India Budget 2022

‘ACE’ing the Atamnirbhar, Clean energy & Economic growth priorities for Bharat

Path to economic recovery in India pushed by disruptions, uncertain times and geo-political issues amidst aim to be “Atamnirbhar”. Will Union Budget be in line with long-term goals for the country or would be focusing on short-term measures?

Key Highlights

The very scope of the PM GatiShakti National Master Plan is oriented towards rolling back to the fundamental growth engines for an economy which is bound to have lasting impacts. This could easily be understood basis upon the models adapted by China and Middle East countries like UAE, Oman & Qatar. When compared to size and scale the challenges and opportunities shall have semblance with China. For long this was required, and India is headed in right direction to embolden the basics which shall transform into sustainable and robust growth.
For any economy to witness fast paced growth, "self-reliance" in all aspects holds the key. To garner the self-reliance in major economic activity roads act as nerves to the heart in human body. The pace of planned NHAI capacity addition is impressive standing at 25,000 km in 2022-23 shall enable access to impressive network 
The rising population and growing demand to go "Green" in mobility would see flourishment of special mobility zones with "Zero Fossil" fuel policy. Further, the space constraint shall see a scaling up in battery swapping with an enabler policy bringing inter operability standards to light. This will increase private sector investments through innovative business models to treat battery or energy as service leading enhanced EV ecosystem in India. Apart from this, grid scale battery energy storage shall be attracting eye balls from global investors to have a unified energy mix and promote renewable grid management system with a balanced structure.
Defense R&D to open up for private sector and start ups with 25% of the defense R&D budget earmarked. Private sector shall be allowed to have SPVs formulated in participation with DRDO in order to develop & design equipments as per the nodal body to be set for testing & certification.
Though ambitious in terms of capacity addition planned by 2030 the PLI certainly will be a boom for manufacturing high efficiency modules with priority to fully integrated manufacturing units from polysilicon to solar PV modules. Having said so, ideally some clarification for ALMM to be applied and the rise in CAPEX leading to tariff rise in solar sector was deeply anticipated but missed the budget.
AI, geospatial systems, drones, semiconductors, space economy, geonomics, pharma, green energy and clean mobility systems are the sectors which would garner maximum investments from both private & public entities and shall be forming the base for India's sustainable, clean and affirmative action for climate change by adaptive energy transition.

Taking cues from the very ethos of “success planning” eninrac through its dedicated team of sector consultants and industry specialist would be doing a round up on India Budget 2022-23 with live feeds, structured surveys and quality polls to offer unmatched point of view to all clients

India Budget 2022 - Key Features

Goals of Amrit Kaal:
  • Focus on growth and all-inclusive welfare
  • Promoting technology-enabled development, energy transition, and climate action
  • Virtuous cycle starting from private investment, crowded in by public capital investment

  • India Budget 2022 - PM Gatishakti

    • Driven by seven engines: Roads, Railways, Airports, Ports, Mass Transport, Waterways, and Logistics Infrastructure
    • National Master Plan aimed at world-class modern infrastructure and logistics synergy
    • Formulation of Master Plan for expressways: Completing 25,000 km national highways in 2022-23
    • Unified Logistics Interface Platform allowing data exchange among all mode operators
    • Open Source Mobility Stack for seamless travel of passengers
    • 4 Multimodal Logistics parks through PPP to be awarded in 2022-23
    • Integration of Postal and Railways Network facilitating parcel movement
    • One Station One Product
    • Extending coverage under Kavach
    • 400 new generation Vande Bharat Trains
    • Multimodal connectivity between mass urban transport and railway stations
    • National Ropeways Development Plan as a sustainable alternative to conventional roads
    • Capacity building for infrastructure Projects

    India Budget 2022 - Agriculture & Food Processing - Key Highlights

    • Promoting chemical-free natural farming starting with farmers’ lands close to river Ganga;
    • Promoting post-harvest value addition, consumption and branding of millet products;
    • Delivery of Digital and Hi-Tech services to farmers in PPP mode;
    • Use of Kisan Drones to aid farmers;
    • Launching fund with blended capital to finance agriculture startups;
    • Implementation of Ken Betwa Link Project benefitting 9.1 lakh hectare farmland, providing drinking water to 62 lakh people and generating 130 MW power; 
    • 5 more such projects are under process of implementation;

    India Budget 2022 - Education - Key Highlights

    • Universalisation of Quality Education - One class One TV channel programme to be expanded to 200 TV channels;
    • Virtual labs and skilling e-labs to promote critical thinking skills and stimulated learning environment;
    • A Digital University will be established with world-class quality universal education;
    • High-quality e-content will be delivered through Digital Teachers;
    • Digital Ecosystem for Skilling and Livelihood (DESH-Stack e-portal) will be launched to promote online training;

    India Budget 2022 - Health - Key Highlights

    • National Digital Health Ecosystem will be rolled out;
    • National Tele Mental Health Programme will be launched for quality counseling;
    • Integrated architecture: Mission Shakti, Mission Vatsalya, Saksham Anganwadi, and Poshan 2.0 to be launched;
    • Two lakh Anganwadis to be upgraded to Saksham Anganwadis;

    India Budget 2022 - Renewable Sector - Key Highlights

    • An additional allocation of INR 19,500 Crore to augment solar PV module manufacturing under the Production Linked Incentive (PLI) Scheme;
    • As a part of the government's overall market borrowings in 2022-23, sovereign Green Bonds will be issued for mobilising resources for green infrastructure. The proceeds will be deployed in public sector projects which will help in reducing the carbon intensity of the economy;
    • Center to formulate battery swapping policy for electric vehicles;


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