Rating agency Moody’s has said in a note that no concrete steps have been taken to generate revenue in the Union Budget. However, capital expenditure has increased substantially. It has said that the government is relying heavily on strong growth for fiscal consolidation.
Rating agency Moody’s has said in a note that no concrete steps have been taken to generate revenue in the Union Budget.
Budget 2022: rating agency Moody’s (Moodys) has said in a note that the revenue in the Union Budget (Revenue) No concrete steps have been taken to generate However, capital expenditure (Capital Expenditure) has increased substantially. He said that fiscal consolidation (Fiscal Consolidation) For this the government is relying heavily on strong growth. The rating agency has said that the budget has undermined the emphasis on capex for recovery from the epidemic in the earlier period of the government. Whereas, together the way has been shown for the economy to improve in the long term.
Moody’s Investors Service said the revenue-related steps include promoting startup innovation, giving equal status to cooperative and government employees, and promoting tax compliance through simplification. On the fiscal consolidation front, it said the reduction of the central deficit target from 6.9 per cent in FY22 to 6.4 in FY2023 indicates that the government is relying on strong growth to aid fiscal consolidation.
Announcement for electric vehicle also in the budget
In her fourth budget speech, Finance Minister Nirmala Sitharaman announced a boost to the electric vehicle market. Battery swapping policy will be brought along with interoperability standards to boost the EV ecosystem.
Finance Minister Nirmala Sitharaman also said that in recent times the trend of digital banking and digital payment has increased. The central government will promote this and on the occasion of 75th Independence Day, we will start 75 digital banking units in 75 districts of the country. All these will be user friendly and common people will get direct benefit from it.
Finance Minister Nirmala Sitharaman said in her budget speech that 80 lakh new houses will be built under PM Awas Yojana in 2022-23. A fund of Rs 48 thousand crore has been kept for them. Finance Minister Nirmala Sitharaman said that ‘One Class One TV Channel’ program will be started for quality education. For classes 1 to 12, the states will provide education in their regional languages.
Union Finance Minister Nirmala Sitharaman in her budget speech also said that the Emergency Credit Line Guarantee Scheme (ECLGS) will be extended till March 2023. The guarantee cover will be increased from Rs 50,000 crore to a total of Rs 5 lakh crore.
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