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href="https://www.indiainfoline.com/markets/commodity/commodity-trends" class="ng-star-inserted"><span _ngcontent-serverapp-c2949806389>Commodity Trends</span></a><a _ngcontent-serverapp-c2949806389 href="https://www.indiainfoline.com/ncdex" class="ng-star-inserted"><span _ngcontent-serverapp-c2949806389>NCDEX</span></a><a _ngcontent-serverapp-c2949806389 href="https://www.indiainfoline.com/mcx" class="ng-star-inserted"><span _ngcontent-serverapp-c2949806389>MCX</span></a><span _ngcontent-serverapp-c2949806389 class="ng-star-inserted"></span></div></div></li><li _ngcontent-serverapp-c2949806389 class="ng-star-inserted"><a _ngcontent-serverapp-c2949806389 class="ng-star-inserted" href="https://www.indiainfoline.com/markets/ipo"><span _ngcontent-serverapp-c2949806389>IPO</span><span _ngcontent-serverapp-c2949806389 class="right-arrow ng-star-inserted"><img _ngcontent-serverapp-c2949806389 alt="icon" loading="lazy" src="https://web.indiainfoline.com/assets/img/icon/next-arrow.webp"></span><span _ngcontent-serverapp-c2949806389 class="right-circle ng-star-inserted"><img _ngcontent-serverapp-c2949806389 alt="icon" loading="lazy" src="https://web.indiainfoline.com/assets/img/icon/mega-menu-left-menu-icon.webp"></span></a><div _ngcontent-serverapp-c2949806389 class="dropdown-mega-content ng-star-inserted"><div _ngcontent-serverapp-c2949806389 class="left-menu"><a _ngcontent-serverapp-c2949806389 href="https://www.indiainfoline.com/markets/ipo" class="ng-star-inserted"><span _ngcontent-serverapp-c2949806389>IPO Overview</span></a><a _ngcontent-serverapp-c2949806389 href="https://www.indiainfoline.com/markets/ipo/ipo-fpo-issues" class="ng-star-inserted"><span _ngcontent-serverapp-c2949806389>IPO FPO Issues</span></a><a _ngcontent-serverapp-c2949806389 href="https://www.indiainfoline.com/markets/ipo/new-issue-monitor" class="ng-star-inserted"><span _ngcontent-serverapp-c2949806389>New Issues Monitor</span></a><a _ngcontent-serverapp-c2949806389 href="https://www.indiainfoline.com/markets/ipo/basis-of-allotment" class="ng-star-inserted"><span _ngcontent-serverapp-c2949806389>Basis Of Allotment</span></a><a _ngcontent-serverapp-c2949806389 href="https://www.indiainfoline.com/markets/ipo/sebi-circulars" class="ng-star-inserted"><span _ngcontent-serverapp-c2949806389>SEBI Ciculars</span></a><a _ngcontent-serverapp-c2949806389 href="https://www.indiainfoline.com/markets/ipo/ipo-tutorial" class="ng-star-inserted"><span _ngcontent-serverapp-c2949806389>IPO Tutorials</span></a><a _ngcontent-serverapp-c2949806389 href="https://www.indiainfoline.com/markets/ipo/draft-prospectus" class="ng-star-inserted"><span _ngcontent-serverapp-c2949806389>Draft Prospectus</span></a><a _ngcontent-serverapp-c2949806389 href="https://www.indiainfoline.com/ipo/tata-technologies-ipo" class="ng-star-inserted"><span _ngcontent-serverapp-c2949806389>TATA TECHNOLOGIES LIMITED IPO</span></a><a _ngcontent-serverapp-c2949806389 href="https://www.indiainfoline.com/ipo/gandhar-oil-ipo" class="ng-star-inserted"><span _ngcontent-serverapp-c2949806389>GANDHAR OIL IPO DETAILS</span></a><span _ngcontent-serverapp-c2949806389 class="ng-star-inserted"></span></div></div></li><li _ngcontent-serverapp-c2949806389 class="ng-star-inserted"><a _ngcontent-serverapp-c2949806389 class="ng-star-inserted" href="https://www.indiainfoline.com/marketstatistics/pivot-table/nse/pivottable"><span _ngcontent-serverapp-c2949806389>Pivot Table</span></a></li><li _ngcontent-serverapp-c2949806389 class="ng-star-inserted"><a _ngcontent-serverapp-c2949806389 class="ng-star-inserted" href="https://www.indiainfoline.com/nse"><span _ngcontent-serverapp-c2949806389>NSE</span></a></li><li _ngcontent-serverapp-c2949806389 class="ng-star-inserted"><a _ngcontent-serverapp-c2949806389 class="ng-star-inserted" href="https://www.indiainfoline.com/bse"><span _ngcontent-serverapp-c2949806389>BSE</span></a></li><li _ngcontent-serverapp-c2949806389 class="ng-star-inserted"><a _ngcontent-serverapp-c2949806389 class="ng-star-inserted" href="https://www.indiainfoline.com/markets/commodity/crosscurrency"><span _ngcontent-serverapp-c2949806389>Currency</span><span _ngcontent-serverapp-c2949806389 class="right-arrow ng-star-inserted"><img _ngcontent-serverapp-c2949806389 alt="icon" loading="lazy" src="https://web.indiainfoline.com/assets/img/icon/next-arrow.webp"></span><span _ngcontent-serverapp-c2949806389 class="right-circle ng-star-inserted"><img _ngcontent-serverapp-c2949806389 alt="icon" loading="lazy" src="https://web.indiainfoline.com/assets/img/icon/mega-menu-left-menu-icon.webp"></span></a><div _ngcontent-serverapp-c2949806389 class="dropdown-mega-content ng-star-inserted"><div _ngcontent-serverapp-c2949806389 class="left-menu"><a _ngcontent-serverapp-c2949806389 href="https://www.indiainfoline.com/markets/commodity/crosscurrency" class="ng-star-inserted"><span _ngcontent-serverapp-c2949806389>Overview</span></a><span _ngcontent-serverapp-c2949806389 class="ng-star-inserted"></span></div></div></li><li _ngcontent-serverapp-c2949806389 