Union Budget 2022: Sitharaman lays down roadmap for 'Amrit Kaal'; what you need to know
Finance Minister Nirmala Sitharaman on Tuesday said the Union Budget laid down the roadmap to steer the economy over the next 25 years – from India at 75 to India at 100 – the period she termed as “Amrit Kaal”.
Finance minister Nirmala Sitharaman on Tuesday said the Union Budget laid down the roadmap to steer the economy over the next 25 years – from India at 75 to India at 100 – the period she termed as “Amrit Kaal”.
"We are marking Azadi ka Amrit Mahotsav, and have entered into Amrit Kaal, the 25-year-long leadup to India@100," Sitharaman said.
The fundamental tenets of the Budget include transparency of financial statement and fiscal position, and reflect the government’s intent, strengths, and challenges, she said.
Let’s find out what is “Amrit Kaal” and what the government will focus on during the next 25 years:
What is 'Amrit Kaal'
The word was used by Prime Minister Narendra Modi on 15 August for the first time while unveiling the roadmap for the next 25 years.
He said that the purpose of Amrit Kaal is to better the lives of citizens, lessen the development divide between villages and cities, reduce government interference in people's lives, and have the latest technology.
"Starting from here, the journey of the next 25 years is the Amrit Kaal of a new India. The fulfilment of our resolutions in this Amrit Kaal will take us till 100 years of independence," Modi added.
Also read: Union Budget 2022 by numbers: Rs 5.25 lakh cr for defence, Rs 7.50 lakh cr capital expenditure
What the finance minister said
During her Budget speech on Tuesday, Sitharaman again invoked the term saying the fundamental tenets of the Budget include transparency of financial statement and fiscal position, and reflect the government’s intent, strengths, and challenges.
“The Budget lays a parallel track of a blueprint for the Amrit Kaal, which is futuristic and inclusive, directly benefiting youth, women, farmers, the Scheduled Castes and the Scheduled Tribes,” she said.
During the Amrit Kaal, the government will also focus on big public investment for modern infrastructure, readying for India at 100 and this shall be guided by PM Gati Shakti and be benefited by the synergy of multi-modal approach.
She outlined four government priorities for the Amrit Kaal as
1) PM Gati Shakti,
2) Inclusive Development
3) Productivity Enhancement & Investment, Sunrise Opportunities, Energy Transition, and Climate Action
4) Financing of Investments.
What is PM GatiShakti?
Prime Minister Narendra Modi announced PM Gati Shakti on 15 August it was later launched on 14 October.
Touted as the “National Master Plan for World Class Modern Infrastructure”, PM Gati Shakti is driven by seven engines, namely Roads, Railways, Airports, Ports, Mass Transport, Waterways, and Logistics Infrastructure.
The government will formulate the PM Gati Shakti master plan for expressways in the financial year 2022-23 to facilitate faster movement of people and goods.
The National Highways network will be expanded by 25,000 km in 2022-23 and Rs 20,000 crore will be mobilised.
As part of the master plan, contracts for implementation of Multimodal Logistics Parks at four locations through PPP mode will be awarded in 2022-23.
In Railways, ‘One Station-One Product’ concept will be popularised to help local businesses and supply chains.
Also read: Union Budget 2022: Nirmala Sitharaman presents Budget amid Opposition taunts and applause from treasury benches
Four hundred new-generation Vande Bharat trains with better energy efficiency and passenger riding experience will be developed and manufactured.
Under the PM Gati Shakti project, postal and railway networks will be integrated.
A total of 100 PM Gati Shakti cargo terminals for multimodal logistics facilities will be set up during the next three years.
With inputs from agencies
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