UNION BUDGET AT A GLANCE

🟢 UNION BUDGET AT A GLANCE ⚡️⚡️🟢

 

WHAT IS UNION BUDGET AT A GLANCE ???

 

Budget at a Glance explains all the data related to the Union Budget in a reader-friendly manner. It’s a document that explains the gist of all broad aggregates and estimates in a form easier for readers to comprehend. It shows all receipts, expenditures, Fiscal Deficit, Revenue Deficit, Primary Deficit of the Government of India.
The Budget is a list of expenditures and receipts of the government, and lays out the ways and means in which the government will be allocating its resources. It is presented as the Finance Bill, Appropriation Bill under Article 112 of the Constitution and has to be passed by the Lok Sabha before April 1 for its implementation in the current financial year. Nirmala Sitharaman will present the Union Budget for FY21.
Budget at a Glance presents a pictorial account of sources of receipts, their applications, details of debts, and deficit indicators, composition of important budgetary variables through charts and graphs.

🌼Nirmala Sitharaman delivered the longest Union Budget speech by a Finance Minister of India i.e. 159 minutes long.

🍎Expenditure : The government proposes to spend Rs 30,42,230 crore in 2020-21

🍎Receipts : Receipts (other than net borrowings) are expected to increase by 16.3% to Rs 22,45,893 crore,

🍎Net market borrowings : Rs 5.36 lakh crore.

🌼 Amount Allocated To Ministries

✅ Ministry of Defence (MoD) – Rs 4,71,378 (Highest) Cr

✅Ministry of Home Affairs (MHA) – Rs 1,67,250 Cr

✅ Ministry of Agriculture & Farmers’ Welfare – Rs 1,42,762 Cr

✅Ministry of Consumer Affairs, Food and Public Distribution – Rs 1,24,535 Cr

✅Ministry of Rural Development (MoRD) – Rs 1,22,398 Cr

✅Ministry of Human Resource Development (HRD) – Rs 99,312 Cr

✅Ministry of Road Transport and Highway – Rs 91,823 Cr

✅Ministry of Railways – Rs 72,216 Cr

✅Ministry of Health and Family Welfare (MoHFW) – Rs 67,112 Cr

✅Ministry of Housing and Urban Affairs (MoHUA) – Rs 50,040 Cr

🌸 Top 3 Schemes with Highest Allocation

☘️Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) – Rs 75,000 (Highest) Cr

☘️ Pradhan Mantri Fasal Bima Yojana (PMFBY) – Rs 15,695 Cr

☘️ Price Stabilisation Scheme (PSS) – Rs 2,000 Cr

 

🌼Themes of Union Budget 2020-2021 and Allocation towards them

🔴Aspirational India Allocation – Rs 4,82,401 cr

💎Agriculture, Irrigation and Rural Development – Rs 2,83,202 cr

💎Wellness And Water and Sanitation- Rs 96,885 crore

🔸health sector– Rs 69,000
🔸Ayushman Bharat Pradhan Mantri Jan Arogya Yojana – Rs 6,400 Crore
🔸Swachh Bharat Mission– Rs 12,300 crore

💎Education and Skills- Rs 1,02,314 crore

🔸education sector– Rs 99,300 crore
🔸skill development– Rs 3,000 crores
🔸New Education Policy By 2030

🔴Economic Development for all – “Sabka Saath,Sabka Vikas , Sabka Vishwas”.

💎Industry, Commerce and Investment- Rs 27,227 crore

💎Infrastructure- Rs 100 lakh crore to be invested over the next 5 years

💎Energy- Rs 40,740 crore

💎New Economy- Rs 42,852 crore

🔸Bharatnet programme– Rs 6000 crore

🔴Caring Society – Both humane and compassionate

💎Women & Child, Social Welfare-Rs 53,876 crore

🔸nutrition-related programmes: Rs 35600 crore
🔸programs specific to women: Rs 28,600 crore
🔸Scheduled Castes (SC) and Other Backward classes (OBC): Rs 85,000 crore
🔸Scheduled tribes: Rs 53,700 crore
🔸senior citizens and Divyang (differently-abled): Rs 9,500 crore

💎Culture & Tourism- Rs 5,650 crore

🔸Allocation towards Ministry of Culture: Rs 3,150 crore
🔸Allocation towards tourism promotion: Rs 2,500 crore

💎Environment & Climate Change- Rs 3,100 crore

🔴Governance

💎G20 presidency In India in 2022 – Rs. 100 crore

💎Development of Union Territories of J&K and Ladakh – Rs. 30,757

💎Establishment of National Recruitment Agency (NRA) for Non Gazetted posts

🔴 Financial Sector – Rs 40,433 crore

🌼🌼 Income tax slab for 2020 🌼🌼

Income Previous Tax Rate New Tax Rate

Up to ₹2.5 lakh Nil Nil

₹2.5 lakh to ₹5 lakh 5% 5%

₹5 lakh to ₹7.5 lakh 20% 10%

₹7.5 lakh to ₹10 lakh 20% 15%

₹10 lakh to ₹12.5 lakh 30% 20%

₹12.5 lakh to ₹15 lakh 30% 25%

Above ₹15 lakh 30% 30%

🌼🌼 GROWTH/DEFECIET 🌼🌼

Nominal GDP growth in 2020/21 estimated at 10%

Fiscal deficit for 2019/20 seen at 3.8% of GDP

Fiscal deficit for 2020/21 seen at 3.5% of GDP

Fiscal deficit for 2021/22 seen at 3.3% of GDP

Fiscal deficit for 2022/23 seen at 3.1% of GDP

Revenue deficit seen 2.7% of GDP in FY21

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