Union Budget, 2022: Make In India Can Provide 6 Million Employment

Make in India can create 6 million new jobs in India, says FM Nirmala Sitharaman while presenting the Union Budget 2022, on February 1.

Earlier, about employment generation, in the Economic Survey, 2022, the union government mentioned, "Building on the same approach, the Union Budget 2021-22 had enhanced the budget outlays for the more productive capital expenditure. The Government budgeted for a 34.5% growth in capital expenditure over 2020-21 BE - with emphasis on railways, roads, urban transport, power, telecom, textiles, and affordable housing amid continued focus on the National Infrastructure Pipeline. The National Infrastructure Pipeline covering 6835 projects was expanded to 7400 projects in Budget 2021-22."

It added, "In order to unlock the domestic manufacturing potential across sectors, such as renewable energy, heavy industry, agriculture, automotive, and textiles, Budget 2021-22 launched PLI schemes for 13 sectors, with an outlay of 1.97 lakh crore, for a period of 5 years starting from 2021-22."

All these initiatives are expected to collectively generate employment and boost output in the medium to long term through multiplier-effects. The stimulus measures announced during the year 2021-22 have continued the emphasis on liquidity enhancing and investment boosting measures such as the PLI Scheme, credit guarantee schemes and export boosting initiatives to support the reviving economy, apart from providing free food grains to the poor.