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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₹60000 crore allotted to provide tap water connections to 3.8 crore households. Provision of tap water by the government is an example of: |
Capital receipt Revenue receipt Private good Public good |
Public good |
Capital receipts refers to those receipts which either result in creation of liability or in reduction of assets. Revenue receipts are those receipts that do not lead to a claim on the government. They neither create liability nor reduces the assets of the government. Private goods are the goods which are produced by privately owned businesses. Public goods are the goods which available to all (“nonexcludable”) and that can be enjoyed over and over again by anyone without diminishing the benefits they deliver to others (“nonrival”). As, provision of tap water is a nonexcludable and nonrival commodity thus, will be considered as a "Public good". |
