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MP Budget 2022


This year’s MP state budget was presented by the finance minister Jagdish Devda. The budget totaled up to be worth Rs 2,79,237 lakh crore which is still attracting some backlash. This year’s goal for the budget is to make Madhya Pradesh an 'Atma-Nirbhar' state.

Highlights of budget 2022-23

  • The citizens of the state have been comforted by the fact that no new taxes have been imposed. The state government also intends to provide low-cost electricity, and a subsidy of Rs 21,000 crore has been set aside for this purpose.
  • The state government will also construct 4000 kilometers of roads this year, for which Rs 108 crore has been budgeted.
  • The state government has even set a target area of 99,000 hectares for this year, in line with Prime Minister Narendra Modi's vision of promoting zero-budget natural farming in India.
  • Industrial parks in Bagrod, Berasia, and Bhopal along with solar plants in Sagar, Shajapur, and Ujjain have also been approved by the state government progressing the smart city development of the chosen cities. Eleven new industrial zones will also be developed, creating around 11,000 new jobs.
  • The Finance Minister also stated the estimated fiscal deficit was Rs 52,511 crore, which is 4.56 percent of the Gross State Gross Domestic Product (GSDP).
  • In a major push for fisheries, the Chief Minister Fisheries Scheme is all set to be launched, with a budget of Rs 50 crore proposed
  • 13,000 new teachers are to be hired for government schools which will surely be an aid to the understaffed government schools throughout the state.
  • The state government also decided to increase the number of seats available for MBBS and nursing programs much to the relief of medical students. There will be 22 new medical colleges built in Sheopur, Rajgarh, Mandla, Seoni, Singrauli, Neemuch, Mandsaur, Damoh, and other districts and the number of seats available for MBBS and nursing programs will be increased by 1215.
  • Burhanpur has become the first district in the state where every home has access to running water and it has been set as a goal to increase irrigation potential to 65 lakh hectares by 2025.
  • A total of 217 Electronic Vehicle Charging Stations will be built under the Public-Private Partnership model in Bhopal, Indore, and Jabalpur So that people owning Electronic Vehicles will no longer be inconvenienced when traveling long distances.
  • Dearness Allowance will be raised from 20% to 31%. Approximately 5.5 lakh state government employees will benefit from this.
  • The Mukhyamantri Teerth Darshan Yojana will be restarted which was first launched in 2012 and provides assistance to senior citizens of the state over 60 years of age to visit a prescribed pilgrimage outside the state.
  • Electricity consumers will receive a subsidy of 25000 crores.
  • A budget of Rs. 6300 crores are proposed for the Rural and Urban Jal Jeevan Mission.
Let’s take a closer look into some new schemes proposed by the government in this year’s State Budget

Child Budget

Child Budget Innovation For the first time, the government is preparing a child’s budget. The government takes many steps for children, whether it is supplementary nutritional food or a scholarship. The schemes of 19 departments related to children, as well as the provisions for their needs, will be mentioned in one place in this.

31 lakh people will benefit from the PM Awas Yojana.

During this budget, it was announced that 31 lakh beneficiaries would benefit from the Pradhan Mantri Awas Yojana, which will provide roofs to low-income families. A provision of Rs 10,000 crore has been made in this regard.

Cow safeguarding

A new scheme for the protection of cows and animals has been launched. Animal husbandry, milk, and other benefits have been preserved. This will provide employment as well as other advantages. The state will also begin providing door-to-door veterinary services.
In addition, the Tribal Development Corporation will be established. SC Finance Development Corporation has been allocated 40 crores. Backward Classes Finance Development Corporation has been allocated 50 crores for OBCs.

Farmers' needs

A storage capacity of one lakh metric tonnes for horticulture crops will be developed. The milk production scheme will begin as a result of this. There is a 1050 provision for this. The state will begin providing door-to-door veterinary services. There is the possibility of employment in the fishing industry. The Chief Minister's Fisheries Scheme will begin. A budget of Rs. 50 crore has been set aside for this purpose.
A credit of Rs. 2000 crores will be extended to an increasing number of women from the SC-ST and OBC communities to encourage them to pursue self-employment. This work has been done and will continue to be done through self-help groups. This scheme will now provide a credit of Rs 2000 crore.

Rural Infrastructure is a priority

The government has accepted proposals from BJP MLAs for construction projects worth Rs 15 crore each. It will be included in the budget. The government is concentrating its efforts on rural infrastructure. The emphasis is on building small village roads. The budget includes funds for the acquisition of land for the Narmada Expressway and the Chambal Expressway.

