Union Budget 2022: Major announcements on Jobs, MSMEs and startups from FM

The presentation of Union Budget 2022, the 4th budget of the BJP government, by Finance Minister Nirmala Sitharaman is in progress.

At the start, the Finance Minister eulogized the country’s economic revival in the face of a cataclysmic COVID pandemic.

The Finance Minister started her speech by conveying empathy to those who suffered during the pandemic.

The government regularly attempt to lay out necessary ecosystem to all sections of the society, including the middle class, FM said. This budget presents a blueprint for the next 25 years, she added.

Here's what Finance Minister said:

Jobs:

1) ECLGS extended till March 2023, 60 lakh jobs eyed in next 5 years

2) Efforts of central, state governments leading to jobs, entrepreneurial opportunities

3) Digital ecosystem for skilling and livelihood to be launched.

4) This will aims to skill, reskill, upskill citizens through online training.

5) API based skill credentials, payment layers to find relevant jobs and opportunities

MSMEs and Startups:

1) Rs 6,000 crore programme to rate MSMEs to be rolled out over 5 years

2) MSMEs such as Udyam, e-shram, NCS & Aseem portals will be inter-linked, their scope will be widened

3) They will now perform as portals with live organic databases providing G-C, B-C and B-B services such as credit facilitation, enhancing entrepreneurial opportunities

4) A fund with blended capital raised under co-investment model facilitated through NABARD to finance startups in agri and rural enterprises for farm product value chain.

5) Startups will be promoted for Drone Shakti.

Also Read: India's economic growth estimated to be 9.27 pc, highest among all large economies: FM Sitharaman