1. The document discusses key aspects of the government budget including revenue sources like taxes, expenditure categories like plans and non-plans, and fiscal indicators like fiscal deficit.
2. It explains concepts related to the budget like revenue receipts, capital receipts, revenue expenditure, capital expenditure, revenue deficit, and fiscal deficit.
3. The major sources of revenue for the government are taxes which include both direct and indirect taxes, while the major components of expenditure are plans, non-plans, interest payments, subsidies, and transfers to states.
Income tax - All About Income Tax Acts, Case Laws, Forms, RulesTaxmann
Income Tax - Make your research easier with Taxmann Income tax module and get the largest online database on Income tax case laws, acts, rules, forms, finance acts, circulars & notifications, tax articles, Income tax return filing forms, DTAA, commentaries etc. Subscribe to Taxmann income tax module https://taxmann.com/income-tax.aspx and stay updated.
Income tax - All About Income Tax Acts, Case Laws, Forms, RulesTaxmann
Income Tax - Make your research easier with Taxmann Income tax module and get the largest online database on Income tax case laws, acts, rules, forms, finance acts, circulars & notifications, tax articles, Income tax return filing forms, DTAA, commentaries etc. Subscribe to Taxmann income tax module https://taxmann.com/income-tax.aspx and stay updated.
Wünsch AG Digitale Transformation : Mobile GeschäftsprozesseWünsch AG
Digitale Transformation: So bringen Sie Ihr Business auf das Smartphone: 5 Tipps für mobile Geschäftsprozesse
Der Geschäftsalltag und die Arbeitswelt werden mobiler: Teams arbeiten bereits heute nicht mehr zum gleichen Zeitpunkt am gleichen Ort, sondern lokal verteilt am Firmenstandort, in Niederlassungen, beim Kunden vor Ort oder im Home Office. Dieser Trend wird sich fortsetzen. IT-Anwendungen müssen diese Entwicklung abbilden können.
Tax management paper BBA University of PeshawarEmmaSidd
Q.1. Withholding tax is levied on the withdrawal of cash from the bank accounts by the customer. The current rate of the withholding tax is 0.3% for Tax filers and 0.6% for Non-Tax Filer. What is your opinion; is withholding tax meant to be a major source of earning for the government or helpful for documentation of the economy?
Q.3 Wealth Tax Return form used for the return of net wealth under section 14 of the Wealth Tax Act, 1963 (XV of 1963). Explain the legal importance of Wealth Tax Return proforma?
In this file you will find a detailed notes on Goods and Services Tax.
Subscribe to Vision Academy for Video assistance https://www.youtube.com/channel/UCjzpit_cXjdnzER_165mIiw
1.Union Budget: Revenue Budget, Capital Budget
2. Revenue Receipts, Revenue Expenditure, Revenue Deficit
3. Capital Budget, Capital receipts, Capital Payments
4. Taxes: Direct Taxes, Indirect Taxes
5. Two components of expenditure, Plan and Non-Plan
6. Fiscal Policy, Fiscal DeficIt, Finance Bill
7. The Budget process stages
STAGE 1: Estimates. Part A – Expenditure
8. STAGE 1: Estimates. Part B - Revenue
9. STAGE 2: First estimates of deficit
10. STAGE 3: Narrowing of the deficit
11. How India balances its books
12. Consolidated Fund, Contingency Fund
13. Public Account, Appropriation bills
14. Budget deficit, Fiscal deficit, Primary deficit
The Federal Government's Budget
The 1999 Constitution requires Mr. President to present the annual budget of the Federal Government to the National Assembly for its passage. The Budget gives details of expected revenue and expenditure, and presents the direction of Government's policies and spending priorities for a given fiscal year. Normally, this fiscal year runs from 1st January to 31st December; although this has sometimes been extended to 31st March in recent years.
