A BUDGET FOR A FUTURE-READY INDIA
Spotlight | DC Correspondent
The Union Budget of 2022-2023 has set in motion a most promising and growth-oriented future for India
Mr. Kaustubh Sonalkar, Director (Advocacy Committee), International Association for Human Resource Information Management.
I see Budget 2022 as a people focused, growth oriented one. India is estimated to have a conservative growth of 9.2% for the financial year 2022, and I call it conservative because I feel the potential of India is certainly in double digits.
The Union Budget of 2022-2023 has set in motion a most promising and growth-oriented future for India. The Budget has successfully taken the pulse of the nation’s social and economic needs and delivered on it. It has identified inclusivity, education, sustainability, empowerment, and digitisation as the most constructive vehicles for the country’s future.
Digitisation will prove a key player in actualising the goals of this Budget. The Budget exploits the potential of all segments of the society by incentivising domestic industry and contract-based sectors, promotion of the start-up culture, and a revived focus on agri-development. Against the backdrop of the pandemic, digitisation will be a major mediator and equaliser.
The announcement of the digital Indian currency will boost the economy tremendously. While still in the works, the potential of economic growth through the digitalisation currency will be entirely unprecedented.
Educational provisions in the Budget will tap into the potential of a wider demographic and will diminish the boundaries of accessibility. Digitisation of universities and other institutes will enlarge the scope of education across the country. Skill development is going to empower rural talent which will in turn fuel the planned growth nationally and globally. A comprehensive approach to education will be the crux of current and future development.
Social inclusivity is an invigorating aspect of the Budget. Greater infrastructure for women empowerment will catalyse an environment of equality and balance. The urban spaces are going to prove hubs of women-centric growth. The inclusion of the LGBT community will further expand social transformation and counter marginalisation on the widest scale yet.
The challenges of the pandemic in the last two years are deftly responded to in the Budget. A strengthening of the healthcare system is a very welcome and heartening move. It will cause a renewal of faith and afford relief to the country which will be widely applauded. The move toward a national recognition of mental health is a valuable aspect of the Budget and is certain to be appreciated. A move toward a more accommodating social structure will be welcomed widely.
Infrastructure is also playing a crucial role in the overall growth of the country. Stronger and faster connectivity is changing the face of the country. Provisions for affordable housing, along with opportunities for employment and start-up business is going to inspire vast growth.
A dominant global concern in the last few years, that of climate change, is also skillfully addressed in the Budget. The impetus on clean, renewable energy is a resolution in tune with global environmental needs and concerns.
This Budget is a futuristic and holistic approach to maximise all-inclusive growth. It will undeniably lead to a mammoth transformation of a physical India to a digital India.
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