Budget 2022: Planning to borrow ₹14.95 lakh crore

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Budget 2022: Planning to borrow ₹14.95 lakh crore in the next financial year

The government is planning to borrow ₹14.95 lakh crore in the next financial year, according to the Union Budget presented by finance minister Nirmala Sitharaman on Tuesday, a record amount that is aimed largely at financing a massive capital expenditure plan. HT

25-year roadmap — from India at 75 to India at 100

Finance Minister Nirmala Sitharaman spoke of laying the foundations for a 25-year roadmap — from India at 75 to India at 100. It is good to look at the longer term and to plan and build accordingly. But equally, there is no denying that any futuristic scenario needs proper anchoring in the present to see just how much the economy is capable of handling and how the masses will hold on in the near term. Deccan Herald

Capital Expenditure increased by 35.4 %

Finance minister Nirmala Sitharaman on Tuesday unveiled a budget that was long on promise and short on effort with no sign of any big-bang reform that could jumpstart a revival in what the Narendra Modi government loves to characterise as the “fastest-growing large economy in the world”. The epithet was quickly fashioned after the finance ministry boffins cranked up capital expenditure by 35.4 per cent to Rs 7.5 lakh crore from Rs 5.54 lakh crore in last year’s budget. Telegraph

Subsidy budget for food, fertiliser and fuel reduced by 26.6 per cent

The Centre has reduced its subsidy budget for food, fertiliser and fuel in the upcoming fiscal by 26.6 per cent, compared to the Revised Estimates for this fiscal. Experts have noted that the move signals a normalisation of subsidy levels after two fiscals, which saw subsidy bills soar as the government sought to dampen the impact of the pandemic by offering a free food programme and bore the brunt of higher international fertiliser prices. Indian Express

Extension of Emergency Credit Line Scheme

The Union Budget for 2022-23 has announced several measures for the micro, small and medium enterprises (MSMEs) sector that included extension of Emergency Credit Line Guarantee Scheme (ECLGS) till March 2023.. Hindu

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