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 capital budget is different from the revenue budget as its components are of a long-term nature. The capital budget consists of capital receipts and payments. Capital receipts are government loans raised from the public, government borrowings from the Reserve Bank and treasury bills, loans received from foreign bodies and governments, divestment of equity holding in public sector enterprises, securities against small savings, state provident funds, and special deposits. Capital payments are capital expenditure on acquisition of assets like land, buildings, machinery, and equipment. Investments in shares, loans and advances granted by the central government to state and union territory governments, government companies, corporations and other parties.
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.
It is the division of monetary resources among the different sectors in the economy and the ministries of the government.
The Bill presented in Parliament immediately after the presentation of the Budget, which details changes in tax policy announced in Budget.
A comprehensive report of the government's financial statements, containing all expenditures and revenues -- actual numbers for the year going by (revised estimates) and forecast numbers for the year ahead (budgeted estimates).
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.