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Course Overview

Amit Baghel
UPSC 2018 mains; Doing 'The Hindu Newspaper Analysis' since June,2017. YouTube- Gurukul Prime.

Unacademy user
sit 2 ki power 2 ho to..??
are you still preparing for UPSC
Thank you so much sir...:)
Amit Baghel
3 months ago
:)
Amit Baghel
3 months ago
:)
  1. INTERIM BUDGET 2019-20 FOR UPSC-CSE ANALYSIS Camitbgl


  2. ABOUT ME Computer Science Graduate from JIIT Noida Worked in Microsoft, Ericsson & other Startups UPSC 2018 Mains Expertise in daily news analysis of The Hindu Newspaper for UPSC students[ doing it since last 2 years]


  3. BUDGET ANALYSIS INDEX SL. NO Section Introduction State of the Economy Agriculture 2 3 4 *Important Social & labour welfare Technology MSMEs and Traders Defence Infrastructure development Tax Proposals Important 6 7 8 10 Annual Financial Statement Most Important Vision for India of 2030 Camitbgl


  4. Introduction Camitbgl


  5. The budget can be defined as the most comprehensive report of the government's finances in which revenues from all the sources and outlays for all activities are consolidated In simple terms, the budget is an annual financial statement of the revenue and expenditure of a government Budget in the Indian Constitution .The term 'Budget' is not mentioned in the Indian Constitution: the corresponding term used is 'Annual Financial Statement' (article 112). . Article 112: President shall, in respect of every financial year, cause to be laid before Parliament, Annual Financial Statement. What are the constitutional requirements which make Budget necessary? . Article 265: provides that 'no tax shall be levied or collected except by authority of law lie. Oamitbgl Taxation needs the approval of Parliament.]-> Finance bill


  6. Article 266: provides that 'no expenditure can be incurred except with the authorisation of the Legislature" Article 114 (3): no amount can be withdrawn_from the_ConsolidatedFund without the enactment of a law (appropriation bill) Vote on Account ie. Ex nm until the voting of demands for grants and the passing of the Appropriation Bill and Finance Bill. Article 116(2)1 . This enables the government to fund its expenses for a short period of time or until a full budget is passed. As a convention, a vote-on-account is treated as a formal matter and passed by Lok Sabha without discussion. Normally, the Vote on Account is taken for two months only. The sum of the grant would be equivalent to one-sixth of the estimated expenditure for the entire year under various demands for grants. Oamitbgl


  7. The Budget documents presented to Parliament comprise, besides the Finance Minister's Budget Speech, the following: 1. Annual Financial Statement (AFS) -Article 112 2. Demands for Grants (DG) Article 113 3. Appropriation Bill Artice 114(3) 4. Finance Bill Article 110 (a) 5. Memorandum Explaining the Provisions in the Finance Bill. 6. Macro-economic framework for the relevant financial year FRBM Act 7. Fiscal Policy Strategy Statement for the financial year FRBM Act 8. Medium Term Fiscal Policy Statement FRBM Act 9. Medium Term Expenditure Framework Statement FRBM Act 10. Expenditure Budget Volume-1 11. Expenditure Budget Volume-2 12. Receipts Budget 13. Budget at a glance 14. Highlights of Budget 15. Status of Implementation of Announcements made in Finance Minister's Budget Speech of the previous financial year. Camitbgl


  8. During election year or when it is anticipated that the main Demands and Appropriation Bill will take longer time than two months, the Vote on Account may be granted for a period exceeding two months. Difference between Full Budget and Vote on Account side but e-on- only with the expenditure side of the government's budget . The vote-on-account is normally valid for two months but a full budget is valid for 12 months (a financial year) . As a convention, a vtnaccount is treated as a formal matter and passed by Lok Sabha without discussion. But passing for budget happens only after discussions and voting on demand for grants. A vote-on-account cannot alter direct taxes since they_need to be passed through a finance bill Under the regular Budget, fresh taxes may be imposed and old ones may go. Gamitbgl


  9. What is an interim budget then? . An interim budget in_all practical sense is a full budget but made by the government during the last year of its term - ie. just before the election. An interim Budget is a complete set of accounts, including both expenditure and receipts. But it may_not contain bi roposals Is it mandatory for the government to present vote on account instead of a full budget year? It is not mandatory for the government to present a vote on account in an election year. Though the convention is to present an interim budget and get the fund required for spending via the vote on account route, the government (if it wishes so) can even go for a Full Budget and get the appropriation bills passed to get the finances. . However, during an election year, the ruling government generally opts for a vote-on- account or interim budget instead of a full budget. Oamitbgl


