Budget 2022: Changing expectations with Corona. Budget for Subsidies for the poor and welfare!


India is facing an unprecedented crisis with the corona epidemic boom.  In the first and second waves, the life of the common people became chaotic.

The economy froze. indian Budget 2022: india is facing an unprecedented crisis with the corona epidemic boom.
In the first and second waves, the life of the common people became chaotic. The economy is frozen.
 In this context, Union Finance minister Nirmala Sitharaman will present the Union Budget 2022 for the financial year 2022-23 in parliament on february 1.


The Union government is running on a monetary plan to hoist the indian flag at the cosmic curtain withinside the future, similarly to groaning chaotic structures with the destruction being created via way of means of the corona.
This budget seems to focus on organized programs that pave the way for national development in the long run rather than the announcement of short-term soothing schemes.

Information that the central government will reduce the total subsidy in 2022-23. The government is expected to keep food and fertilizer subsidies at Rs 2.60 lakh crore and Rs 90,000 crore, respectively, in the forthcoming budget.
This is lower than the revised estimates for the fiscal year 2022.
The total subsidy bill for the current financial year is around Rs. 5.35 to 5.45 lakh crore.

Officials said the government hopes to reduce this in the coming financial year. According to a report, the fiscal deficit for the 2023 fiscal year will be 6.5 percent of gross domestic product (GDP), an official said.

This is in contrast to 6.8 percent of GDP announced in the last budget. The revised estimates of the food subsidy bill for the current financial year are around Rs. 3.90 lakh crore.

In 2021, it will be Less than 4.22 lakh crore. However, in the financial year 2022, the food subsidy will be higher than that allocated in the budget.
The Center will continue to distribute free food grains under the Prime Minister's Garib kalyan Anna Yojana (PMGKAY) till march 2022 due to the corona epidemic.

 For the 2022 financial year, prime minister Garib kalyan said the total cost of the project would be Rs. 1.47 lakh crore. The government has allocated Rs 79,530 crore in the budget for fertilizer subsidy for the 2022 financial year.

However, due to rising fertilizer prices and supply constraints, the government will have to double the additional funds.
This would almost double the subsidy bill to Rs 1.41 lakh crore.

According to the report, the allocation for the fertilizer subsidy will be less than the revised estimates for the 2023 financial year, Finance Ministry officials said.
In particular, the Prime Minister's Garib kalyan scheme has cost a total of Rs 1.47 lakh crore this year, while Rs 90,000 crore has already been spent, said Aditi Nair, chief economist at the credit rating agency.

That means an additional allocation of Rs 60,000 crore for food subsidies. It has become questionable how Parliamentary budget meetings can be conducted under these circumstances.

 According to Corona, this time the budget meetings of the parliament will be held in two tranches. In this context, the dates of the finances classes of parliament were finalized.

 The first tranche of Parliamentary finances conferences may be held from january 31 to the 11th of February.  The 2nd installment of the Parliamentary Budget Sessions may be held from march 14 to april 8.
The choice became taken via way of means of the Parliamentary Affairs Committee.  President ram nath kovind will cope with the joint sittings of parliament on january 31 at eleven am as a part of the primary tranche finances conferences.


Union Finance minister Nirmala Sitharaman will gift the finances withinside the house on 11 o clock in the morning on  February 1.
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Budget 2022

D N INDUJAA

17/01/2022 05:49 PM