Union Budget for the 2022-2023 was presented in a paperless format. Finance Minister Nirmala Sitharaman read out the Budget at the Parliament through the tab. Nirmala Sitharaman started the presentation of the Union Budget 2022-23 by expressing the empathy to those who died due to COVID-19, and said that the digital rupee would be introduced by the RBI in 2022.
Digital rupee to be issued using the blockchain and other technologies, to be issued by the Reserve Bank of India starting 2022-23. It will give a big boost to the economy.”
The digital banking identified as focus area with scheduled commercial banks.
An end to end online bill payment system to be launched for all the central govt ministries.
To provide an opportunity to correct an error, the taxpayers can now file an updated return within two years from the relevant assessment year
For 2022-23,allocation is Rs 1 lakh crore to assist states in catalyzing overall investments in the economy. These 50 years interest free loans are over and above normal borrowings allowed to states. It’ll be used for PM Gati Shakti-related and other productive capital investments of states
The focus on promoting the use of the payment platforms that are user friendly.
Govt will set up 75 digital banking units in 75 districts by scheduled commercial banks
2,000 km of the rail network to be brought under the indigenous world-class technology KAWACH, for safety and capacity augmentation.