UNION BUDGET

2 22

INCLUDES:
Where does the money come from?
Where does it go?
Fiscal deficit
Education Allocation
Healthcare Allocation
Highest Budget Allocation
Key Highlights
Summary
 WHERE DOES
THE MONEY
COME FROM?

GST
16%

Borrowings
35%

Income Tax
15%

Non Debt Reciept

2%

Excise Duties
Non Tax Revenue
7%
5%
Customs
Corporate Tax 5%
15%
 WHERE DOES
THE MONEY
IT GO?

Others Pensions
9% 4% State Tax Deposits
8%

Interest Payments Central Schemes

20% 15%

Transfers
Centrally Sponsored Schemes 10%
9%

Subsidies
8% Defence
17%
 FISCAL
DEFICIT
The government gets income from taxes, interest etc. and if they spend more,
there will be a difference between their revenue and expenditure. Their
difference is called a Fiscal Deficit.

10

7.5

2.5

0
2017-18 2018-19 2019-20 2020-21 2021-22 BE 2022-23

Next year's Fiscal Deficit Budget estimate is around 6.4%.

Proposes fiscal deficit of 4.5% of GDP by 2025/26
Revised fiscal deficit for 2021/22 at 6.9% of GDP.
Total expenditure in 2022/23 is estimated at ₹39.45 trillion.
States will be allowed 4% fiscal deficit to GDP in FY23.
50 years interest free loan over and above borrowing allocated to states.
States to be outlay ₹1 trillion to states for capital investment under scheme for financial
assistance .
 HEALTH
ALLOCATION
₹ 100,000

₹ 75,000

₹ 50,000

₹ 25,000

₹0
Budget Estimate 2022-23 Budget Estimate 2021-22

There was huge expectation regarding major allocation towards Healthcare and the onset of
pandemic gives prominence it to further, but a 0.23% increase from RE'21 has been
offended!!

An open platform for National Digital Health Ecosystem to be rolled out.

‘National Tele Mental Health Programme’ for quality mental health counselling
and care services to be launched.
A network of 23 tele-mental health centres of excellence will be set up, with
NIMHANS being the nodal centre and the International Institute of Information
Technology-Bangalore (IIITB) providing technical support.
 EDUCATION
ALLOCATION
₹ 125,000

₹ 100,000

₹ 75,000

₹ 50,000

₹ 25,000

₹0
Actuals FY21 BE FY22 RE FY22 BE FY23

‘One class-One TV channel’ programme of PM eVIDYA to be expanded to 200 TV channels.

Virtual labs and skilling e-labs to be set up to promote critical thinking skills and a simulated
learning environment.
High-quality e-content will be developed for delivery through Digital Teachers.
Digital University for world-class quality universal education with a personalised learning
experience to be established.
 TOP
BAGGERS

CHART OF TOP MINISTRIES WITH HIGHEST BUDGET ALLOCATION

 ALLOCATIONS IN
DIFFERENT AREAS
EXPORTS
To incentivise exports, exemptions are being provided on items such as

embellishment, trimming, fasteners, buttons, zipper, lining material,

specified leather, furniture fittings and packaging boxes.

Duty being reduced on certain inputs required for shrimp aquaculture –

to promote its exports.

MSME
Customs duty on umbrellas being raised to 20 per cent. Exemption to parts of umbrellas being

withdrawn.

Exemption being rationalised on implements and tools for agri-sector which are manufactured in

India

Customs duty exemption given to steel scrap last year extended for another year to provide relief

to MSME secondary steel producers

Certain Antidumping and CVD on stainless steel and coated steel flat products, bars of alloy steel

and high-speed steel are being revoked – to tackle prevailing high prices of metal in the larger

public interest.

PUBLIC CAPITAL INVESTMENT

Public investment to continue to pump-prime private investment and demand in 2022-23.

The outlay for capital expenditure stepped up sharply by 35.4% to Rs. 7.50 lakh crore
in 2022-23 from Rs. 5.54 lakh crore in the current year.
The outlay in 2022-23 to be 2.9% of GDP.

‘Effective Capital Expenditure’ of Central Government estimated at Rs. 10.68 lakh crore
in 2022-23, which is about 4.1% of GDP.

TAXES
Govt vows a stable and predictable tax regime

Govt to provide one-time window to correct omissions in ITRs filed, updated

returns to be filed within 2 years

Any cess or surcharge on income not allowed as business expenditure

1 per cent TDS on transfer of virtual assets above a threshold, gifts to be taxed

Surcharge on long-term capital gains capped at 15 per cent

The government will tax income from digital asset transfers at 30%

AGRICULTURE
Govt to pay Rs 2.37 lakh crore towards procurement of wheat and paddy

under MSP operations

2022-23 has been announced as International Year of Millets

Railways will develop new products for small farmers and MSMEs

A rationalised scheme to increase domestic oilseed production will be

brought in to cut down imports

Kisan Drones for crop assessment, land records, spraying of insecticides

expected to drive a wave of technology in agri sector.

 KEY
HIGHLIGHTS
30% tax on income from virtual digital assets (crypto, others)

Digital rupee currency using blockchain to be issued by RBI

-2000km of road network to be brought under KAVACH

-400 new-gen Vande Bharat trains to be built over the next 3
years
-PM Gati Shakti master plan for expressway to be made
-100 new cargo terminals to be built over the next three years

A national tele mental health programme for counseling will be

launched

'One class, one TV channel' program of PMeVIDYA will expand

from 12 to 200 TV channels

To provide an opportunity to correct errors made while filing

taxes, taxpayers can now file an updated return within 2 years
from the relevant assessment year.