Press release by BJYM National President Shri Tejasvi Surya on Union Budget 2022.

BJYM Press Release on Union Budget 2022-23

 

Press statement by BJYM National President Shri Tejasvi Surya

 

BJYM whole heartedly welcomes the Union Budget 2022-2023. The budget is an embodiment of a “Youth centric Budget”, reflecting the aspirations of a young India and millions of young Indians. It is a testimony to PM Shri Narendra Modi ji’s vision of empowering young Indians and catalyzing their participation in the development of the country and its economy.

The innovative and futuristic announcements made in the budget lay emphasis on the Yuva Shakti of Bharat, promoting youth development across all key sectors, with focus on entrepreneurship, education and employment. As India prepares itself in its journey towards the Amrit Kaal in 2047, the 25-year-long leadup to India@100, this budget gives a strong blueprint to enhance “Yuva Shakti” in India through focused youth empowerment and youth leadership.

The key youth-centric announcements made in the Union Budget 2022-23 are as follows:

1.Major boost to Startup India

●       Extension of period of incorporation of eligible startups for providing tax incentives by one year.

●       A fund with blended capital will be facilitated through NABARD to finance startups for agricultural and rural enterprise.

2. Opening up of Defence Budget Procurement for Startups

●       Defence R&D will be opened up for startups and other private players with 25% of Defence R&D Budget earmarked. They will be encouraged to take up design and development of military platforms and equipment.

3.Promotion of Drone-As-A-Service Sector (DrAAS)

●       Startups will be promoted to facilitate Drone Shakti for Drone-As-A-Service. This will help facilitate young entrepreneurs and enthusiasts with new drone technology while creating employment opportunities within the sector.

 

 

 

4. Task Force to be set up to promote AVGC Sector

●       A task force has been constituted for the promotion of AVGC (Animation, Visual Media, Gaming and Comic). This sector will play an important role in youth empowerment and in realization of the goal of trillion-dollar services exports from India.

5. Digital Transformation in Skill India

●       Digital Ecosystem for Skilling and Livelihood (DESH-Stack e-portal) will be launched to promote online skilling and training amongst youth.

6. New Era of Digital Education

●       To provide access to quality education to students impacted by the COVID pandemic, One Class One TV channel programme has been expanded to 200 TV channels.

●       A digital university is to be established with world class quality universal education facilities.

 

7. Introduction of Digital Rupee

●       In 2022-23 RBI will introduce Central Bank Digital Currency using blockchain technology. This will give a massive boost to the digital economy and will also ensure an efficient and cheaper currency management system.

●       Young citizens, who have been a large user base of the digital economy will be immensely benefited as it will open up new and easy avenues for innovative financing and financial transactions.

 

8.Promotion of Clean Tech and Electric Vehicle Adoption 

●       The private sector will be encouraged to develop sustainable and innovative business models for ‘Battery or Energy as a Service’. This will improve efficiency in the EV ecosystem and provide a major boost in EV manufacturing and adoption in the country.

●       This will augment the culture of Sustainability and shall promote more young startups in this sector thereby promoting employment opportunities for youth.

 

 

 

 

 

9. Promoting Mental Wellness through National Digital Mental Health Helpline

●       The pandemic has accentuated mental health problems, especially in youth. To improve access to quality mental health counseling and care services, a ‘National Tele Mental Health Programme’ will be launched. This will include a network of 23 tele-mental health centres of excellence.

 

10. GIFT City Digital Learning Hub

●       World-class foreign universities and institutions will be allowed in the GIFT City to offer courses in Financial Management, FinTech, Science, Technology, Engineering and Mathematics, free from domestic regulations.

 

11. 5G to be launched in the upcoming financial year

●       The government is set to sell 5G spectrum in the upcoming financial year and bring manufacturing associated with the 5G industry under the PLI (Production Linked Incentive) scheme.

●       This will further the ongoing digital revolution in the country while providing entrepreneurial and job opportunities to the youth.

 

12. Preparing For Future - Urban Development

·         A high-level committee will be formed for planning and implementation of urban development. This will help realize the country’s economic potential, including livelihood opportunities for the demographic dividend especially the youth.

·         For developing India specific knowledge in urban planning and design, and to deliver certified training in these areas, up to five existing academic institutions in different regions will be designated as centres of excellence. These centres will be provided

 

endowment funds of 250 crore each. This will provide both skill development and employment opportunities for the youth.

 

 

BJYM yet again congratulates the Government and welcomes the announcements and reforms announced in the Union Budget 2022-23. BJYM restates its absolute commitment in working for fulfilling the announcements made in the Union Budget 2022-23 and continue India's journey in empowering youth.

 

Amandeep Singh

National Media Incharge BJYM

M: 7837610001