Through the Budget, the Federal Government delivers essential public goods and services, such as education, healthcare, infrastructure and security to its citizens. The government needs to plan its financial activities and come up with detailed spending plans to provide these goods and services. The Federal Budget as a fiscal policy tool affects many aspects of our economy such as the general price level of goods and services in the economy, interest rates at which individuals and businesses can borrow money, the exchange rate at which the Naira trades against other currencies and the rate of growth of the economy. These 'macroeconomic variables', as Economists call them, affect the wellbeing of the entire economy and, indeed, the social and economic wellbeing of all Nigerians.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
2. Budget Basics
Components of Budget
Sources of Revenue
Fiscal Highlights
Plan & Non Planned Expenditure
Major Issues
Tax Collection
Positives & Negatives of Budget
Doubt Session
3. old French word “bougette” meaning “purse”.
planned expenses and revenues
plan for saving and spending
Purpose Of Making Budget
Budget forecast the revenues and the expenses
helps in control as it gives the actual position with respect to the
forecast
4. Government has several policies to implement in
the overall task of performing its functions to meet
the objectives of social & economic growth.
For implementing these policies, it has to spend
huge amount of funds on
defence, administration, and development, welfare
projects & various other relief operations.
It is therefore necessary to find out all possible
sources of getting funds so that sufficient revenue
can be generated to meet the mounting
expenditure.
5. Budgets are the mechanism by which management control of an
organization becomes possible.
Budgets Performance
Plan Action Results
Revise Remedy
Comparison of actual results to budget variance
8. Dividend
Distribution
Tax
Commodities
Income
Transaction
Tax
Tax
Direct Indirect
Banking
Cash
Taxes Wealth Taxes
Transaction Tax
Tax
Centre State Local
Securities Fringe
Transaction Benefit
Tax Tax
Sales
Customs Octroi
Tax/VAT
Profession Property
Excise
Tax Taxes
Service Stamp User
Tax Duty Charges
9. Revenue Receipts ↓
i. Tax Revenue
ii. Non-Tax Revenue
1. Fees
2. Fines and penalties
3. Profits from public sector enterprises
4. Gifts and grants
5. Special assessment duty
10. Revenue Expenditure ↓
1. Consumption of goods and services.
2. Agricultural and industrial development, scientific
research, education, health and social services.
3. Defence and civil administration.
4. Exports and external affairs.
5. Grants given to State governments even if some of
them may be used for creation of assets.
6. Payment of interest on loans taken in the previous
year.
7. Subsidies.
11. Capital Receipts ↓
1. Loans raised by the government from the public
through the sale of bonds and securities. They are
called market loans.
2. Borrowings by government from RBI and other
financial institutions through the sale of Treasury bills.
3. Loans and aids received from foreign countries and
other international Organisations like International
Monetary Fund (IMF), World Bank, etc.
4. Receipts from small saving schemes like the National
saving scheme, Provident fund, etc.
5. Recoveries of loans granted to state and union territory
governments and other parties.
12. Capital Expenditure ↓
Any projected expenditure which is incurred
for creating asset with a long life is capital
expenditure.
Thus, expenditure on
land, machines, equipment, irrigation
projects, oil exploration and expenditure by
way of investment in long term physical or
financial assets are capital expenditure.
13.
14.
15.
16.
17. What is fiscal deficit??
When a government's total expenditures exceed
the revenue that it generates (excluding money
from borrowings).
18. The biggest surprise in the budget has been the
fiscal deficit target for FY12 set by the
Government which is encouraging for global
investors.
Fiscal deficit is expected to come down to an
impressive 4.6% of GDP in FY12 as compared
to 5.1% in FY11.
The rolling targets for fiscal deficit are placed at
4.1% for 2012-13, and 3.5% for 2013-14.
The targets do look ambitious, but a roadmap
to achieve these targets is still to be watch out.
19. FISCAL:
The Gross Tax Receipts estimated at Rs.
9,32,440 cr in FY12.
The Non Tax Revenue Receipts estimated at Rs.
1,25,435 cr.
Total expenditure at Rs. 12,57,729cr in the
2010-11, an increase of 13.4% over last year.
Plan and Non Plan expenditures in 2010-11
estimated at Rs. 4,41,547cr and Rs.8,16,182cr
respectively.
20. There are two components of expenditure -
plan and non-plan.
Of these, plan expenditures are estimated after
discussions between each of the ministries
concerned and the Planning Commission.