  10. State of the Economy Camitbgl


  11. . From being the 11th largest economy in the world in 2013-14, we are today the 6th brought down average inflation to 4.6%The average rate of inflation during -From the high of almost 6% seven years ago, the fiscal deficit has been brought largest economy in the world 2009-2014 was a backbreaking 10.1%. The current account deficit (CAD), against a high of 56% six years ago, is likely to be only 2.5% of GDP this year. Fiscal consolidation-contained the fiscal deficit notwithstanding the 14th Finance 32% to 42% in central taxes . Foreign Direct Investment (FDI) during the last 5 years - as much as $239 billion. Camitbgl


  12. Agriculture Camitbgl


  13. Criticism of PM-KISAN It must be seen that this Rs 72,000 crore as direct income support to farmers is nowhere near the annual loss of about Rs 2.65,000 crore that farmers have been suffering in recent years because of the low prices they have received due to restrictive marketing and trade policies. It excludes tenant farmers and landless Labour. Even if it did include them, it would have been challenging to identify each one and quantify their number. . At 500 per month, it will amount to less than one flfth of an average household's in come. Per annum, it's peanuts. Amount offered to small and marginal farmers is lower than what is being provided by the governments of Telangana and Odisha. The Rythu Bandhu scheme- of Telangana The scheme offers a financial help of 8,000 per year to each farmer (two crops). There is no cap on the number of acres, and most of the farmers are small and marginal The Krushak Assistance for Livelihood and Income Augmentation (KALIA) scheme- of Odisha offers direct benefit cash transfer of 25,000 for a farm family over five seasons to small and marginal farmers. [28th Jan DNA for more detail] Gamitbgl


  14. 2.Animal Husbandry and Fisheries setor Increased the allocation for Rashtriya Gokul Mission to Rs.750 crore in the current year itself Setting up of "Rashtriya Kamdhenu Aayog" to upscale sustainable genetic up-gradation of cow resources and to enhance production and productivity of cows.The Aayog wil also look after effective implementation of laws and welfare schemes for cows . India is the second largest fish producing nation after China in the world accounting for 63% of global production, registering an average annual growth of more than 7% in recent years. The Blue revolution launched by India has proved to be quite successful. . The sector provides livelihood to about 145 crore people at the primary level. To provide sustained and focused attention towards development of this sector, Government has decided to create a separate Department of Fisheries Oamitbgl


  15. 3.Interest subvention to the farmers . In the last Budget, Government announced the facility of extension of Kisan Credit Card . Now Govt proposed to provide the benefit of 2% interest subvention to the farmers pursuing -Further, in case of timely repayment of loan, they will also get an additional 3% interest scheme (KCC) to Animal Husbandry and Fisheries farmers. the activities of animal husbandry and fisheries, who avail loan through Kisan Credit Card. subvention. In case of natural calamities, strike Presently, the crop loans are rescheduled for such affected farmers and they get benefit of interest subvention of 2% only for the first year of the rescheduled loan Government has now decided that all farmers affected by severe natural calamities, where assistance is provided from National Disaster Relief Fund (NDRF), will be provided the benefit of interest subvention of 2% and prompt repayment incentive of 3% for the entire period of reschedulement of their loans. Camitbgl


  16. Issues in Interest subvention to the farmers One had hoped that interest subvention would be extended for farmers' term loans. classifying them as agricultural income.These measures were overlooked. Income-tax_benefits should have been extended to animal husbandry and fisheries by . The enhanced interest subvention only leads to diversion of funds from agriculture to non- - There is ample evidence that in some states agri-credit is even more than the value of agri- agriculture uses output! So, this scheme of interest subvention needs to be reviewed. Alternatives to interest subvention The real need is to expand the reach of farmers to institutional credit .The Kisan Credit Card (KCC) was an innovative policy of the Vajpayee government, but the latest survey of NABARD on financial inclusion (2015-16) shows that only about 10 per cent ot farmers are usin to expand and deepen its coverage. ards. One needs to understand the constraints and find solutions Camitbgl


  17. Thank you for the trust! Today you are You, that is truer thay true. There is No owe alive who is Youer thay You. Dr.Seuss Oamitbgl