class="ng-star-inserted"><a _ngcontent-serverapp-c2949806389 class="ng-star-inserted" href="https://www.indiainfoline.com/global-investing/"><span _ngcontent-serverapp-c2949806389>Global Investing</span></a></li><li _ngcontent-serverapp-c2949806389 class="ng-star-inserted"><a _ngcontent-serverapp-c2949806389 class="ng-star-inserted" href="https://www.indiainfoline.com/markets/share-stock-market-live"><span _ngcontent-serverapp-c2949806389>Equities</span><span _ngcontent-serverapp-c2949806389 class="right-arrow ng-star-inserted"><img _ngcontent-serverapp-c2949806389 alt="icon" loading="lazy" src="https://web.indiainfoline.com/assets/img/icon/next-arrow.webp"></span><span _ngcontent-serverapp-c2949806389 class="right-circle ng-star-inserted"><img _ngcontent-serverapp-c2949806389 alt="icon" loading="lazy" 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_ngcontent-serverapp-c2949806389 class="nav-item ng-star-inserted"><a _ngcontent-serverapp-c2949806389 class="d4 ng-star-inserted" href="https://www.indiainfoline.com/business-partners"><span _ngcontent-serverapp-c2949806389 class="ng-star-inserted">Become Business Partner</span></a></li></ul><a _ngcontent-serverapp-c2949806389 href="https://www.indiainfoline.com/open-demat-account" target="_blank" class="widget-btn bg-orange"> Open a Demat Account </a></nav></app-desktop-menu></div></div></header></app-desktop-header></app-master-header><app-breadcrumb-menu _ngcontent-serverapp-c1483525376 _nghost-serverapp-c1654552019><nav _ngcontent-serverapp-c1654552019 class="breadcrumb breadcrumb-top"></nav></app-breadcrumb-menu><div _ngcontent-serverapp-c1483525376><router-outlet _ngcontent-serverapp-c1483525376></router-outlet><app-budget-glossary _nghost-serverapp-c2463925552><div _ngcontent-serverapp-c2463925552 class="container mt-4 mb-4"><div _ngcontent-serverapp-c2463925552 class="widget-block live-news"><div _ngcontent-serverapp-c2463925552 class="widget-content"><app-widget-card-header _ngcontent-serverapp-c2463925552 _nghost-serverapp-c2104841005><span _ngcontent-serverapp-c2104841005><h2 _ngcontent-serverapp-c2104841005 class="small-heading d-block sub-title-h2 mb-0 pb-0">budget Glossary </h2></span></app-widget-card-header><app-accordian-faq _ngcontent-serverapp-c2463925552 _nghost-serverapp-c4037912649 class="ng-star-inserted"><app-scrollbar _ngcontent-serverapp-c4037912649 class="scrollbar" _nghost-serverapp-c3558360025><div _ngcontent-serverapp-c3558360025 class="bars"></div><div _ngcontent-serverapp-c3558360025 class="content"><div _ngcontent-serverapp-c4037912649 class="table-wrap table-responsive ng-star-inserted"><table _ngcontent-serverapp-c4037912649 class="faq-table table-sections table-borderless ng-star-inserted"><tbody _ngcontent-serverapp-c4037912649 id="myGroup"><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">AD-VALOREM DUTIES</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>These are the duties determined as a certain percentage of price of the product.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">ANNUAL FINANCIAL STATEMENT</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>'It is a statement of receipts and expenditure of states for the financial year, presented to Parliament by the government. It is divided into three parts: Consolidated Fund, Contingency Fund and Public Account.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">APPROPRIATION BILL</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>This Bill is like a green signal enabling the withdrawal of money from the Consolidated Fund to pay off expenses. These are instruments that Parliament clears after the demand for grants has been voted by the Lok Sabha.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">BALANCE OF PAYMENTS</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>The difference between demand and supply of a country's currency in the foreign exchange market.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">BALANCE OF TRADE</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>The difference between monetary value of exports and imports of output in an economy over a certain period of time. It is the relationship between a nation's imports and exports.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">Banking cash transaction tax (BCTT)</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>BCTT is a small tax on cash withdrawal from bank exceeding a particular amount in a single day. The basic idea is to curb the black economy and generate a record of big cash transactions. This tax was introduced in 2005-06 budget.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">UDGETARY DEFICIT</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Such a situation arises when expenses exceed revenues. Here the entire budgetary exercise falls short of allocating enough funds to a certain area.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">BUDGET ESTIMATES</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>It is an estimate of Fiscal Deficit and Revenue Deficit for the year. The term is associated with estimates of the Center's spending during the financial year and income received as proceeds of tax revenues.