Digital health platform creates national digital health ecosystem with provider registries, unique health IDs and tele mental network.
The Budget establishes an open-platform National Digital Health Ecosystem under the Ayushman Bharat Digital Mission, comprising digital registries of providers and facilities, a unique health identity, and a consent framework to enable universal access and interoperable digital health services. It also announces a National Tele Mental Health Programme to expand access to mental health counselling and care via a network of tele mental health centres of excellence supported by designated nodal and technology partners.

Customs tariff reform: phasing out concessional exemptions to prioritise domestic manufacturing and simplify duty structure.
The Customs administration for SEZs will become fully IT-driven with the Customs National Portal emphasising facilitation and risk-based checks. The Government will phase out concessional rates on capital goods and project imports in favour of a moderate tariff while retaining targeted exemptions for advanced machinery not made domestically and certain specialised components. Over 350 customs exemption entries will be removed and several concessional rates consolidated into the Customs Tariff Schedule to simplify the structure, reduce disputes, and prioritise duties that support domestic manufacturing under Make in India and Atmanirbhar Bharat objectives.

Alternate minimum tax relief for co operatives with surcharge caps, expanded start up and manufacturing incentives and stronger anti evasion rules.
Proposals reduce the Alternate Minimum Tax rate and surcharge for co-operative societies to improve parity with companies; extend the incorporation deadline for start-up tax incentives and the commencement period for concessionally taxed newly incorporated manufacturing companies; exempt specified IFSC incomes subject to conditions; require tax deduction where aggregate benefits to agents exceed a prescribed annual threshold; cap surcharge on long-term capital gains and associations of persons; disallow surcharge and cess as business expenditure; and prohibit set off of losses against undisclosed income detected in search or survey operations.

Direct payment of MSP to farmers credited to accounts following government procurement of wheat and paddy crops.
Direct payment of MSP for wheat and paddy will be credited to farmers' accounts following large scale procurement. A PPP scheme will deliver digital and hi tech agri services; a NABARD facilitated blended capital start up fund will finance agriculture and rural enterprise innovations. The Ken Betwa link project is planned to expand irrigation, drinking water supply and renewable power with central support after inter state consensus. Promotion of drone use, chemical free natural farming corridors, millet value addition and a comprehensive oilseed production scheme are further announced, alongside a food processing package and agricultural university curriculum revisions.

Capital investment assistance to states expanded, with long term interest free support and a 4% GSDP fiscal deficit framework tied to reforms.
Central support increases the Scheme for Financial Assistance to States for Capital Investment and establishes long tenor interest free financing to catalyse state productive investment, earmarked for PM Gati Shakti projects, supplemental rural road funding, digitisation including OFC completion, and reforms in building byelaws, town planning, transit oriented development and transferable development rights. States are permitted a fiscal deficit ceiling of 4% of GSDP for 2022-23, with 0.5% tied to power sector reform conditionality communicated in 2021-22, and these allocations are additional to normal state borrowings.

Capital expenditure increase to prime private investment, with sovereign green bonds mobilizing finance for green infrastructure projects.
The Budget raises central government capital outlay substantially for 2022-23 and treats direct capital spending together with Grants-in-Aid to States as an estimated Effective Capital Expenditure representing a larger share of GDP. Higher public investment is presented as necessary to crowd-in private investment and support demand, employment and infrastructure. The government will issue Sovereign Green Bonds within overall market borrowings to mobilize resources exclusively for public sector green infrastructure projects that reduce carbon intensity.

Central Bank Digital Currency introduction to boost the digital economy and streamline currency management nationwide.
A Central Bank Digital Currency (Digital Rupee) is proposed for issuance by the Reserve Bank to boost the digital economy and reduce currency management costs; blockchain and related technologies are referenced for implementation. Concurrent measures include adding data centres and energy storage systems to the harmonized infrastructure list to improve credit access, forming an expert committee to scale venture capital and private equity by addressing regulatory frictions, and promoting thematic blended-finance funds managed by private managers with limited government share to finance sunrise sectors while using multilateral technical assistance to enhance infrastructure project viability.

