Budget 2021: The general budget of the country is going to be presented on February 1. Each budget makes several announcements for different sectors of the country, for which a certain amount of money is announced.
Budget 2021: The general budget of the country is going to be presented after January. Each budget makes several announcements for different sectors of the country, for which a certain amount of money is announced. In addition, there are budget allocations for different ministries and departments, which they use for various expenditures / projects throughout the financial year.
Hearing allocations for various projects and ministries in the budget, the central government often comes to mind where the government comes from. This time the question is even more valid, as the Indian economy has been hit by Covid 19 and the government has already made several announcements to get rid of the effects of the epidemic. In such a situation, where will the money come from the government for the budget?
This is how the government gets money
* Credit and other liabilities
* Non-debt capital income
* Earnings from tax-exempt sources
* Corporate tax
* Income tax
* Central Excise
* Tax on goods and services
The main sources of funding for the 2021-22 budget could be tax collection, revenue collection and restructuring of various public sector entities. Apart from this, the government can raise money by raising import duty on some items to promote domestic production.
* Where do you usually spend?
* State participation in taxes and duties
* Central sector projects
* Centrally Sponsored Schemes
* Pay interest
* Finance Commission and other transfers
* Other costs
Finance Minister Nirmala Sitharaman said the government wants to control the economy affected by the Corona epidemic and encourage growth. So, the budget will also focus on this. In such a situation at the moment, there is a need to increase the expenditure from the government and there is no need to worry about the fiscal deficit. He added that public spending on infrastructure will continue. It will be important to develop more advanced skills for health, medical research and development (R&D) and telemedicine.