Budget 2022 is a futuristic budget: Arvind Kumar, Director General, STPI

Arvind Kumar, Director General, STPI has praised Budget 2022 and has appreciated the efforts undertaken by the Finance Minister

Arvind Kumar, the newly appointed Director General of the Software Technology Park of India (STPI) has appreciated the Budget 2022 announcements made by Nirmala Sitharaman, Union Minister of Finance, Government of India. He termed the budget as ‘futuristic’ and also added that this would help the country achieve higher growth.

“The Budget 2022 is a futuristic budget with focus on catapulting India@75 to India@100. Emphasis laid on Digital India and Technology Enabled Development can play a transformational role in realising the vision of $1 trillion digital economy,” said Kumar

“Significant focus on the digital sector including the launch of digital services and facilities in every area along with facilitating digital services to farmers, and big announcements like rollout of digital currency by leveraging blockchain technology to setting up digital university, revving up e-passport, digital education, digital application in the field of health, banking & online facilities in post offices can catalyse the digital revolution in the country while creating lot of opportunities in IT/ITES sector, accelerating growth, bolstering industrial productivity, and taking India to the next orbital growth,” he added.

Some of the Important Budget 2022 announcements that were made are as follows: 

• Emergency Credit Line Guarantee Scheme will be extended up to March 2023, the guaranteed cover will be expanded by Rs 50,000 crores to total cover of Rs 5 trillion. Additional amount earmarked exclusively for hospitality, and related sectors.
• Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) to be revamped with required fund infusion Will facilitate additional credit of Rs 2 lakh crore for Micro and Small Enterprises and expand job opportunities.
• Raising and Accelerating MSME Performance (RAMP) with an outlay of Rs. 6,000 crore over 5 years will be rolled out to enable the MSME sector to become more efficient, resilient and competitive.