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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PM Gati Shakti-National master plan for multi-modal connectivity is an example of: |
Capital expenditure Revenue expenditure Revenue receipt Capital receipt |
Capital expenditure |
The Pradhan Mantri Gati Shakti National Master Plan is a central government project, aimed to revolutionise infrastructure in India. Prime minister Narendra Modi announced the launch of the Gati Shakti Yojana, a Rs 100 lakh-crore project for developing 'holistic infrastructure' in India. The multi-modal connectivity will provide seamless movement of people, goods and services from one mode of transport to another. National Master Plan will facilitate the last mile connectivity of the infrastructure. Capital expenditure is those expenses that either results in the creation of assets or reduction in liability of the government. As, development of infastructure will lead to asset generation thus, it will be considered as a capital expenditure by the government. |
