In this blog post, we take a look at the key highlights from
the Union Budget 2022-23, as tabled by the Union Finance Minister
in the Parliament of India on 01 February 2022.
On 1 February, Indian Finance Minister Nirmala Sitharaman
(FM) announced the Union
Budget (Budget) for FY 2022-23 and
described its key takeaways in her Budget Speech.
The FM identified artificial intelligence, geospatial systems,
drones, semi-conductor, space economy, green energy and clean
mobility systems as sunrise sectors.1 She noted
that these sunrise sectors have immense potential to provide
employment opportunities and make the Indian industry more
sustainable, efficient and competitive. Consequently, the FM
prescribed enabling policies, light touch regulation and
facilitative actions such as building domestic capacity and
promoting research and development to support these
sectors.2
