Government Budgeting

Syllabus: Government Budgeting. Context Parliament on Friday cleared amendments to the Goods and Services Tax (GST) laws to facilitate the levy of 28% GST on the face value of all bets made in casinos, horse-racing and online gaming. Approval done Approved by the GST Council earlier this month, the legislative …

The allocation made for education in the Union Budget 2023 reminds a person of these lines from the Samuel Taylor Coleridge poem, “Work without Hope”: “Work without Hope draws nectar in a sieve, And Hope without an object cannot live. ” However, the news headlines shouted out a different story: …

The world is indeed looking up to the Indian economy as a ‘bright star’, as the Finance Minister noted in the Budget speech on February 1. In 2020, India accounted for 20.6% of the worldwide population of 15 to 29 year olds. Which means that in the years ahead, one …

Growth is affected by the size of government expenditure and its revenue and capital components. Government expenditure is budgeted to grow at 7.5% while nominal GDP growth is estimated to fall from 15.4% in 2022-23 to 10.5% in 2023-24. Thus, the total expenditure relative to GDP is shown to fall …

Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, presented the Economic Survey 2022-23 in the Union Parliament today. The highlights of the Survey are as follows: State of the Economy 2022-23: Recovery Complete Recovering from pandemic-induced contraction, Russian-Ukraine conflict and inflation, Indian economy is staging a broad based …

India to witness GDP growth of 6.0 per cent to 6.8 per cent in 2023-24, depending on the trajectory of economic and political developments globally. The optimistic growth forecasts stem from a number of positives like the rebound of private consumption given a boost to production activity, higher Capital Expenditure …