Adarsh Gram will gain 200 new villages

Aside from that, the government will include 200 new villages in the Adarsh Gram Yojana in this year's budget. A separate budget line item will be set aside for development in this area. In addition, the government is involving 40 urban bodies in Amrit Yojana Phase 2. A separate budget provision for development can be made in this case.

Ladli Laxmi 2.0

The draft of the Ladli Laxmi Yojana 2.0 has been prepared by the Department of Women and Child Development. There is a provision in this for giving the daughters of the Ladli scheme 25,000 rupees upon college admission. Shivraj Singh Chouhan, the Chief Minister, has already announced this. Aside from that, there is a provision for awarding Ladli Gram Panchayats by selecting and awarding Ladli Gram Panchayats for the cost of college tuition fees. It could be included in the budget.

Panchayats will have the authority to issue NOCs

The government will grant Panchayats the authority to grant NOCs to promote industry and tourism in rural areas. A proposal to amend the Act can be introduced in the budget session to accomplish this. Its goal is to increase investment to increase employment opportunities for youth.

There will be an increase in the health budget.

According to the report of the 15th Finance Commission for the fiscal year 2022-26, all states should allocate 8% of their annual budget to health. According to the report, increasing spending on the health sector will help the countries and state's economies. This is an opportunity for the government to increase the healthcare budget. The government has the authority to make decisions regarding the appointment of doctors at rural primary health care centers.
The budget includes funding for self-employment programs to help unemployed people find work. In this case, the government will make low-interest loans to create jobs.
Speaking to the media ahead of the Budget presentation, Finance minister Jagdish Devda stated, "The budget will be in line with the expectations of the people". This budget will address the needs of all segments of society and that has surely been true since no section of society is left behind in this year’s state budget planning.

Key Highlights of Union Budget 2021-22


The Union Budget aims to supplement macroeconomic growth by focusing on microeconomic all-inclusive welfare. Smt Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs tabled the Union Budget 2022-23 in Parliament today.
The following are the budget's main highlights:

PART A

  • India's economic growth rate is predicted to be 9.2 percent, the highest among global economies.
  • 60 lakh new jobs would be created in 14 industries as part of the productivity-linked incentive scheme.
  • PLI Schemes have the potential to generate an additional Rs 30 lakh crore in production.
  • Entering Amrit Kaal, the 25-year countdown to India @100, the budget provides growth impetus as well as four priorities:
  • PM GatiShakti
  • Inclusive Development
  • Productivity Enhancement & Investment Opportunities, Sunrise Opportunities, Energy Transition, and Climate Action
  • Productivity Enhancement & Investment Opportunities, Sunrise Opportunities, Energy Transition, and Climate Action Investment financing

PM GatiShakti

Roads, Railways, Airports, Ports, Public Transport, Waterways, and Logistics Infrastructure are the seven engines that power PM GatiShakti.

PM GatiShkati National Master Plan

The scope of the PM GatiShakti National Master Plan would include the seven economic transformation engines, seamless multimodal connectivity, and logistics efficiency. The initiatives in the National Infrastructure Pipeline related to these seven engines will be linked with the PM GatiShakti framework.

Road Transportation

In 2022-23, the National Highways Network will be expanded by 25000 kilometers. A total of Rs 20,000 crore would be mobilized for the expansion of the National Highways Network.

Multimodal Logistics Parks

Contracts for the implementation of Multimodal Logistics Parks in four locations will be given using the PPP approach in 2022-23.

Railways

  • One Station One Product is a concept designed to assist local businesses and supply networks.
  • In 2022-23, 2000 km of railway network will be brought under Kavach, an indigenous world-class technology, with capacity augmentation.

Parvatmala

  • The National Ropeways Development Program, Parvatmala, will be implemented through a public-private partnership.
  • Contracts for eight 60-kilometer-long ropeway projects will be awarded in 2022-23.

Inclusive Development Agriculture

  • Direct payments of Rs. 2.37 lakh crore to 1.63 crore farmers for wheat and paddy procurement.
  • Free of chemicals Natural farming will be promoted across the county. The initial focus would be on farmer's fields in 5-kilometer-wide lanes along the Ganga.
  • 'Kisan Drones' for crop evaluation, digitization of land records, application of pesticides and nutrients.

