Budget 2022: India set for modest fiscal consolidation amid slow economic recovery

Budget 2022: India set for modest fiscal consolidation amid slow economic recovery

The government is expected to lower its fiscal deficit target modestly in the next financial year given the pressure its revenue sources may face and the imperative of providing a boost to the rural economy ahead of elections in five states, including Punjab and Uttar Pradesh.

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Budget 2022 expectations | Auto sector needs long-term strategy outline, GST reduction for 2-wheeler EV segment

Budget 2022 expectations | Auto sector needs long-term strategy outline, GST reduction for 2-wheeler EV segment An increased outlay and incentivisation towards the renewable sources will also provide an impetus to the e-mobility ecosystem, experts point out.

Budget 2022 | Infrastructure spending key to economic recovery, says Grant Thornton Bharat's Padma Priya J

Budget 2022 | Infrastructure spending key to economic recovery, says Grant Thornton Bharat's Padma Priya J The need to accelerate economic growth would drive the government to increase the capital outlays especially in the infrastructure sector as this sector is an engine for economic growth.

Budget must roll out national policy for retail, ease up GST processes for sector: Grant Thornton Bharat exec

Budget must roll out national policy for retail, ease up GST processes for sector: Grant Thornton Bharat exec Expectations come in the wake of the last year’s budget making input tax eligibility conditions more stringent, bumping up outlays for healthcare and capex, and sharpening Make in India focus

Budget 2022: What IT companies and startups want

Budget 2022: What IT companies and startups want Moneycontrol's Chandra R Srikanth takes you through the key asks from the booming IT and startup ecosystem in India. Will they get the booster shot?

Budget 2022: Here's what Indian pharma and medical devices sector expects

Budget 2022: Here's what Indian pharma and medical devices sector expects Crediting government's AatmaNirbhar Bharat initiative for the sector's significant momentum, the expert predicted that Finance Minister Nirmala Sitharaman's budget will build upon the Production Linked Incentive (PLI) schemes and enable expansion of sensitive APIs, among other things.

Budget 2022 | Policy measure expectations for financial services sector

Budget 2022 | Policy measure expectations for financial services sector The financial services sector is the pillar of the economy. Timely and specific policy measures will go a long way to boost and strengthen this sector while also paving the way for financial inclusion 

Budget 2022 expectations | Real estate may see increased capital outlay, FDI inflow and tax relaxations, say experts

Budget 2022 expectations | Real estate may see increased capital outlay, FDI inflow and tax relaxations, say experts However, some experts believe the upcoming Budget is expected to focus on providing a push to both affordable and rental housing as well as strengthen the existing financing system to provide liquidity to stuck real estate projects.
Gen Z Adda Dil Chahta Hai by Farhan Akhtar was a point of inflection in Indian filmmaking. Will 2022-23 be a breakout year for the Indian economy?
Budget 2022 | Gen Z's expectations from Budget: Boost in EVs, GST cut in education

Budget 2022 | Gen Z's expectations from Budget: Boost in EVs, GST cut in education

24-year old Parang Mehta shares his three expectations from the Union Budget. Firstly, he wants automakers and electric vehicles to be given a boost, secondly, he looks for GST relaxation in the education sector, and thirdly, relaxation in income tax slabs for the working class.

Team India Budget

The team responsible for the budget preparation.
Budget 2022 | Three expectations for food processing and agribusiness

Budget 2022 | Three expectations for food processing and agribusiness

While India has been self-sufficient in major cereals and crops, there will be a stress on production and productivity as the food demand will go up. Sustainable production is a critical area which the government should focus in the upcoming Union Budget

What is plan and non-plan expenditure?

There are two components of expenditure - plan and non-plan. Of these, plan expenditures are estimated after discussions between each of the ministries concerned and the Planning Commission. Non-plan revenue expenditure is accounted for by interest payments, subsidies (mainly on food and fertilisers), wage and salary payments to government employees, grants to States and Union Territories governments, pensions, police, economic services in various sectors, other general services such as tax collection, social services, and grants to foreign governments. Non-plan capital expenditure mainly includes defence, loans to public enterprises, loans to States, Union Territories and foreign governments.

Finance Bill

The Bill presented in Parliament immediately after the presentation of the Budget, which details changes in tax policy announced in Budget.

What is fiscal policy?

Fiscal policy is a change in government spending or taxing designed to influence economic activity. These changes are designed to control the level of aggregate demand in the economy. Governments usually bring about changes in taxation, volume of spending, and size of the budget deficit or surplus to affect public expenditure.

Indirect tax

Indirect tax is imposed on goods and services. For example, GST.

Consolidated Fund of India

All revenues raised, interest earned and money borrowed by the government flow into it. All government expenditures, except from Contingency Fund and Public Account, are made from the Consolidated Fund of India.

Vote on Account

The Vote on Account is a grant made in advance by the Parliament, allowing an outgoing government to incur expenses for the part of the year it will be in office.

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