Budget 2022 | Read full speech of FM Nirmala Sitharaman

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Finance Minister Nirmala Sitharaman presented Union Budget 2022 in Lok Sabha on February 1.

Nirmala Sitharaman delivers her shortest budget speech of 1 hour, 30 minutes.

the government’s fiscal deficit for the financial year 2022-23 at 6.4% of gross domestic product (GDP), demonstrating the government’s intent to walk the talk on fiscal rectitude.

The Union government’s fiscal deficit was down 35.3 percent year-on-year at Rs 6.96 lakh crore in April-November 2021 period, accounting for 46.2 percent of the Budget estimate for the current financial year, as tax collections remained robust and spending muted.

The Budget for 2021-22 pegged the fiscal deficit for the full year at Rs 15.07 lakh crore, or 6.8 percent of GDP, which has been revised to 6.9 percent.

The budget has proposed a fiscal deficit of 4.5% of GDP by 2025-26. A fiscal deficit of 4% of GSDP will be allowed for states in 2022-23.

Follow Moneycontrol's Union Budget 2022 live coverage here.

National Highways would be expanded by 25,000 km in 2022-23 under the Prime Minister's Gati Shakti Plan.

The Gati Shakti plan is aimed at bringing 16 ministries together for infrastructure and connectivity projects. A sum of Rs 20,000 crore would be mobilised for the project, through various methods of financing in 2022-23.

The goal of 25,000 km by 2022-23 means building 70 km per day, which is double the rate of 40 km that was targeted for 2022, the minister added.

To read full text of union Budget 2021 click here