MSME

  • Udyam, e-shram, NCS and ASEEM ports will be linked.
  • Under the Emergency Credit Linked Guarantee Scheme, 130 lakh MSMEs received additional credit (ECLGS)
  • The ECLGS will be extended until March 2023.
  • The ECLGS guarantee cover will be increased by Rs 50000 crore, bringing the total protection to Rs 5 lakh crore.
  • protection to Rs 5 lakh crore. An additional credit of Rs 2 lakh crore would be made available to Micro and Small Enterprises through the Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE).
  • The Raising and Accelerating MSME Performance (RAMP) program, with a budget of Rs 6000 crore, would be implemented.

Ken Betwa project

  • The Ken Betwa project calls for a 1400 crore spend for the construction of the Ken – Betwa link.

Skill Development

The Digital Ecosystem for Skilling and Livelihood (DESH-Stack e-portal) will be launched to enable citizens to skill, reskill, or upskill via online advice. Startups will be encouraged to help foster 'Drone Shakti' and Drone-As-A-Service (DrAAS).

Education

PM eVIDYA's 'One class-One TV channel' program will be expanded to 200 TV channels. Virtual labs and skilling e-labs will be established to improve critical thinking abilities and to provide a simulated learning environment. High-quality e-content will be created for distribution via Digital Teachers. To be built is a digital university providing world-class quality universal education with a personalized learning experience.

Health

  • A 'National Tele Mental Health Programme' would be created to provide high-quality mental health therapy and care services.
  • A network of 23 tele-mental health excellence centers would be established, with NIMHANS serving as the nodal center and the International Institute of Information Technology-Bangalore (IIITB) providing technical assistance .

Housing for Everyone

  • Under the PM Awas Yojana, Rs. 48,000 crores have been allotted for the completion of 80 lakh dwellings in 2022-23.

Prime Minister’s Development Initiative for North-East Region (PM-DevINE)

  • PM-DevINE, a new initiative to fund infrastructure and social development projects in the North East, has been launched.
  • Under the scheme, an initial allocation of Rs. 1,500 crore has been allocated to facilitate livelihood activities for young women.

Vibrant Villages Initiative

  • Vibrant Settlements Program for the development of border villages on the northern border with sparse populations, insufficient connectivity, and lower support of structure.

Banking

  • The basic banking system will be used by all 1.5 million post offices.
  • Commercial banks establish 75 Digital Banking Units (DBUs) in 75 districts.

Urban Planning

  • Building bylaws will be modernized, as will Town Planning Schemes (TPS) and Transit Oriented Development (TOD).
  • A battery switching policy will be developed for implementation.

AtmaNirbharta in Defence:

  • The domestic industry would receive 68 percent of the capital procurement budget in 2022-23, up from 58 percent in 2021-22.
Defense R&D will be opened up to businesses, entrepreneurs, and academics, with 25% of the defense R&D budget set aside. An independent nodal umbrella agency will be established to meet testing and certification criteria.
Energy Transition and Climate Action An additional Rs. 19,500 crore has been allocated for the Production Linked Incentive for the development of high-efficiency solar modules in order to reach the target of 280 GW of installed solar capacity by 2030. 5% to 7% biomass pellets will be co-fueled in thermal power plants, saving 38 MMT CO2 per year, increasing income for farmers and job opportunities for people, reducing environmental pollution. scorched straw in agricultural fields.Four pilot projects for coal gasification and coal conversion into chemicals for the industry will be established. Farmers from Scheduled Castes and Tribes who desire to engage in agroforestry can receive financial assistance.

Public Capital Investment:

In 2022-23, public investment will continue to fuel private investment and demand.

  • The outlay in 2022-23 is expected to be 2.9 percent of GDP.
  • The central government's "effective capital expenditure" is expected to be Rs 10.68. Rs. In 2022-23, that's about 4.1% of GDP.

Digital Rupee

Introducing Digital Rupee by RBI starting 2022-23.

PART B

DIRECT TAXES

To promote the policy of a stable and predictable tax system :

  • Vision To establish a trustworthy tax regime. Introducing new ‘Updated return’
  • Will enable the assessee to declare income missed out earlier.

PINDIRECT TAXES

Remarkable progress in GST

  • Despite the epidemic, GST receipts are increasing, and taxpayers should be applauded for this.

Special Economic Zones

  • SEZ Customs Administration should be totally IT-driven and operate on the Customs National Portal – to be implemented by September 30, 2022.

Customs Reforms and duty rate changes

  • Faceless Customs has been completely established. Customs formations performed outstanding frontline work against all odds during the Covid-19 epidemic, demonstrating agility and purpose.

