India’s Amrit Kal Budget 2022-2023 - Assessment

Dr Rajendra Shende, Chairman of TERRE Policy Centre, former Director UNEP and IIT Alumnus was invited by Press to assess India's Federal Budget 2022-2023 presented by India's Central Finance Minister and Corporate Affairs, Nirmala Sitharaman, on 1 February 2022.

Dr Shende within a couple of hours after the end of the full presentation as viewed on TV wrote his assessment, gave marks out of ten and sent it to Press in English. It was also translated into local languages (Marathi). Scroll Down

​"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 the Master dream of PM Modi about 'sabka saath sabka vikas' scattered all over in the budget. Now on, once the budget is 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 the suffering inflicted on people due to COVID19 Pandemic. Though Government is dealing with the pandemic in a committed and laudable way for which every Indian should be proud, 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 a 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 the United Nations to achieve the targets of Sustainable Development Goals ( SDGs) and to contain 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 the share of renewable energy, solar ( ambitious target of 280 gigawatts in 2030), hydro, wind, biomass, circular economy would see a quantum jump in manufacture, installation and hence employment. In reality, employment in the renewable energy sector is growing faster than in the fossil fuel industry. Green Bonds proposed as a catalytic trigger in fixing targets for decarbonization of economy or 'Net Zero' announcement by PM Modi In COP26 in Glasgow, would certainly see a steep rise in green jobs.

Battery swapping policy, energy efficiency enhancement for electrical vehicles, 60 km of ropeways to decrease the air pollution in the 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.

What I liked the most about the budget is that it was futuristic. Yes, it was a financial budget for 2022-2023 but it was the futuristic budget for 2045-2046. The best part of the budget was when the 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 feel that we would also celebrate freedom from Climate Change.

Indeed, it was the 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, airports, ports, mass transition, waterways and logistics. I only hope that they are embedded with SDGs and Climate Resilience.

 Dr Rajendra Shende, 

Chairman - TERRE Policy Centre,

Former Director UNEP, IIT Alumni  

Coordinating lead author of IPCC.