All the Major Highlights you need to know about the Union Budget 2022-23

The Finance Minister Nirmala Sitharaman today presented the anticipated Union Budget 2022-23 which on one hand received praises, while on the other managed to raise eyebrows of the general public. The key highlights of the budget mentioned that the expansion of highways is proposed to increment by a whopping 25,000 km. In an attempt to overcome the problem of water shortage, the government will be allocating Rs. 60,000 crore to Nal se Jal scheme. Overall, five big infra projects have been announced.

In order to boost investment in start-ups in hopes of boosting the currently doomed economy, the FM proposed to cap the surcharge on long-term capital gains from shares of unlisted companies at 15%. The budget also inculcated the PPP (Public-Private Partnership) mode of delivery for digital services to the farmers in order to make the farming industry, tech-oriented. A "Digital University" will also be formed to provide world-class facilities to Indian students.

The imported items will see a rise in the prices from the coming month of April. Items like Umbrellas, Unblended Fuel, Headphones, Imitated Jewelleries, Solar-Cells, Solar Modules, etc will see an increase in price. However, certain items will see a dip in price owing to the slashed custom duties. For instance, the cost of Quids, Cocoa Beans, Methyl Alcohol, Acetic Acid, Cut and Polished diamonds, and camera lens will see a decrease in the price.

The current budget, though inculcates the 23 tele-mental health centers, a significant allocation to the healthcare and education sector was missing. No notable amount has been forecasted for the Indian Medical Device Industry, which currently is dependent majorly on imports. Dr. Alok Roy, member, FICCI, Health Services Committee, and Chairman Medica Group of Hospitals, stated that it was expected that the government would look at increasing the healthcare expenditure above 2.5% of the GDP but there was not adequate attention paid to it.