By Rajni Pandey | January 27, 2025
The estimated funds allocated to a ministry, used to plan expenditures and assess financial needs during the fiscal year.
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Funds used by the government for long-term investments to boost economic growth, like infrastructure development.
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An additional charge on taxes to fund specific causes such as healthcare, education, or disaster relief.
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Taxes directly imposed on individuals and companies, including income tax and corporate tax.
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The process where the government sells its stake in public sector enterprises to raise funds.
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An annual report that reviews the nation’s economic performance and sets the stage for the upcoming budget.
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The gap between the government’s total spending and revenue collection in the previous financial year.
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Government strategies to regulate taxation and spending to maintain economic stability and growth.
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Taxes levied on goods and services, such as GST, VAT, and customs duty, passed on to consumers.
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A rise in the prices of goods and services, leading to a decline in purchasing power.
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A simplified tax structure with seven slabs, offering lower tax rates but no deductions.
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The traditional tax format with four slabs, allowing deductions and exemptions for taxpayers.
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A reduction in income tax liability, lowering the tax burden on individuals.
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A tax collected by sellers from buyers at the point of sale for certain goods or services.
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A discount that reduces the taxable income of individuals or businesses, lowering the final tax payable.
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