Austrian sociologist Rudolf Goldscheid said about the Indian budget that this budget is the skeleton of all misleading ideologies. After the Corona virus, tell us that this budget is presented as development. Keeping in mind the development of the financial year 2022, the budget has been announced for all sectors. This is 0.95 per cent more than the total expenditure as compared to the revised estimates of FY 2021.
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Fiscal deficit will reduceDuring the budget speech, Sitharaman said that the budgetary deficit is less than the current financial year. Let us tell you that the best thing is that there will not be much fear of loss in the financial year 2023 also, with this it will be reduced gradually in the year 2025-26. This deficit will go down to 4.5 percent. The Finance Minister has estimated the fiscal deficit to be 6.8 percent of GDP in FY 2022, which may be 9.5 percent in 2021.
Reducing losses is more important than focusing on short term growth
Let us tell you that more important than focusing on short term growth is to reduce the fiscal deficit. Apart from this, the Finance Minister said that focusing on privatization and infrastructure will improve productivity, which will give a new direction to the Indian economy.
Let me tell you, it is best to compare the budget estimates of FY22 with the budget estimates of the current year, because the epidemic has reduced the priorities. In addition, the Finance Minister named 6 pillars in the budget, Health and Welfare, Physical and Financial Capital, and Infrastructure, Inclusive Growth for Aspiring India, Communicating Innovation in Human Capital, Innovation and Research and Development, Minimum Government and Maximum Governance. , Counted.
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Let me tell you – Agriculture & allied activites – down 4 percent; Health – 10.4 percent; Education – down 6 percent; Rural Development – 34 percent mainly due to allocation for Rural Drinking Water Mission; Social welfare – down 10 percent; Urban development – 9 percent; Defense – are down 7.4 percent.