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BFSI Chronicle, 11 Edition September2022
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The government raises money from the market to support the MSME sector by way of extension of
fund its fiscal deficit through dated securities and ECLGS scheme till March 2023 and expansion of
treasury bills. the guarantee cover by 50,000 crore to5 lakh crore.
Savers may have another fixed income investment
Green bonds are a new fixed income invest- option in the form of Green Bonds. The Reserve Bank

ment option: of India will be introducing the Digital Rupee using
The Union Budget 2022 is a visionary Budget with a blockchain and other technologies in 2022-23.
25-year outlook. It continues the momentum of the
2021 Budget with steadfast focus on infrastructure The overall expenditure for FY23 is pegged at 39.45
building, infrastructure financing, manufacturing trillion, up 13% as compared to FY22BE while total
and productivity enhancement using technology receipts excluding borrowings are estimated at22.84
and digital outreach, as the growth engines of the trillion. Revenue estimates look conservative and can
economy. surprise on upside just like they did in FY22. FY23
fiscal deficit is pegged at 6.4%, down 50 bps from
The focus is on building logistics, mobility and the revised estimate of 6.9% in FY22. Nominal GDP
connectivity of goods and people through the PM growth estimates are conservative at 11% for FY23.
Gati Shakti National Master Plan. Within mobility, With inflation being where it is and economy being in
the focus is on clean and sustainable mobility with a cyclical upturn, we can have a pleasant surprise here
a battery swapping policy and formulation of too, which will mean that fiscal deficit as a percentage
interoperability standards for EVs. The auction of of GDP is lower than the estimated 6.4%.
5G spectrums in 2022, followed by a rollout of 5G
services in 2022-23 will enhance connectivity and References:
provide employment opportunities. 1. - https://www.outlookindia.com/business/
green-bonds-to-be-rupee-denominated-
The 25,000 kms of highways, launch of the Unified with-long-tenure-says-dea-secretary-news-
Logistics Interface Platform, four multimodal logistics 121271?utm_source=related_story
parks through PPP mode, 100 multimodal cargo
terminals and 400 new Vande Bharat trains coupled 2. - https://www.outlookindia.com/business/
with an infrastructure focused skill upgradation why-the-need-to-issue-green-bonds-in-india--
project to improve implementation, are all steps in news-56330
the right direction. Capex outlay for 2022-23 rises
by 35.4% to 7.5 trillion (2.9% of GDP) leading to an 3. - https://www.financialexpress.com/budget/
incremental outlay of2 trillion. budget-2022-23-green-bonds-are-a-new-fixed-
income-investment-option/2423513/
Technology and digital infra will be a key enabler
with the launch of e-Passports, ULIP, DESH-Stack, 4. - https://www.businesstoday.in/union-
interlinking multiple portals, Kisan drones, expansion budget-2022/decoding-the-budget/story/
of PM eVIDYA programme, virtual labs in science budget-2022-a-big-thumbs-up-for-sovereign-
and mathematics, a multilingual Digital University, green-bonds-321144-2022-02-01
health ecosystems, etc. There have been steps to

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