 in Parliament House on Tuesday.
She informed that the focus of the Budget is to complement the micro and macro economy, promote the digital economy, and private and public investments. Strengthening health infrastructure is a priority.
With the provision for public investment in the last budget, this budget continues to provide a multiplier effect which will benefit youth, farmers, SCs, STs, women & the poor, said Sitharaman.
The economic recovery is continuing to benefit from the multiplier effect and the budget 2022-23 is designed primarily to benefit two core sectors:
- Women, Students, Farmers
- Big public infrastructure for modernisation and development with PM Gati Shakti
PM Gati Shakti will pull forward the economy and will lead to more jobs and opportunities for the youth, she added.
The Minister informed that the National Highway network will be expanded by 25,000 kilometres in 2022-23.
PM Gati Shakti will encompass the seven engines for multi-modal connectivity for the states with speedier implementation of development projects through technology to facilitate faster movement of people & goods through Rs 20,000 crore financed by the government to speed up this project.
Railways will develop efficient logistics for small farmers and enterprises. 100 Cargo Terminals under PM Gati Shakti will be developed in the next few years.
As a part of Atma Nirbhar Bharat, over 2,000 kilometres will be brought under KAWACH the indigenous world-class technology in 2022-23. ‘Parwatmala’ for conventional roads in hilly areas to be taken in PPP modes.
She further informed that natural farming will be promoted along Ganga corridor. Inclusive development is the government’s priority which includes farmers for Paddy, Kharif & Rabi crops under which 1,000 LMT Paddy is expected to be procured benefitting over 1 crore farmers.