</p><p> </p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">CAPITAL GOODS</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Goods used in the manufacturing of finished products.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">CAPITAL BUDGET</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Capital Budget keeps track of the government's capital receipts and payments. This accounts for market loans, borrowings from the Reserve Bank and other institutions through sale of Treasury Bills, loans acquired from foreign governments and recoveries of loans granted by the Central government to State governments and Union Territories.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">CAPITAL PAYMENTS</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Expenses incurred on acquisition of capital assets.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">CENVAT</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>This is a replacement for the earlier MODVAT scheme and is meant for reducing the cascade effect of indirect taxes on finished products. This is more extensive scheme with most goods brought under its preview.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">CESS</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>'This is an additional levy on the basic tax liability. Governments resort to cess for meeting specific expenditure. For instance, both corporate and individual income is at present subject to an education cess of 2%. In the last Budget, the government had imposed another 1% cess as secondary and higher education cess on income tax to finance secondary and higher education.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">CURRENT ACCOUNT DEFICIT</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>This deficit shows the difference between the nation's exports and imports.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">CURRENT ACCOUNT SURPLUS</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Excess of receipts over expenditure on current account in a country's balance of payments.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">CUSTOM DUTIES</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>These duties are levied on goods whenever they are either brought into the country or exported from the country. The importer or the exporter pays custom duties.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">COUNTERVAILING DUTIES (CVD)</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>This is levied on imports that may lead to price rise in the domestic market. It is imposed with the intention of discouraging unfair trading practices by other countries.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">CONSOLIDATED FUND</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>This is one big reservoir where the government pools all its funds together. The fund includes all government revenues, loans raised and recoveries of loans granted.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">CONSUMER PRICE INDEX</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>It is a price index covering the prices of consumer goods.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">CONTINGENCY FUND</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>It is more or less similar to that extra little bit of savings that all mothers set aside in case of an emergency. Likewise, the government has created this fund to help it tide over difficult situations. The fund is at the disposal of the President to meet unforeseen and urgent expenditure, pending approval from Parliament. The amount that is withdrawn from the fund is recouped.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">CAPITAL EXPENDITURE</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Long-term in nature they are used for acquiring fixed assets such as land, building, machinery and equipment. Other items that also fall under this category include, loans and advances sanctioned by the Center to the State governments, union territories and public sector undertakings.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">CAPITAL RECEIPT</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Capital Receipts consist of loans raised by the Center from the market, government borrowings from the RBI & other parties, sale of Treasury Bills and loans received from foreign governments. Other items that also fall under this category include recovery of loans granted by the Center to State governments & Union Territories and proceeds from the dilution of the government’s stake in Public Sector Undertakings.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">CENTRAL PLAN OUTLAY</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>It refers to the government’s budgetary support to the Plan. It is the division of monetary resources among different sectors in the economy and ministries of the government.