BUDGET 2022- Highlights

The finance minister Nirmala Sitharaman today presented the Budget 2022 in the parliament. It was a much awaited and highly anticipated event for everyone.

Here are the highlights of the Budget 2022:

• Economic growth of 9.2% for FY 22.• Under PM Gati Shakti plan for next 25 years.• In 2022-23 over 25,000 kms of road network to be built and over Rs. 20,000 crores investment to improve transport and logistics. It will help commercial businesses to grow which in turn will benefit the auto industry in terms of better supply chain and higher demand of commercial vehicles.• Focus on EVs and zero-fossil fuel use with government buses expected to be powered by electric power in the future.• Battery swapping policy to come out with focus on interoperability of batteries with support to companies developing battery tech for EVs.• 5G spectrum auctions in 2022 with official launch in 2023, optical fibre cables to be laid under BharatNet project in all villages.• 19.5k crores for high efficiency modules for solar panels which will in turn help in companies setting up clean EV charging stations.• Duty concessions to mobile charger and camera module makers also duty concessions to manufacturing electronic wearables announced.• Exemptions to steel scraps increased for 1 year, will help scrapping of old vehicles.• Unblended fuel to get excise duty of Rs. 2/l from 1 May, government’s focus on blending of fuel.