India is now USD 3.20 trillion economy and it aims to touch the USD 5 trillion mark by 2025.To achieve this target, Budget 2022 needs to focus on infrastructure, Health, Agriculture and Export.
Infrastructure
Union Finance Minister Nirmala Sitharaman will present the budget 2022 on 1feb 2022. I think infrastructure will be top priority.we know investment in infrastructure has strong impact on economic growth on any country.We know $1 investment in infra can generate $20 economic activities. We also know Agriculture, Manufacturing & Services sector directly related to infrastructure.
Health budget at lest 3% of GDP
We know medical debt a major cause of poverty in India.About 55 million Indians were pushed into poverty in a single year due to patient- care costs, as per a study by the Public Health Foundation of India.
So, Union budget 2022,needs to focus on healthcare segment ,public expenditure on the sector needs at least 3 per cent of the GDP in the upcoming union budget.
Agriculture Budget
over 55% of India’s population in rural areas and linked to farm incomes, any increase in rural growth will translate into economic growth for the country.So,a majority of Indians want agriculture to be the top focus areas of Finance Minister Nirmala Sitharaman's Union Budget 2022.
We know Union Government adopted a strategy to double the farmers' income by 2022.But,The average monthly real income of the all categories of farmer households at all-India level has actually declined from Rs. 6045 in 2012-13 to Rs. 5925 in 2018-19 . So, Union budget 22 needs to focus on agriculture & farmers income.
Export
Trade one of the key indicator of economic growth.But India is a trade deficit country.India depends on import rather than export.
According to Kotak Securities,the country’s trade deficit is expected to widen to $190 billion in the current fiscal year 2021-22, and further to $200 billion in the next fiscal year 2022-23.
We know India has set a target of $400 billion for merchandise exports for the current fiscal and an ambitious $1 trillion by 2030.But India achieved $300 billion in merchandise export from Apl -Dec 21.India's export fell faster among emerging countries,need strong budget boost.I think strategic incentives through