</p><p> </p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">DIRECT TAXES</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Taxes paid directly by the person or organization on whom they are lived. Income Tax and Corporate Tax fall under this tax category.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">DISINVESTMENT</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>It is the dilution of government’s stake in Public Sector Undertakings.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">DEMAND FOR GRANTS</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>It is a statement of estimate of expenditure from the Consolidated Fund. This requires approval of the Lok Sabha.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">EXCISE DUTIES</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>These duties refer to duties imposed on goods manufactured within the country.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">FINANCE BILL</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>It is the government’s proposals for imposition of new taxes, modification of the existing tax structure or continuance of the existing tax structure beyond the period approved by Parliament.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">FISCAL DEFICIT</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>It is the difference between the Revenue Receipts and Total Expenditure.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">FISCAL POLICY</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Fiscal policy is a change in government expenditure and/or taxation designed to influence economic activity. These changes are designed to control the level of aggregate demand in the economy. Governments usually bring about changes in taxation, volume of spending, and size of the budget deficit or surplus to affect public expenditure.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">FRINGE BENEFIT TAX (FBT)</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>It is the tax lived on the ‘fringe benefit’ / perks given by a company to its employees. Companies could no longer get away with marking such expenses as ‘ordinary business expenses’ and escape tax when they actually gave out club memberships to their employees. Employers had to now pay a tax (FBT) on a percentage of the expense incurred on such perquisites. This tax was introduced in the 2005-06 budget.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">FRBM ACT</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Enacted in 2003, the Fiscal Responsibility and Budget Management Act required the elimination of revenue deficit by 2008-09 . This means that from 2008-09 , the government was to meet all its revenue expenditure from its revenue receipts. Any borrowing was to be done to meet capital expenditure i.e. repayment of loans, lending and fresh investment. The Act also mandates a 3% limit on the fiscal deficit after 2008-09; one that allows the government to build capacities in the economy without compromising on fiscal stability.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">GROSS DOMESTIC PRODUCT</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Total market value of the goods and services manufactured within the country in a financial year.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">GROSS NATIONAL PRODUCT</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Total market value of the finished goods and services manufactured within the country in a given financial year, plus income earned by the local residents from investments made abroad, minus the income earned by foreigners in the domestic market.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">GST</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>A GST (Goods and Services Tax) contains the entire element of tax borne by a good / service including a Central and a state-level tax.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">INCOME TAX</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>This is the tax levied on individual income from various sources like salaries, investments, interest, etc.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">INDIRECT TAXES</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Taxes imposed on goods manufactured, imported or exported such as Excise Duties and Custom Duties.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">INFLATION</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>A progressive increase in prices of goods and services. It is the percentage rate of change in the price level. In inflation, everything tends to appear more valuable except money.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">MINIMUM ALTERNATE TAX (MAT)</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>It’s known that a company pays tax on profits as per the Income-Tax Act. If a company's tax liability is less than 10% of its profits, it has to pay a minimum alternate tax of 10% of the book profits.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">MODVAT</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>It stands for Modified Value Added Tax and is a way of giving some relief to the final manufacturers of goods on Excise Duties borne by their suppliers.