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Report on Annual Budget 2022 - 23

Annual Budget 2022 – 23 was a key event, it maps the way forward from pandemic ridden economy. The session oriented students about the overall process of Budget and parliamentary procedures. The session highlights the importance of initiatives taken during pandemic like Universal vaccination drive and aatmanirbhar Bharat.
Major highlights of the session
1. Revenue position of the government in one picture is explained.
2. The revenue shared with states and UTs is discussed and also the major trends in tax revenue are depicted.
3. Due to recent pandemic, the expenditure side is increased, leading to higher fiscal deficit. Fiscal deficit trends are also discussed in the session.
4. Sources of deficit financing
5. Likewise detailed proposals of health, education, infrastructure are discussed.
6. Indirect Tax collection and its trend.

Special emphasis of the budget was on Infrastructure sector which is key for long term growth of the economy. Substantial increase in capital expenditure, is one of the important points of this budget.
Students were made aware about, what is capital expenditure and how it enhances long term productivity and Outlook of the economy.

RBI will launch a digital currency in the financial year 2022-23. This is a big breakthrough, as digital currency will pave way of department digitisation of economy and easy payments and settlements.

It is also noticed that India will be the second country in the world to launch such digital currency. First country to launch Digital Currency on Pilot basis is China.

The Union Budget also highlighted need to move towards greener and cleaner sources of energy. The aim of moving to Carbon neutral economy is discussed in the session. Also trends which support carbon neutral economy and technologies which are critical to achieve this are highlighted.
Total 150 students attended the session and students asked about questions on Crypto Currency and Fall in GDP during pandemic.

Aldel Education Trust (AET)
St. John College of Engineering and Management (SJCEM)
St. John Institute of Pharmacy and Research (SJIPR)
St. John Junior College (SJJC)
St. John International School (SJIS)

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