Monetary Sector (Union Budget 2022-23)

The Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman tabled the Union Budget 2022-23 in Parliament.

The key highlights of the budget are as follows:

Banking

100 per cent of 1.5 lakh post offices to come on the core banking system.

Scheduled Commercial Banks to set up 75 Digital Banking Units (DBUs) in 75 districts.

Digital Rupee

Introduction of Digital Rupee by the Reserve Bank of India starting 2022-23.

Mobilising Resources

Data Centres and Energy Storage Systems to be given infrastructure status.

Venture Capital and Private Equity invested more than Rs. 5.5 lakh crore last year facilitating one of the largest start-up and growth ecosystem. Measures to be taken to help scale up this investment.

Blended funds to be promoted for sunrise sectors.

Sovereign Green Bonds to be issued for mobilizing resources for green infrastructure.

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