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:
Answer & explanation
Correct answer: option 2
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