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Budget Highlights 2022-23

Read latest news and updates on Indian Budget Highlights 2022-23. Our panel lists shared their assumptions from the budget plan 2022 with reference to attracting investments in India with the economic agenda 2022 as well as the total tax plan. <br>

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Budget Highlights 2022-23

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  1. Budget Highlights 2022-23 The Budget Circular 2022-23, containing the formats, circulars and timelines relating to the submission of Union Budget related information to the Budget Division, Ministry of Finance, is attached. 2. All data shall be submitted on Union Budget Information System . The Statement of Budget Estimates and the Demand for Grants, inter-alia, shall be generated from the UBIS. Hence, the correctness of the figures is to be ensured. This data shall be the basis for pre-Budget discussions. Hard copies of the data along with specified formats may also be submitted to the Budget Division for cross-verification. 3. All Financial Advisers are requested to go through the Budget Circular carefully. Some of the new inclusions in the Circular relates to providing of information on important/ major/umbrella schemes and IEBR (Internal Extra Budgetary Resources). FAs shall ensure that SBEs of their Ministries/Departments shall be congruent to the Detailed Demand for Grants presented to Parliament. 4. Budget-making is a team exercise. I solicit your active co-operation for the successful completion of this exercise.

  2. Finalization of Budgetary Estimates 1 Given the special circumstances of this year, the basis of the final budgetary allocations will be overall fiscal position, and subject to that the absorptive capacity of the Ministry/Department. 2. Ceilings for all categories of expenditure, including Central Sector and Centrally Sponsored schemes will be discussed. Accordingly, the RE 2021-22 and Union Budget 2022-23 for Budgetary Estimates on all categories of expenditure, and select schemes/projects, may be indicated separately for Revenue and Capital expenditure. 3. It is proposed to discuss the totality of the requirements of funds for various programmes and schemes, along with receipts of the Departments (viz. interest receipts, dividends, loan repayments, departmental receipts, receipts of Departmental Commercial Undertakings, etc.) during the pre-budget meetings chaired by Secretary (Expenditure). 4. The details of NTR mobilization and the potential by the Ministry/Department shall be discussed during the pre-Budget meetings. Hence, Ministries/Departments are requested to come prepared for the discussions related to their

  3. 5. For the Budget Estimates of 2022-23, the allocations will be finalized for the Establishment and Other Central government expenditures. For the Central Sector (CS) schemes and Centrally Sponsored Schemes (CSS), tentative ceilings would be discussed during the pre-budget meetings. What’s there for you? • Economic agenda 2022 - Top five priority areas which Govt should look into • Attracting investments in India • Policy Imperatives for Budget 2022 – assessing the impact of the recent policies and recommendations on further interventions required to stimulate growth.

  4. THANK YOU

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