Northeast, Feb 1: Rs 1,500 crore will be allotted for development initiatives in the northeast, Finance Minister Nirmala Sitharaman announced as she presented the Union Budget 2022.
Budget 2022 is focusing on fast-tracking the economy, providing opportunities to businesses and creating new jobs in the Northeast. Agriculture, healthcare, MSMEs and infrastructure, too, feature prominently in the minister’s scheme of things.
All the big announcements so far
- Government back funds SIDBI fund of funds have provided scale capital creating a multiplier effect.
- Implementation of Ken Betwa Linking project at est. cost of Rs. 44,605 Cr. to be taken up with irrigation benefits to 9.0 lakh hectare farmland, drinking water to 62 lakh people, 103 MW hydropower. 27 MW solar power generation.
- Digital currency to boost the digital economy. Digital Rupee to be issued by RBI starting 2022-23.
- Rs. 1 lakh crore to assist the states in catalysing the overall investment in an economy. These 50 years interest-free loans are over and above the normal borrowings to the states
a revised estimate of capital expenditure is Rs. 6.3 lakh crore.
- To become sustainable & stronger we have set up a target to reach below 4.5% fiscal deficit level.
- Effective Capital Expenditure of the Central Govt is estimated at Rs 10.68 lakh crores in 2022-23, about 4.1% of GDP.