Union Budget: Caiib Paper 1 (Module A), Unit 10

Union Budget: Caiib Paper 1 (Module A), Unit 10

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CAIIB exams are conducted twice in a year. Candidates should have completed JAIIB before appearing for CAIIB Exam. Here, we will provide detailed notes of every unit of the CAIIB Exam on the latest pattern of IIBF.
So, here we are providing “Unit 10: Union Budget” of “Module A: Economic Analysis” from “Paper 1: Advanced Bank Management (ABM)”.

The Article is Caiib Unit 10: Union Budget

Union Budget

The annual budget of the country is called the Union Budget.

  • Revenue Concept
  • Expenditure Concept
  • Deficit Concept

Receipts

Revenue Receipts

Tax Revenue

Gross Tax Revenue

  • Corporation tax
  • Income tax
  • Other Taxes & Duties
  • Customs
  • Union Excise Duties
  • Service Tax
  • Taxes of the Union Territories

Net Tax Revenue = Gross Tax Revenue (-) NCCD transferred to the National Calamity Contingency fund (-) States’ share

Total Non- Tax Revenue

  • Interest Receipts
  • Dividend and Profits
  • External Grants
  • Other Non-Tax Revenue
  • Receipts of Union Territories

Total Revenue Receipts = Net Tax Revenue + Total Non- Tax revenue

Capital Receipts = Non- debt receipts + Debt Receipts

Non- debt Receipt

  • Recoveries of loans & Advances
  • Miscellaneous Capital receipts

Debt Receipts

  • Market Loans
  • Short Term Borrowings
  • External Assistant (Net)
  • Securities issued against small saving
  • State provident funds (Net)
  • Other Receipts (Net)

Expenditure

Non- Plan Expenditure

Non- Plan Expenditure = Revenue Non- Plan Expenditure + Capital Non-plan Expenditure

Revenue Expenditure

  • Interest Payments and Prepayment Premium
  • Defence
  • Subsidies
  • Grants to state and U.T govt.
  • Pension
  • Police
  • Assistance of states from national calamity contingency fund
  • Economic Services (Agri, Industry, Power, Transport, technology etc)
  • Social Services (Education, health, broadcasting etc)
  • Postal Deficit
  • Grants to foreign govt.

Capital Expenditure

  • Defence
  • Other Non-plan capital Outlay
  • Loans to Public Enterprises
  • Loan to state and U.T govt.
  • Loans to foreign govt.

Plan Expenditure

  • Central Plan
  • Central Assistance for State & U.T Plans
  • Plan Expenditure = Revenue Expenditure + Capital Expenditure
  • Total Expenditure = Total Non-plan Expenditure + Total Plan Expenditure

Deficit Concepts

Read More Article Caiib Paper-1, Module A

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