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">MONETIZED DEFICITMONETIZED DEFICIT</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Measures the level of support the RBI provides to the Centre’s borrowing program.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">NATIONAL DEBT</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Total outstanding borrowings of the central government exchequer.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">NON-PLAN EXPENDITURE</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Expenses that don’t form a part of the government’s five year plan. These expenses consist of Revenue and Capital Expenditure on interest payments, Defense Expenditure, subsidies, postal deficit, police, pensions, economic services, loans to public sector enterprises and loans as well as grants to State governments, Union territories and foreign governments.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">NON-TAX REVENUE</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Any loan given to state governments, public institutions, PSUs come with a price (interests) and forms the most important receipts under this head apart from dividends and profits received from PSUs. The government also earns from the various services including public services it provides.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">PEAK RATE PEAK RATE</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>It is the highest rate of Custom Duty applicable on an item.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">PERFORMANCE BUDGET</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>It is a compilation of programs and activities of different ministries and departments.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">PER CAPITA INCOME</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>The national income of a country, or region, divided by its population.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">PROGRESSIVE TAX STRUCTURE</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>A tax structure in which the marginal tax rate increases as the level of income increases.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">PUBLIC ACCOUNT</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>It is an account where money received through transactions not relating to consolidated fund is kept.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">PUBLIC DEBT</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>The difference between borrowings and repayments during the year is the net accretion to the public debt. Public debt can be split into two heads, internal debt (money borrowed within the country) and external debt (funds borrowed from non-Indian sources).</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">PLAN EXPENDITURE</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Consists of both Revenue Expenditure and Capital Expenditure of the Center on the Central Plan, Central Assistance to States and Union Territories.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">PLAN OUTLAY</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Plan Outlay is the amount for expenditure on projects, schemes and programmes announced in the Plan. The money for the Plan Outlay is raised through budgetary support and internal and extra-budgetary resources. The budgetary support is also shown as plan expenditure in government accounts.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">PRIMARY DEFICIT</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Fiscal Deficit minus Interest payments.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">PROPORTIONAL TAX</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>A tax taking the same percentage of income regardless of the level of income.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">REGRESSIVE TAX</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>A tax in which the poor pay a larger percentage of income than the rich. It is the opposite of Progressive Tax.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">REVENUE DEFICIT</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>It is the difference between Revenue Expenditure and Revenue Receipts.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">REVENUE SURPLUS</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Opposite of Revenue Deficit, it is the excess of Revenue Receipts over Revenue Expenditure.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">REVISED ESTIMATES</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Usually given in the following budget, it is the difference between the Budget Estimates and the actual figures.</p><p> </p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">REVENUE BUDGET</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Consists of Revenue Receipts and Revenue Expenditure of the government.