India’s Amrit Kal Budget 2022-2023

“In the midst of every crisis, lies great opportunity”. Budget 2022-2023 presented by Finance Minister today widely and deeply reflects this underlying theme attributed to great scientist Albert Einstein. I see Master dream of PM Modi about ‘sabka saath sabka vikas’ scattered all over in budget . Now on , once the budget approved by parliament, all would depend on ‘ Maha Modi Mechanisms’  to put it in action-mode. That would need ‘ sabka prayas’.

Indeed, Finance Minister  started her speech by recalling sufferings inflected on people due  COVID19 Pandemic. Though Government is dealing with the pandemic in committed and laudable way for which every Indian should be  proud of, there are , however, two pandemics running parallel. That makes the first pandemic , COVID19,  look like a toy. The second dreaded crisis takes  our planet to our  existential threats. Finance Minister took 10 minutes down her speech to come to this second crisis Climate Change, which is crisis of  life of our times and people are already suffering. She should have recalled that too.

2021-2030 is the ‘Decade of Action’ declared by United Nations to achieve the targets of Sustainable Development Goals ( SDGs) and to contain the climate change. I , therefore , wanted to see  in all the proposals  presented in the budget,  particularly the allocations for infrastructure, investment, capital expenditure, health sector, education, at least the declaration that ‘all the infrastructure and seven engines of growth would have mandatory “Climate Resilient and net zero decarbonization’  features. I did not hear that.

Emphasis on the budget provision for energy transition and Climate Action aimed at enhancing share of renewable energy, solar ( ambitious target of 280 gigawatts in 2030) , hydro, wind, bio-mass, circular economy  would see quantum jump in manufacture , installation and hence employment. In reality the employment in  the renewable energy sector is growing faster than in the fossil fuel industry. Green Bonds proposed as catalytic trigger in fixing targets for decarbonization of economy or ‘ net zero’ announcement by PM Modi In COP26 in Glasgow, would certainly see steep rise in green jobs.

Battery swapping policy, energy efficiency enhancement for electrical vehicles, 60 km of rope ways to decrease the air pollution in mountain area, low carbon urban development and agriculture are well proposed in the budget along with deployment of digital technology like AI and IoT. Emphasis on skilling the youth, digital education and start-ups were well  thought of.

Budget

What I liked the most in the budget is that it was futuristic. Yes, it was a  financial budget for 2022-2023 but it was futuristic budget for 2045-2046. The best part of budget was when finance minister said that “ we are entering ‘azadi ka amrit Mahotsav’ , when India will be @100. So it was a budget of Amrit Kal”. When India celebrates 100 years of independence, I really feel that we would also celebrate freedom from Climate Change.

Indeed, it was budget of the country where the projected growth rate was the highest in the world,  compared to all large countries. Indeed for Gati-Shakti to speed up the implementation promoted by PM Modi needed seven engines-roads, railroads, air-ports, ports, mass transition, waterways and logistics . I only hope that they are embedded with SDGs and Climate Resilience. END

I give 9 out of 10 as my assessment.