Union Budget 2022 | Laying the foundation for Digital India 2.0

While there is mention of light touch regulation for AI, Green Energy, Clean Mobility, more was expected to accelerate growth in these sunrise sectors.

We still do not know if the worst is over. Neither do we know which way the wheels of fortune will swing with the Corona virus and what will be the impact of the next mutation. The oils prices are threateningly high, and drums of war are heard in Ukraine & Middle East.

But with all these risks, the FM presents the budget for a country that is a bright spot in an otherwise dark horizon. At 9.2%, India is the fastest-growing, large economy with over $630 billion of foreign reserves equaling 13 months of imports, inflation is under control and stock markets and corporate results shinning positively, and vaccination is a success with 93% of eligible population getting single dose and 70% fully vaccinated.

But the FM must know that there is a dark underbelly to the bright spot. That underbelly is unemployment rate. Officially, 7.2% is the unemployment rate but reality is far worse. It is possibly the single greatest challenge that the FM must address through her Budget.