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">REVENUE RECEIPT</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Consists of duties imposed by the Centre, interest and dividend on investments made by the government.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">REVENUE EXPENDITURE</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Expenditure incurred for the normal functioning of the government departments and various other services such as interest charges on debt incurred by the government.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">SUBSIDIES</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>Financial aid provided by the Center to individuals or a group of individuals to be competitive. The grant of subsidies is also aimed at improving their skills of those who benefit from the subsidies.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">SUBVENTION</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>This is how a government bears the loss that financial institutions incur when asked to give farmer loans below the market rates.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">SURCHARGE</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>This is an extra bit of 10% on the tax liability that individuals pay for earning more than Rs 10 lakh. Companies with a revenue of up to Rs 1 crore are spared.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">SECURITIES TRANSACTION TAX (STT)</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>STT is a small tax you need to pay on the total amount you pay or receive in a share deal. In the 2004-05 Budget, the government did away with the tax on profits earned on the sale of shares held for over a year (known as long-term capital gains tax) and replaced it with STT.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">TREASURY BILL (T-BILLS )</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>These are bonds (debt securities) with maturity of less than a year. These are issued to meet short-term mismatches in receipts and expenditure.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">VAT</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>This tax is based on the difference between the value of output and the value of inputs used to produce it. The aim here is to tax a firm only for the value it adds to the manufacturing inputs, and not the entire input cost. Thus, VAT helps avoid a cascading of taxes as a product passes through different stages of production/value addition.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">VOTE ON ACCOUNT</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>It is a sort of interim budget where the government presents accounts required to keep the process on until the next government takes over.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">WAYS AND MEANS ADVANCE (WMA)</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><p>RBI is the banker for both Central and State governments. Hence, it provides a breather to manage mismatches in their receipts and payments in the form of ways and means advances.</p></span></div></td></tr><tr _ngcontent-serverapp-c4037912649 class="table-infos ng-star-inserted"><td _ngcontent-serverapp-c4037912649><p _ngcontent-serverapp-c4037912649 class="title">WHOLESALE PRICE INDEX</p></td><td _ngcontent-serverapp-c4037912649 class="arorow"><svg _ngcontent-serverapp-c4037912649="" width="7%" height="100%" viewBox="0 0 10 7" fill="none" xmlns="http://www.w3.org/2000/svg" fit="" preserveAspectRatio="xMidYMid meet" focusable="false" class="uparrrow"><path _ngcontent-serverapp-c4037912649="" d="M9 1L5 5L1 1" stroke="#F26F21" stroke-width="2"/></svg></td></tr><tr _ngcontent-serverapp-c4037912649 class="hiddenRow show ng-star-inserted" hidden><td _ngcontent-serverapp-c4037912649 colspan="6" class="w-100"><div _ngcontent-serverapp-c4037912649 class="drop-info"><span _ngcontent-serverapp-c4037912649><figure class="table"><table><tbody><tr><td>Prices of goods that are dealt with wholesale (mostly inputs to production, rather than finished commodities).</td></tr><tr><td> </td></tr></tbody></table></figure><p><br> </p></span></div></td></tr></tbody></table></div></div></app-scrollbar></app-accordian-faq><br _ngcontent-serverapp-c2463925552 class="ng-star-inserted"></div></div></div></app-budget-glossary></div><app-master-footer _ngcontent-serverapp-c1483525376 ngskiphydration _nghost-serverapp-c2652668209><div _ngcontent-serverapp-c2652668209 class="short-link-icons"><div _ngcontent-serverapp-c2652668209 class="widget-content"><ul _ngcontent-serverapp-c2652668209><li _ngcontent-serverapp-c2652668209 id="topBtn" class="cursor-pointer"><img _ngcontent-serverapp-c2652668209 alt="export icon" width="16" height="15" loading="lazy" src="https://web.indiainfoline.com/assets/img/icon/export-icon.svg"></li></ul></div></div><div _ngcontent-serverapp-c2652668209 class="col-md-6 widget-block 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It is divided into three parts: Consolidated Fund, Contingency Fund and Public Account.