INTRODUCTION:
Budget:Constitutional Aspect |
Government Budget is Annual Financial Statement that explains estimated receipts and expenditure in a financial year. It is mandated by Article 112 to be presented in the Lok Sabha. |
Union Budget 2023-24 |
With SAPTRISHI and 4 transformative opportunities viz, Women Empowerment through SHGs; PM VIKAS; Tourism Promotion; Green Growth - the Budget 2023-24, laid strong foundation of empowered and inclusive economy in Amrit Kal (2023-2047). |
Gender Budgeting |
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FORMULA BY theIAShub |
Government Budgeting = National priorities + Developmental Roadmap + Social Welfare Effective Budgeting = Effective Revenue Collection + Transparent & Balanced Allocation + Effective Resource Management + Fiscal Responsibility |
SPEECH BY PROMINENT PERSONALITIES (PM, PRESIDENT, UN OFFICIAL et. al)/RECOGNITION IF ANY:
CURRENT DEVELOPMENT: HIGHLIGHTS OF BUDGET 2023-24
DATA/FACT:
Taxpayers |
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Tax to GDP Ratio |
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Tax Revenues (2022-23) |
Overall tax collection in 2022-23: Rs 30 lakh crore (Direct Tax: 52%; Indirect Tax: 48%)
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Govt expenditure [Budget 2023–24] |
Total Government Expenditure: 15% of GDP Capital expenditure: 3% of GDP (highest ever Capex of 10 Lakh Cr.). |
Exp. on Subsidies |
2% of GDP (Union Budget 2023-24) ->Food Subsidy: 2 Lakh cr; Fertliser Subsidy: 1.75 lakh cr |
Budget Deficit Target (FY24) (% of GDP) |
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Disinvestment Target (2023-24) |
₹51,000 Crore (Target met only 2 times in last 10 yrs (2017-18 & 2018-19) |
KEYWORDS:
COMMITTEES RECOMMENDATIONS/NATIONAL OR INTERNATIONAL REPORTS:
GOVT SCHEMES, POLICIES, AND INITIATIVE:
EXAMPLES/CASE STUDIES:
CONCLUSION
LOW EQUILIGRIUM TRAP
FISCAL CONSOLIDATION: FISCAL MARKSMANSHIP
PRINCIPLES OF EFFECTIVE TAXATION
GST: CHALLENGES & WAY FORWARD