Women-led development: upgraded anganwadis as Saksham centres strengthen early childhood development and integrated women and child welfare.
The Union Budget prioritises women-led development by revamping Ministry of Women & Child Development schemes into an integrated package-Mission Shakti, Mission Vatsalya, Saksham Anganwadi and Poshan 2.0-and directs upgrading existing anganwadi centres into new-generation Saksham Anganwadis with improved infrastructure, audio-visual aids, clean-energy power and enhanced early childhood environments to strengthen integrated nutrition and welfare services.

Defence procurement policy prioritises domestic industry, opens defence R&D to private collaboration and mandates testing infrastructure.
Reiterates commitment to Atmanirbharta by increasing the share of capital procurement reserved for the domestic industry compared with the prior year. Opens Defence R&D to industry, startups and academia by earmarking a portion of the R&D budget, encourages private industry to undertake design and development of military platforms through an SPV model, and proposes an independent nodal umbrella body to meet testing and certification requirements.

Special Economic Zones replacement enables state partnership and expands GIFT City regulatory autonomy for financial services.
Replacement legislation will reframe large industrial enclaves as state-partnered Enterprise and Service Hubs to optimise infrastructure and boost export competitiveness. For GIFT City, proposals permit world-class foreign universities to offer financial, fintech and STEM courses largely free from domestic regulations except oversight by the designated financial regulator; establish an International Arbitration Centre for disputes under international jurisprudence; and facilitate services for global capital in sustainable and climate finance.

Budget 2022-23 advances major infrastructure investment, tax reforms, green finance, digital currency and startup incentives.
The Budget 2022-23 prioritises PM GatiShakti-driven multimodal infrastructure, inclusive sectoral supports for agriculture, MSMEs, health, education and housing, and steps to mobilise investment by raising capital expenditure and deploying financing instruments including sovereign Green Bonds, blended thematic funds and state interest-free loans. Tax and regulatory reforms include an Updated Return facility, cooperative AMT reduction, extensions of startup and manufacturing incentives, a 30% tax regime with 1% TDS for virtual digital assets, litigation-management measures to avoid repetitive appeals, and introduction of a Central Bank Digital Currency.

Fiscal deficit estimate signals continued fiscal consolidation while prioritising stepped-up capital expenditure and planned market borrowings.
Fiscal deficit for 2022-23 is estimated at 6.4% of GDP, consistent with a fiscal consolidation path targeting a deficit below 4.5% by 2025-26 while supporting growth through public investment. Capital expenditure is increased by 35.4% to raise central capital outlay to 2.9% of GDP and, with Grants-in-Aid to States, produce an Effective Capital Expenditure of 4.1% of GDP. Market borrowings are planned to meet financing needs.

Accelerated corporate exit to shorten voluntary winding-up timelines and support insolvency reforms including cross-border resolution
The government completed a strategic transfer of a major national carrier, selected a strategic partner for a state steel enterprise, and expects a large insurer's public issue. New institutions for infrastructure finance and asset reconstruction have commenced. A Centre for Processing Accelerated Corporate Exit (C-PACE) will be set up to shorten voluntary winding-up timelines using IT systems, and amendments to the Insolvency and Bankruptcy Code are proposed to enhance resolution efficacy and facilitate cross-border insolvency.

National Skill Qualification Framework alignment to industry needs, enabling reskilling through a national digital skills portal and digital university.
Reorientation of skilling programmes requires alignment of the National Skill Qualification Framework with dynamic industry needs and creation of a national digital skilling ecosystem (DESH-Stack eportal) to provide online training, trusted skill credentials, payment and job-discovery layers. A Digital University and teacher-driven high-quality multilingual e-content will expand universal access to personalised education; expansion of the one-class-one-channel eVIDYA initiative and establishment of virtual and skilling e-labs will support supplementary and simulated learning. Startup incentives are extended and a clarification will treat surcharge or cess on income as not allowable as business expenditure.

