Union Budget: Caiib Paper 1 (Module A), Unit 10
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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
The annual budget of the country is called the Union Budget.
- Revenue Concept
- Expenditure Concept
- Deficit Concept
Gross Tax Revenue
- Corporation tax
- Income tax
- Other Taxes & Duties
- 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
- Market Loans
- Short Term Borrowings
- External Assistant (Net)
- Securities issued against small saving
- State provident funds (Net)
- Other Receipts (Net)
Non- Plan Expenditure
Non- Plan Expenditure = Revenue Non- Plan Expenditure + Capital Non-plan Expenditure
- Interest Payments and Prepayment Premium
- Grants to state and U.T govt.
- 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.
- Other Non-plan capital Outlay
- Loans to Public Enterprises
- Loan to state and U.T govt.
- Loans to foreign govt.
- Central Plan
- Central Assistance for State & U.T Plans
- Plan Expenditure = Revenue Expenditure + Capital Expenditure
- Total Expenditure = Total Non-plan Expenditure + Total Plan Expenditure
- Revenue Deficit is the excess of revenue expenditure over revenue receipts.
- Financing of Fiscal Deficit: Debt Receipts + Draw-down of cash balance
- Gross Fiscal Deficit is the excess of total expenditure including loans, net of recoveries over revenue receipts (including external grants) and non- debt receipts
- Net Fiscal deficit = The gross fiscal deficit (-) interest payments
- Net Primary deficit = Net fiscal deficit (– ) net interest payments
- NCCD: National Council on Crime and Delinquency.
Read More Article Caiib Paper-1, Module A
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