Highlights of Union Budget for 2022-23 *To... ... Budget 2022 Live Updates: Modi hails Nirmala Sitharaman for a people-friendly and progressive Budget

Highlights of Union Budget for 2022-23

*To facilitate use of surety bonds in govt procurement

*Required spectrum auctions to be held in 2022

*5G tech can enable growth, job opportunities

*To set up panel to promote audio visual, gaming sector

*Required 5G spectrum auctions to be held in 2022

*SEZ Act to be replaced with new law

*To provide affordable broadband, mobile svcs in rural areas

*To give contract to lay optic fibre for all villages via PPP

*To award optical fibre contracts in all villages in PPP mode

*Committed to cutting import in defence equipment

* New SEZ Act to promote optimal use of infra

*To complete laying optic fibre for all villages by 2025

*Govt committed to reduce defence equipment imports

*Defence R&D to be opened up for start-ups, academia

*To set up umbrella body for defence equipment certification

*68% of defence capex to be earmarked for domestic cos FY23

*25% of defence budget to be used on research, development

*Climate change risks strongest externality

*Propose several new actions to mitigate climate change

*Need mindful usage of resources