Plan expenditure forms a sizeable proportion
of the total expenditure of the Central
Government
21. Non-plan revenue expenditure is accounted for by
interest payments, subsidies (mainly on food and
fertilisers), wage and salary payments to government
employees, grants to States and Union Territories
governments, pensions, police, economic services in
various sectors, other general services such as tax
collection, social services, and grants to foreign
governments.
Non-plan capital expenditure mainly includes
defence, loans to public enterprises, loans to
States, Union Territories and foreign governments.
22.
23.
24.
25.
26.
27. Economic growth
Control inflation
Fiscal consolidation
28. It is only after tightening monetary policy over the
year to contain demand side inflationary pressures
and removal of supply side constraints that govt.
was able to contain the food inflation.
Consumer price index for 2011 is 9.08%.
food inflation was -3.36% during the 1st week of
January .
29.
30. In the third quarter of 2011 consumer spending grew
at a weaker pace of 59.5 percent.
Aggressive rate increases by the Reserve Bank of
India over the past 20 months to cool inflation have
crimped industrial expansion, a 5.1% contraction in
October.
Government spending rose 10.7 percent, almost
steady compared to the prior quarter.
31. Govt. has estimated a fiscal deficit of Rs 4.12 lakh
crore or 4.6% of GDP during 2011-12.
fiscal deficit has risen to Rs 3.07 lakh crore, or 74
per cent of the Budget estimates, in the first seven
months of 2011-12.
32. The food subsidy alone will cost the exchequer Rs 95,000 crore to
start with.
If one counts other parts of the Bill and associated set-up, etc, to
get this moving through the existing channel of public distribution
system, the Bill may touch an expenditure of anywhere between
Rs 1,25,000 crore and Rs 1,50,000 crore.
Three major issues need to be considered:
the true financial requirement of the Bill, at least for next three
years
its operational rollout through the existing leaking and
squeaking Food Security Complex of Procurement, Stocking and
Distribution.
what it does to the remaining food economy when state takes over
literally half the marketed surplus of the main staples away from
market.
33. Implementation of Direct Tax Code (DTC), Goods
and Services Tax (GST) from 1 april,2012.
While DTC will simplify, reduce exemptions, which
will widen the tax base, and lower tax
rates, introduction of GST will ensure unified tax
rates across the country.
structural reforms in the subsidy systems.
government institutions, banks and companies
including LIC will be allowed to buy government
stake in Central Public Sector Enterprises (CPSEs)
with the help of bulk sales.
34. Cash-rich PSUs like NTPC, BHEL, SAIL, ONGC and IOC
will also be permitted to go for share buybacks.
But, in no case would the government stake in any CPSEs
be allowed to go below 51 per cent.
Department of Divestment (DoD) officials are of the view
shares would sell at a premium through this mode, as against
discounted sales through the market route.
35.
36.
37. SEBI is likely to allow the promoters of companies
to sell shares by auctioning securities through
stock exchanges. This process will be quicker and
more efficient than a full-fledged public offering of
shares.
The government has been able to garner Rs
1,144.55 crore (Rs 11.445 billion) this year from
Divestment in Power Finance Corporation.
The option of getting additional or special
dividend from cash-rich CPSEs may also be
considered this year for improving revenue
realization from the government stake.
38. Gloomy growth prospects and the government's
commitment to fiscal consolidation is likely to crimp
resource availability for the next Five-year Plan.
Aggregate resources for the Centre will decline from
14.01% of GDP in 2011-12 (BE) to 13.11% of GDP in
2016-17 .
The working group has assumed
better targeting of subsidies
market-linked pricing of petroleum products and diesel
will bring down non-plan expenditure from 9.09% of GDP
during the base year of the 12th plan (2011-12) to 7.36%
of GDP in the final year.
39. The North Block has instructed all
departments and ministries to use resources
judiciously.
ministries should identify savings from within
grants, including
re-appropriation from low-priority items,
to provide for items of high priority.
But fiscal prudence cannot be at the cost of
development.
40.
41. Despite the economic slowdown, indirect tax
collections have touched 72% of the budgeted Rs
3.97 lakh crore for the current fiscal.
