Public investment to continue to pump-prime private investment and demand in 2022-23.
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. This 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.
GIFT-IFSC
World-class foreign universities and institutions to be allowed in the GIFT City.
An International Arbitration Centre to be set up for timely settlement of disputes under international jurisprudence.
Mobilising Resources
Data Centres and Energy Storage Systems to be given infrastructure status.
Venture Capital and Private Equity invested more than Rs. 5.5 lakh crore last year facilitating one of the largest start-up and growth ecosystem. Measures to be taken to help scale up this investment.
Blended funds to be promoted for sunrise sectors.
Sovereign Green Bonds to be issued for mobilizing resources for green infrastructure.
Digital Rupee
Introduction of Digital Rupee by the Reserve Bank of India starting 2022-23 using blockchain and other technologies
Providing Greater Fiscal Space to States
Enhanced outlay for ‘Scheme for Financial Assistance to States for Capital Investment’ from Rs. 10,000 crores in Budget Estimates to Rs. 15,000 crores in Revised Estimates for current year.
Allocation of fifty-year interest free loans of Rs. 1 lakh crores in 2022-23 over and above normal borrowings to assist the states in catalysing overall investments in the economy. In 2022-23, States will be allowed a fiscal deficit of 4% of GSDP, of which 0.5% will be tied to power sector reforms.
Fiscal Management
Total Expenditure
Budget Estimates 2021-22: 34.83 lakh crore
Revised Estimate 2021-22:`37.70lakh crore
Budget Estimates 2022-23: `39.45 lakh crore
Total receipts other than borrowings in 2022-23 estimated at Rs. 22.84 lakh crores
Revised Fiscal deficit in current year: 6.9% of GDP (against 6.8% in Budget Estimates)
Fiscal deficit in 2022-23 estimated at 6.4% of GDP
