Union Finance Minister Nirmala Sitharaman on March 7 said that the Union Budget for 2022-23, which she presented, stands for continuity to provide a tax predictable governance and a vision for the next 25 years.
He said that the budget also ensures that the country is affluent enough to celebrate the completion of 100 years of independence.
“This budget is more for sustainability, to provide a tax predictable regime and also to ensure that we are planning for the next 20 to 25 years. It gives a vision and also some kind of roadmap through which we want to achieve the fundamental infrastructure, which will help us to be proud of ourselves,” Ms Sitharaman said during the budget outreach event, where she spoke to the industry. Interacted with and took their feedback and complaints. ,
According to Ms Sitharaman, the budget brought a lot of technology and digitization of the economy.
Underlining that the country is still coming out of the impact of the COVID-19 pandemic, the Union Minister said that the nation needs a support system, especially for health, which is completely stable and strong.
He also emphasized that there is a need to “wake up for the children who have lost two years of education and bridge the gap”.
Ms Sitharaman pointed out that the budget is also about ensuring that the states have a participatory role in whatever the Center is doing, so that the funds are shared with them and they also actively engage in infrastructure creation. May be
“The overarching principle of achieving synergy from all investments being made by both the Center and the States for infrastructure, so that the multiplier effect is actually benefited and the investments have a synergistic effect,” the minister said.
Stating that each of the investments does not stand alone in a silo, Ms Sitharaman told the gathering that the Center brought in the principle of PM Gati Shakti, which would be like an umbrella-like scheme over several projects, aimed at industry. for mutual benefit.
“The synergy of various investments in different sectors, be it ports or roads or bridges or trains, has to fall within each other’s domain and give us collective strength. [under Gati Shakti project]said the Finance Minister.
According to Ms Sitharaman, businesses suffer because of the money that is spent to compensate industries for excessive losses due to lack of adequate logistic facility. Everyone will be brought together because of the synergistic approach given by Gati Shakti, she explained.
Accompanied by top finance ministry officials, including Finance Secretary TV Somanathan and Revenue Secretary Tarun Bajaj, Ms Sitharaman said the next budget outreach program would be held in Assam, covering the northeastern region.