All the Budget 2022 Highlights you Must Know About!

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HighlightsHere are the highlights of Union Budget 2022!

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By Ruchi Sharma

‘Nari Shakti is the harbinger of our bright future’: Finance Minister Nirmala Sitharaman

The Union Budget 2022 was announced today by Finance Minister Nirmala Sitharaman and it is definitely the most important news since budget is the roadmap of development of our nation. But understanding it may sometimes be not very easy for everyone, so we consolidated the most important highlights in the simplest possible language avoiding the technical jargon for you, both from the importance from women’s point of view as well as the other announcements that you must know!

Announcements for Women and Children:

The schemes under Ministry of Women and Child Development like Mission Shakti, Mission Vatsalya, Saksham Anganwadi and Poshan 2.0 have been revamped for women led development.
The first 3 schemes were launched recently to provide integrated development for children and women.
Mission Shakti’s aim is to improve and empower women of the country and to make this scheme a success, government will work along with the states.
For improving child health, 2 lakh Anganwadis will be upgraded.
1 Class-1 TV channel announced for supplementary education for children to cover up the loss of education due to pandemic.
For enabling livelihood activities for youth and women, PM Development initiatives for North East to be implemented.

Some more major highlights:

Recognizing the need for addressing the mental health issues, National Tele-Mental Health Program was announced that will include a network of 23 Mental health centers for excellence and IIT Tech support.
PM Gatishakti Master Plan for pulling forward the economy and increasing opportunities and jobs for the youth.
Updated return can be filed by the taxpayer within 2 years of relevant assessment year.
Digital Passports are rolling out this year for the convenience of citizens in overseas travel.
World Class Universities allowed in GIFT (Gujarat International Finance Tech City)- IFSC that would be free from domestic regulations that will offer courses in financial management, fintech, science and technology, engineering and mathematics, except those by IFSCA.
Issue of Sovereign Green Bonds has been announced.
Central Bank Digital Currency: Digital Rupee to be issued by RBI using Blockchain and other technology.
Recognizing the problem associated with charging Electronic Vehicles (EVs), Battery Swapping Policy has been introduced.
AVGC (Animation, Visual Effects, Gaming and Comic) promotion taskforce to be set up for enhancing employment of youth in Gaming and Animation.
Paradigm change proposed in Urban Planning to facilitate rising urban population projected for India @ 100.
‘One Station, One product’ concept introduced for helping local startups.
Many schemes, extension of schemes and portals announced for startups and MSMEs.
A digital push through digital ecosystem for skilling and livelihood and open platform for national digital health ecosystem to be launched.
The FM announced Aspirational District Program for improving the lives of citizens in the most backward areas.
The capital expenditure has been increased by a whooping percentage of 35.4%.
The 5G services are slated to be rolled out in 2022-23.
Proposals are there in the budget to make a self-reliant defense sector.
‘One Nation One Registration’ for ease of living and doing business.