Taxation of virtual digital assets: transfers taxed with limited deductions, losses non setoff, TDS and gift taxation consequences.
The Budget permits taxpayers to file an updated income tax return within two years from the end of the relevant assessment year on payment of additional tax to correct omitted income. It proposes expanded relief for dependants with disabilities allowing annuity or lump sum payments during parents' lifetime, increases the employer contribution deduction for State government employees' NPS accounts to align with central employees, establishes a taxation regime for virtual digital assets with restricted deductions, non setoff of losses, TDS on transfer payments, and taxes gifts of such assets, and defers departmental appeals where an identical legal question is pending before higher courts.

PM GatiShakti National Master Plan to integrate multimodal infrastructure and enable real time logistics data exchange for efficiency.
PM GatiShakti National Master Plan integrates seven infrastructure sectors to enable seamless multimodal connectivity by aligning National Infrastructure Pipeline projects with a unified framework focused on planning, innovative financing, technology adoption, and faster implementation. A key operational measure is the Unified Logistics Interface Platform (ULIP) with API based real time data exchange among mode operators to reduce logistics costs, simplify documentation, and support efficient movement of goods and passengers. Implementation measures include PPP Multimodal Logistics Parks, rail safety and capacity upgrades, cargo terminals, ropeways, and state capacity building supported by long tenor interest free funds.

Emergency credit guarantee expansion extends coverage and targets hospitality firms, alongside revamped credit and MSME support programmes announced.
The Emergency Credit Line Guarantee Scheme is extended to March 2023 with expanded guarantee cover targeted at hospitality and related micro and small enterprises; CGTMSE will be revamped to enable additional credit for micro and small enterprises. A multi year RAMP programme will support MSME resilience, and Udyam, e Shram, NCS and ASEEM portals will be interlinked to provide live databases for credit facilitation, skilling and recruitment. Customs duties will be rationalised, including changes to umbrella duties, adjustments to exemptions for agri implements and steel scrap, and revocation of certain duties on specified steel products.

Inclusive economic focus steers budget to use public capital to crowd in private investment and technology led development.
The budget sets a 25 year Amrit Kaal framework prioritising inclusive growth through technology enabled development, using public capital investment to crowd in private investment, enhance productivity, and promote energy transition and climate action. It identifies integrated multimodal infrastructure to guide major public investments, an inclusive agenda for vulnerable groups, expansion of digital economy and fintech, and reinforcement of health infrastructure and vaccination as elements underpinning resilience and future growth.

Finance Act 2022 taxes virtual digital asset transfers at 30% and permits an updated return within two years with additional tax.
The Finance Act, 2022 prescribes revised income tax charging provisions including revised surcharge rates and a 4% Health and Education Cess, establishes a statutory definition and specific tax regime for virtual digital assets taxing transfers at 30% (no deductions save cost of acquisition and no set off of related losses) with proposed TDS/TCS reporting, creates an Updated Return facility allowing declarations within 24 months with additional tax and interest, and mandates faceless electronic assessment procedures via a National Faceless Assessment Centre with dedicated units for assessment, verification, technical assistance and review. It also tightens compliance, registration and tax treatment for charitable and specified institutions and strengthens anti evasion rules regarding undisclosed income and unexplained credits.

Budget session significance: MPs urged to engage in open, constructive debate to set the country's economic roadmap.
Budget session significance is emphasised as the mechanism for framing the nation's economic roadmap; MPs are urged to treat the session as a high-priority legislative forum that, despite concurrent elections, must feature open, constructive debate and cross-party cooperation so the session yields productive policy momentum. The statement also highlights India's vaccination efforts and domestic vaccine credibility as global opportunities that increase the session's importance for economic progress.