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What was the Union Budget 2020-21?

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What was the Union Budget 2020-21?

The Union Budget has been structured on the overall theme of “Ease of Living.” This has been achieved by farmer friendly initiatives such as Agriculture credit target of Rs 15 lakh crore for 2020-21; schemes of “Kisan Rail” and “Krishi Udaan” for a seamless national cold supply chain for perishables; and expansion of …

What are the main features of the Union Budget 2020-21?

INCOME TAX

  • Upto Rs 5 lakh: No tax.
  • Rs 5-7.5 lakh income: reduced to 10 from 20\%
  • Rs 7.5 lakh to 10 lakh: reduced to 15 from 20\%
  • Rs 10-12.5 lakh: reduced to 20\% from 30\%
  • Rs 12.5-15 lakh: reduced to 25\% from 30\%
  • Rs 15 lakh: 30\% (No change)
  • Dividend distribution tax abolished.
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How is Union Budget 2021?

Expenditure: The government proposes to spend Rs 34,83,236 crore in 2021-22. Fiscal deficit is targeted at 6.8\% of GDP in 2021-22, down from the revised estimate of 9.5\% in 2020-21 (4.6\% in 2019-20). The government aims to steadily reduce fiscal deficit to 4.5\% of GDP by 2025-26.

What is the conclusion of Budget 2021?

Conclusion. Budget 2021 clearly focuses on boosting capital spending to promote robust growth and revival of the economy. The Budget was presented in two parts. Part A deals with budget allocation in the field of Healthcare, Infrastructure, Agriculture, Education, Defence.

What Union Budget means?

Definition: According to Article 112 of the Indian Constitution, the Union Budget of a year, also referred to as the annual financial statement, is a statement of the estimated receipts and expenditure of the government for that particular year. Union Budget is classified into Revenue Budget and Capital Budget.

What do you mean by Union budget?

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Definition: According to Article 112 of the Indian Constitution, the Union Budget of a year, also referred to as the annual financial statement, is a statement of the estimated receipts and expenditure of the government for that particular year.

What is the conclusion of budget?

Once developed, the budgeting system provides management with a means of controlling its activities and of monitoring actual performance and comparing it to budget goals. A comprehensive profit planning and control program involves budgeting the materials and parts used in the production process.

Is there a budget for 2021?

The United States federal budget for fiscal year 2021 ran from October 1, 2020 to September 30, 2021….2021 United States federal budget.

Submitted by Donald Trump
Submitted to 116th Congress
Total revenue $4.046 trillion (actual) 18.1\% of GDP
Total expenditures $6.818 trillion (actual) 30.5\% of GDP
Deficit $2.772 trillion (actual) 12.4\% of GDP