Union Budget 2022 Summary: Presenting Budget 2022-23, Nirmala Sitharaman estimated India's total expenditure at Rs 39.45 lakh crore and projected fiscal deficit at 6.4% of GDP for FY23. What did the budget have for the middle class, taxpayer and investor? Here are the full details, packed with expert views, reported pieces and in-depth analyses.
Given that weapons systems are just another type of machines, India would rather master making these machines themselves, and then move on to those for military purposes
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From umbrellas, to unblended fuel to clothes, here is a list of all things that could make your pockets lighter, and heavier.
A CBDC is the digital form of fiat currency and will ease transactions. An RBI report had earlier described CBDC as something that will provides a safe, robust, and convenient alternative to physical cash.
Nirmala Sitharaman Finance Minister| Government of India
Ajay Bhushan Pandey Revenue Secretary
Tarun Bajaj Economic Affairs Secretary
Bajaj has helped shape three `Aatmanirbhar Bharat` sets of relief measures
Unlike past exercises, this year’s budget is conservative on many counts, including growth estimates and expenditure projections. The government has also resisted the temptation, again marking a departure, to launch populist measures to coax voters
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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.
This is the gap between the government's total spending and the sum of its revenue receipts and non-debt capital receipts. It represents the total amount of borrowed funds required by the government to completely meet its expenditure.
The Bill presented in Parliament immediately after the presentation of the Budget, which details changes in tax policy announced in Budget.
When the government's receipts fall short of its expenditures, it borrows money to bridge the gap. The excess of total expenditure over (non-borrowed) receipts is called fiscal deficit.
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.
Indirect tax is imposed on goods and services. For example, GST.