Union Budget 2022-23 updates on Industry and Commerce

Union Budget 2022-23 updates on Industry and Commerce

The Union budget 2022 focussed on the Ease of doing business and got rid of several overlapping and redundant compliances. The Finance Minister made announcements for a new phase of Ease of doing business and Ease of living through-

  • Active participation of the states.
  •  Digitization of manual processes and interventions.
  • Use of IT bridges to integrate the central and state-level systems.
  • Single point access for all citizen-centric services
  •   Standardizations and removal of overlapping services

The union budget displayed a balance between the challenges posed by the economy due to the recurring COVID-19 waves and the need to contain the damages sustained by the economy. The budget focuses on a strong foundation for the future.

It emphasizes sustainable and inclusive growth while maintaining the space for fiscal prudence. The budget supports economic recovery through active policymaking. The Finance Minister addressed the development of industry and commerce with an inclusive approach towards vulnerable sections of this sector.   

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