UNION BUDGET FY22 : FOR V-SHAPED RECOVERY AND SUSTAINABLE GROWTH WITH INCLUSIVENESS
Mithilesh Kumar Sinha
Professor of Economics , Department of Economics , Nagaland University , Lumami-798627 , E-mail : mithileshkumarsinha5 @ gmail . com
ABSTRACT
The FY22 Budget has reinforced growth as the driver of India ' s transformation . The Covid-19 pandemic-induced economic crisis ensured that 2020 was a total washout . To revive investor sentiment and unleash animal spirits , a fiscal stimulus was the need of the hour . And , the finance minister has delivered just that heal to an ailing economy . The Union Budget FY22 was the much-needed booster shot to kickstart economic recovery and ensure sustained growth . The expansion in capital expenditure reiterates the Government ' s commitment to promoting investment-led growth .
The paper aims to examine the Budget FY22 Budget provision and its impact on the Indian Economy . Keeping this objective in mind , the paper is designed into three Sections . Section-I overviews the Indian Economy . Section-II examines the budget provision and its impact , and Section-III contains criticisms and concluding remarks .
Key Words : Atmanirbhar Bharat , Health and Well-being sector , Swachha Bharat , Swasth Bharat , Physical & Financial Capital & Infrastructure , etc .
ate president Kalam in his vision document , India 2020 , envisioned India
Las a developed nation of 1.2 billion . Whenever history is written , FM Sitharaman has ensured , February 1 will get star-studded recognition ( Butani : 2021 ). The Union Budget 2021-22 had to bear a unique burden of expectations . One of the most distressing years by far , 2020 , marked the year of a deadly pandemic that drastically impacted health , businesses , and communities across the globe . The Indian economy also got battered due to the subsequent lockdown , which exposed gaps in the supply chain and delays in working around the social distancing norms . Critical indicators such as de-growth in the economy , contraction in GDP , widening of fiscal deficit , and high inflation have highlighted the severe strike on the economy in the past year . Against the backdrop of an unprecedented global pandemic and an economic shutdown , the Finance Minister shouldered the daunting task of reviving an already drudging economy . ( https :// www . pwc . in / assets / pdfs / budget / 2021 / key-proposals-for-the-fs-sector . pdf ). The Government presented the first paperless Budget – 2021-22 . As the finance minister has claimed , this Budget will be like never before , and so in line with the idea , the finance minister also did away with certain traditions that had been followed up till now . Till 2019 ,
Economic Challenger // ISSN 0975-1351 / Volume 23 / Issue 91 , April-June 2021 Union Budget FY22 : For V-shaped Recovery 3