Question: What Is The Estimated Social Sector Expenditure In Budget 2019 20?

What is the total budget of India 2020 21?

Total expenditure in 2020-21 is expected to be Rs 30,42,230 crore, which is 12.7% higher than the revised estimate of 2019-20..

What is the national budget for 2020?

$4.79 trillionThe federal budget for the 2020 fiscal year was set at $4.79 trillion.

What are the changes brought to taxation by the Union Budget 2020 21?

i. The Union Budget 2020, proposes a new tax slab at which income-tax is to be levied for the assessment year 2020-2021 for individuals and HUFs….Income SlabIncome Tax Rate 2020-21Income Tax Rate 2019-20Rs 7.5 to Rs 10 lakh15%20%Rs 10 to Rs 12.5 lakh20%30%Rs 12.5 lakh to Rs 15 lakh25%30%3 more rows•Feb 18, 2020

What is the budget of India in 2020?

For year 2020-21: Nominal growth of GDP estimated at 10 per cent. Receipts: estimated at Rs 22.46 lakh crore (US$ 317.90 billion) Expenditure: at Rs 30.42 lakh crore (US$ 430.57 billion)

How much Indian government spend on salaries?

At the Union government’s level, around 8.5 per cent of the total Union budget is used to pay the salaries of Central government employees.

Who made Budget 2020?

The Union Budget of India for 2020–2021 (ISO: 2020 kē liē Bhārat kā Kēndrīya Bajaṭ) was presented by the Finance Minister, Nirmala Sitharaman on 1 February 2020, as her second budget. This is the second budget of Narendra Modi-led NDA government’s second term.

What is the government budget state its main objective?

The most important objectives of a government budget are re-allocating the resources across the nation, bringing down the inequalities in terms of earning and wealth, paving way for economic stability, managing public enterprises, contributing to economic growth and addressing the regional disproportions.

How many times budget is presented in India?

The Union Budget presentation takes place once a year. However, in the year when Lok Sabha elections are due, two budgets are tabled in Parliament.

What is the theme of Budget 2020 2021?

The Union Budget for FY 2020-21 has been announced on 1 February, 2020, to herald a decade of growth and prosperity. Prominent themes of this Budget are its focus on governance and financial sector to enhance the ease of living.

What is the largest item of expenditure in the Union Budget 2020 21?

Explanation: The largest item of expenditure in the Union Budget 2020-21 is ‘State’s share of taxes and duties’. This item accounts to 20% share of the total expenditure of the Central Government.

What are the two components of government budget?

The Government budget has two components: The Revenue Account: which includes Revenue Receipts (Tax and Non Tax Revenue) and Revenue Expenditure (Plan Revenue Expenditure and Non- Plan Revenue Expenditure).

Which is the biggest item of government expenditure in Budget 2019 20?

Explanation: In 2019-20, the biggest item of government expenditure is Share of the states in taxes and fees. The Central Government has to spend 23% of its total expenditure in the form of ‘taxes and fees’.

Who presented the Union Budget 2020 21?

Finance Minister Nirmala SitharamanHere are sector-wise highlights of the 2020 Union Budget presented by Finance Minister Nirmala Sitharaman. Presenting the Union Budget for 2020-21, Finance Minister Nirmala Sitharaman said, “In May 2019, Prime Minister Narendra Modi received a massive mandate to form the government again.

What are the three types of government budgets?

ThinkStock Photos Depending on the feasibility of these estimates, budgets are of three types — balanced budget, surplus budget and deficit budget. A government budget is said to be a balanced budget if the estimated government expenditure is equal to expected government receipts in a particular financial year.

What is the theme of the Union Budget 2020 21?

Recently the Union Finance Minister has presented the Union Budget 2020-21 with the central theme of ease of living for all citizens, it is based on the following three prominent themes: Aspirational India – better standards of living with access to health, education and better jobs for all sections of the society.

What is the total budget of India 2019 20?

Rs 2,786,349 croreTotal expenditure for 2019-20 is budgeted at Rs 2,786,349 crore (US$ 417.95 billion), an increase of 14.09 per cent from 2018-19 (budget estimates).

How many budget are there in India?

Deshmukh have presented 7 budgets each while Manmohan Singh and T.T. Krishnamachari have presented 6 budgets.

How do you interpret a government budget?

First, there is an actual budget statement of the previous year and a revised estimate of the current year. If you are going through the expenditure and revenue statement of the budget, you can see estimates for figures for these three years.

Who is the father of budget in India?

P C MahalanobisThe first budget of India was submitted on 18 February 1860 by James Wilson. P C Mahalanobis is known as the father of Indian budget.

What is the estimated social sector expenditure in Budget 2018 19?

The Budget speech says, “Govt’s estimated schematic budgetary expenditure on health, education and social protection for 2018-19 is Rs. 1.38 lakh crore against estimated expenditure of Rs. 1.22 lakh crore in BE 2017-18. This expenditure is likely to go up by at least Rs.

Which state has the highest budget in India?

MaharashtraThis is a list of States of India by projected own tax revenues of their governments (excluding the shares from Union tax pool) for the year 2014-19 from “Annexure 7.1” (PDF)….List of states and union territories of India by tax revenues.RankStateTax Revenues (INR Billions) 2014-2019—India303311Maharashtra45182Andhra Pradesh and Telangana32343Uttar Pradesh296426 more rows