Direct tax collections, which have, after
refunds, grown just over 7% in the first eight
months of the fiscal.
Industrial production growth slumping into negative
in October and government cutting import duty on
crude and petroleum products to cushion the impact
of rising crude prices.
42. Excise duty, a tax levied at the factory gate and a
leading indicator of production of goods, bounced back
strongly in December indicating a revival in
manufacturing growth after a 5.1% contraction in
October.
Overall indirect tax collections rose 16.1% in the first
three quarters, against the year-ago period, just short of
the 17.3% rise needed to meet the Rs 3.97 lakh crore
target.
Customs duty collections rose 4.1% to Rs 12,608 crore
in December from Rs 12,109 crore in the same month a
year ago.
43. Positives
For automobile industry, budget is in neutral gear,i.e. there is no
change,hence cars will be less expenisve.
Senior citizens are benefited by the hike in exemption limit.
Basic customs duty on agricultural machinery reduced to 4.5 per cent from
5 per cent.
Government has cut many import duties to check inflation.
Excise duty to be reduced from 10% to 5% on parts of specified machinery.
Surcharge for companies cut to 5 per cent, from 7.5 per cent.
Priority sector lending for housing raised from Rs.20 lakh to Rs.25 lakh.
44. Negatives
Health Check-Ups in Private hospitals to become expensive.
Both International Air Travel and Domestic Air Travel become expensive.
Tax on life insurance service providers could be negative for insurance
companies.
Travel, Healthcare to become expensive due to increased service tax.
Lack of FDI in retail, a disappointment.
New service tax to hurt companies in hospitality.
Hike in export duty on Iron Ore. Branded clothes may cost more.
Rise in MAT from 18% to 18.5%.
45. Equity markets – were up by 3% mid day but ended with modest gains
of about 0.5%.
Top 5 NIFTY Gain Reason
gainers (%)
ITC 8.13% Much expected increase in excise duty on
tobacco and tobacco products not announced.
IDFC 5.18% Impetus to infrastructure.
Reliance 4.66% Banking licenses to private sector.
Capital
M&M 3.45% No roll back of excise stimulation.
Fuel cell, hydrogen cell technology, hybrid
vehicles granted concessions.
Maruti Udyog 3.38% No roll back of excise stimulation.
46. Top 5 NIFTY losers Loss (%) Reason
Sesa Goa -7.54% Increase in excise duty to 20%.
Ambuja Cement -5.23% Rationalization in excise duty.
Reliance Infrastructure -4.35% MAT on SEZ developers.
Ranbaxy -3.23% No specific reason, as appears from the
Budget Speech.
Jaiprakash Associates -3.20% MAT on SEZ developers.
Rationalization in excise duty on
cement.
47.
48. Why subsidy given to the sector is not in line with input cost?
Why farm loan limit through Kisan credit card remains same, ie Rs. 300,000
despite inflation being around 10%?
While additional interest subvention is welcome, however, if the farmer delays
loan repayment even by 1 day (after six months grace period), he has to pay double
interest, ie 14%.
In Budget speech, FM endorsed that soil fertility has decreased through the use
of chemical fertilizers. He proposed steps to increase organic agriculture in the
country. But in the same speech, he talked about giving subsidy to chemical
fertilizers and exemption from tax for any investment in chemical fertilizer sector.
In India, more than 60% farmland irrigated by rain water. Sufficient steps have
not been taken to ameliorate the situation.
One funny but good argument given by a Kisan – While a car loan is cheaper
than a tractor loan…… he has nothing to do with the car on his farm.
Mildly positive for Agriculture but negative for Kisan.
Editor's Notes
Special assessment duty : It is a type of levy imposed by the government on the people for getting some special benefit. For example, in a particular locality, if roads are improved, property prices will rise. The Property owners in that locality will benefit due to the appreciation in the value of property. Therefore the government imposes a levy on them which is known as special assessment duties.
Here ,, all figures start with 2005-06 and end at 2010-11
Here ,, all figures start with 2005-06 and end at 2010-11
Here ,, all figures start with 2005-06 and end at 2010-11