Practicing Success
Practicing Success
CUET Preparation Today
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
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Strategic transfer of ownership of Air India will lead to: |
Increase in capital expenditure Decrease in capital expenditure Increase in capital receipt Decrease in capital receipt |
Increase in capital receipt |
Capital receipts refers to those receipts which either result in creation of liability (example: borrowings) or in reduction of assets (example: disinvestment). It basically affect the asset and liability status of the government. In the above question, ownership of Air India was taken over by TATA group, which means there was reduction in the assets of the government. Thus, option 3 i.e. increase in the capital receipt is the correct answer. |