Project imports and capital goods

  • Gradually reduce the preferential tax rates for capital goods and project imports, and at the same time implement a reasonable tax rate of 7.5%, which is beneficial to the growth of the domestic sector and "Made in India".
  • Certain exclusions for modern gear that isn't made in the nation will remain in place.
  • Certain exemptions for non-domestic advanced machinery will be maintained.
  • A few exemptions were introduced on inputs, like specialized castings, ball screw, and linear motion guides - to encourage domestic manufacturing of capital goods.

Review of customs exemptions and tariff simplification

  • More than 350 exemptions have been proposed to be removed, such as exemptions for certain agricultural products, chemicals, fabrics, medical devices, drugs and drugs for which there is national capacity.
  • To reduce conflicts, the Customs rate and tariff structure should be simplified, particularly for industries such as chemicals, textiles, and metals. In keeping with the goals of 'Make in India' and 'Atma Nirbhar Bharat,' exemptions on commodities that are or may be manufactured in India are being removed, while concessional tariffs on raw materials used in the creation of intermediate products are being offered.

Sector specific proposals

Electronics

  • Simplifying the Customs rate and tariff structure, notably for industries like as chemicals, textiles, and metals, in order to reduce disputes; Removal of exemptions for things that are or can be manufactured in India, as well as giving concessional duties on raw materials used in the manufacture of intermediate products - all in keeping with the goals of 'Make in India' and 'Atma Nirbhar Bharat.'

Gems and Jewellery

  • Customs charge on cut and polished diamonds and gemstones will be reduced to 5%; there will be no customs duty on simply sawn diamonds - to help the Gems and jewelry sector.
  • A simplified regulatory framework to be implemented by June this year - To facilitate export of jewelry through e-commerce.
  • Customs duty of at least Rs 400 per Kg to be paid on imitation jewelry import - To disincentive import of undervalued imitation jewelry.

Chemicals

  • Customs duty on certain critical chemicals namely methanol, acetic acid and heavy feed stocks for petroleum refining is being reduced; Duty is being raised on sodium cyanide for which adequate domestic capacity exists which will help in enhancing domestic value addition.

MSME

  • The tariff on umbrellas has been hiked to 20%. Exemption from the withdrawal of parts of umbrellas.
  • Exemption is being justified for agri-sector implements and instruments manufactured in India.
  • The tariff exemption granted to steel scrap last year has been extended for another year in order to help MSME secondary steel makers.
  • Certain anti-dumping and CVD measures on stainless steel and coated steel flat products, alloy steel bars, and high-speed steel are being canceled in order to address the current high metal prices in the wider public notice.

Exports

  • Exemptions are offered on items such as embellishment, trimming, fasteners, buttons, zipper, lining material, selected leather, furniture fittings, and packaging boxes to encourage exports.
  • Duty on some materials used in shrimp aquaculture is being decreased in order to boost transport.

Tariff measure to encourage blending of fuel

  • Unblended fuel to attract an additional differential excise duty of Rs 2/ liter from the 1st of October 2022 - to encourage blending of fuel.

Posted On: 01 FEB 2021 2:07PM by PIB Delhi

Presenting the first ever digital Union Budget, Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman stated that India’s fight against COVID-19 continues into 2021 and that this moment in history, when the political, economic, and strategic relations in the post-COVID world are changing, is the dawn of a new era – one in which India is well-poised to truly be the land of promise and hope.

The key highlights of the Union Budget 2021-22 are as follows:

6 pillars of the Union Budget 2021-22:

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Achievements and Milestones during the COVID
2021 - Year of milestones for Indian history
  • • 75th year of India’s independence
  • • 60 years of Goa’s accession to India
  • • 50 years of the 1971 India-Pakistan War
  • • Year of the 8th Census of Independent India
  • • India’s turn at the BRICS Presidency
  • • Year for Chandrayaan-3 Mission
  • • Haridwar MahaKumbh
Vision for AatmaNirbhar Bharat
  • • AatmaNirbharta – not a new idea – ancient India was self-reliant and a business epicentre of the world
  • • AtmaNirbhar Bharat – an expression of 130 crore Indians who have full confidence in their capabilities and skills
    • • Strengthening the Sankalp of:
    • Nation First
    • Doubling Farmer’s Income
    • Strong Infrastructure
    • Healthy India
    • Good Governance
    • Opportunities for Youth
    • Education for All
    • Women Empowerment
    • Inclusive Development
  • • 13 promises made in the Union Budget 2015-16, and resonating with the vision of AatmaNirbharta, to materialise during the AmrutMahotsav of 2022 – on the 75th year of our independence