Budget 2022 Northeast

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.

The government also proposed to further extend the Emergency Credit Line Guarantee Scheme (ECLGS) till March 2023, with an expanded guarantee cover of Rs 5 lakh crore. Sitharaman said the draft DPRs (detailed project report) for five river links have been finalised and the implementation of Ken-Betwa rivers linking with an estimated cost of Rs 44,605 crore will be taken up.

In her Budget 2022 speech, Sitharaman said Kisan drones for crop assessment, land records and spraying of insecticides are expected to drive a wave of technology in the agriculture sector. “ECLGS scheme to be extended till March 2023 and guarantee cover expanded by Rs 50,000 to Rs 5 lakh crore,” she said.

Also Read: Finance Minister Nirmala Sitharaman announces Atmanirbhar 3.0

Budget 2022:

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.