Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Macro Economics: Government Budget and Economy

Question:

Read some salient features of 'Budget 2022' and answer questions.

                             BUDGET: 2022-23

Finance Minister Nirmala Sitaraman presented the union Budget 2022. There were a host of measures for a number of sectors, aimed at boosting growth amid high and rising inflation and continuing COVID uncertainties.
Few highlights
 
♠ Capex target expanded by 35.4% - from 25.54 lakh crore to 27.50 lakh crore. FY23 effective capex seen at 10.7 lakh crore.
♠ Top focus of the Budget this year are PM Gati Shakti.
♠ In 2022-23, states will be allowed fiscal deflicit of upto 4% of GDP. 
♠ Projected fiscal deficit of 6.4% of GDP in 2022-23
♠ Receipt from disinvestment proceeds in next financial year pegged at ₹65000 crore, lower than the current years mobilization of ₹78000 crore.
♠ The government will tax income from digital asset transfers at 30%
♠ Strategic transfer of ownership of Air India completed now.
♠ ₹4800 crore allotted to PM Awas Yojana
♠ ₹60000 crore allotted to provide tap water connections to 3.8 crore households in 2022-23
 

Match List I with List II

 List I- Description in Budget speech List II- Figures in per cent
A. Projected Fiscal Deficit in 2022-23 I. (-16.67%)
B. States Fiscal Deficit in 2022-23 II. 6.4% of GDP
C. Change in dis-investment proceedings in FY 2022-23 III. 35.4%
D. Change in Capex target in FY 2022-23 IV. Upto 4% of GDP

Choose the correct answer from the options given below:

Options:

A-IV, B-II, C-I, D-III

A-II, B-IV, C-I, D-III

A-II, B-IV, C-III, D-I

A-IV, B-II, C-III, D-I

Correct Answer:

A-II, B-IV, C-I, D-III

Explanation:

According to the question:

BUDGET: 2022-23

Finance Minister Nirmala Sitaraman presented the union Budget 2022. There were a host of measures for a number of sectors, aimed at boosting growth amid high and rising inflation and continuing COVID uncertainties.
Few highlights
 
♠ Capex target expanded by 35.4% - from 25.54 lakh crore to 27.50 lakh crore. FY23 effective capex seen at 10.7 lakh crore. - (D)
♠ Top focus of the Budget this year are PM Gati Shakti.
♠ In 2022-23, states will be allowed fiscal deflicit of upto 4% of GDP. - (B)
♠ Projected fiscal deficit of 6.4% of GDP in 2022-23 - (A)
Receipt from disinvestment proceeds in next financial year pegged at ₹65000 crore, lower than the current years mobilization of ₹78000 crore. - (₹65000 -₹78000 = - ₹13000) \(\frac{-13000 }{78000 }\) * 100 = -16.67% - (C) 
♠ The government will tax income from digital asset transfers at 30%
♠ Strategic transfer of ownership of Air India completed now.
♠ ₹4800 crore allotted to PM Awas Yojana
♠ ₹60000 crore allotted to provide tap water connections to 3.8 crore households in 2022-23