\u003C/p>","position":"budgetGlossary","creationDate":1675236285,"modificationDate":1675236285,"isActive":true,"isShow":true},{"faqId":548,"question":"APPROPRIATION BILL","answer":"\u003Cp>This Bill is like a green signal enabling the withdrawal of money from the Consolidated Fund to pay off expenses. These are instruments that Parliament clears after the demand for grants has been voted by the Lok Sabha.\u003C/p>","position":"budgetGlossary","creationDate":1675236259,"modificationDate":1675236259,"isActive":true,"isShow":true},{"faqId":547,"question":"BALANCE OF PAYMENTS","answer":"\u003Cp>The difference between demand and supply of a country's currency in the foreign exchange market.\u003C/p>","position":"budgetGlossary","creationDate":1675236232,"modificationDate":1675236232,"isActive":true,"isShow":true},{"faqId":546,"question":"BALANCE OF TRADE","answer":"\u003Cp>The difference between monetary value of exports and imports of output in an economy over a certain period of time. It is the relationship between a nation's imports and exports.\u003C/p>","position":"budgetGlossary","creationDate":1675235841,"modificationDate":1675235841,"isActive":true,"isShow":true},{"faqId":545,"question":"Banking cash transaction tax (BCTT)","answer":"\u003Cp>BCTT is a small tax on cash withdrawal from bank exceeding a particular amount in a single day. The basic idea is to curb the black economy and generate a record of big cash transactions. This tax was introduced in 2005-06 budget.\u003C/p>","position":"budgetGlossary","creationDate":1675235680,"modificationDate":1675235680,"isActive":true,"isShow":true},{"faqId":544,"question":"UDGETARY DEFICIT","answer":"\u003Cp>Such a situation arises when expenses exceed revenues. Here the entire budgetary exercise falls short of allocating enough funds to a certain area.\u003C/p>","position":"budgetGlossary","creationDate":1675235646,"modificationDate":1675235646,"isActive":true,"isShow":true},{"faqId":543,"question":"BUDGET ESTIMATES","answer":"\u003Cp>It is an estimate of Fiscal Deficit and Revenue Deficit for the year. The term is associated with estimates of the Center's spending during the financial year and income received as proceeds of tax revenues.\u003C/p>\u003Cp> \u003C/p>","position":"budgetGlossary","creationDate":1675235612,"modificationDate":1675235612,"isActive":true,"isShow":true},{"faqId":542,"question":"CAPITAL GOODS","answer":"\u003Cp>Goods used in the manufacturing of finished products.\u003C/p>","position":"budgetGlossary","creationDate":1675235547,"modificationDate":1675235547,"isActive":true,"isShow":true},{"faqId":541,"question":"CAPITAL BUDGET","answer":"\u003Cp>Capital Budget keeps track of the government's capital receipts and payments. This accounts for market loans, borrowings from the Reserve Bank and other institutions through sale of Treasury Bills, loans acquired from foreign governments and recoveries of loans granted by the Central government to State governments and Union Territories.\u003C/p>","position":"budgetGlossary","creationDate":1675235506,"modificationDate":1675235506,"isActive":true,"isShow":true},{"faqId":540,"question":"CAPITAL PAYMENTS","answer":"\u003Cp>Expenses incurred on acquisition of capital assets.\u003C/p>","position":"budgetGlossary","creationDate":1675235476,"modificationDate":1675235476,"isActive":true,"isShow":true},{"faqId":539,"question":"CENVAT","answer":"\u003Cp>This is a replacement for the earlier MODVAT scheme and is meant for reducing the cascade effect of indirect taxes on finished products. This is more extensive scheme with most goods brought under its preview.\u003C/p>","position":"budgetGlossary","creationDate":1675235444,"modificationDate":1675235444,"isActive":true,"isShow":true},{"faqId":538,"question":"CESS","answer":"\u003Cp>'This is an additional levy on the basic tax liability. Governments resort to cess for meeting specific expenditure. For instance, both corporate and individual income is at present subject to an education cess of 2%. In the last Budget, the government had imposed another 1% cess as secondary and higher education cess on income tax to finance secondary and higher education.\u003C/p>","position":"budgetGlossary","creationDate":1675235419,"modificationDate":1675235419,"isActive":true,"isShow":true},{"faqId":537,"question":"CURRENT ACCOUNT DEFICIT","answer":"\u003Cp>This deficit shows the difference between the nation's exports and imports.\u003C/p>","position":"budgetGlossary","creationDate":1675235385,"modificationDate":1675235385,"isActive":true,"isShow":true},{"faqId":536,"question":"CURRENT ACCOUNT SURPLUS","answer":"\u003Cp>Excess of receipts over expenditure on current account in a country's balance of payments.\u003C/p>","position":"budgetGlossary","creationDate":1675235361,"modificationDate":1675235361,"isActive":true,"isShow":true},{"faqId":535,"question":"CUSTOM DUTIES","answer":"\u003Cp>These duties are levied on goods whenever they are either brought into the country or exported from the country. The importer or the exporter pays custom duties.\u003C/p>","position":"budgetGlossary","creationDate":1675235331,"modificationDate":1675235331,"isActive":true,"isShow":true},{"faqId":534,"question":"COUNTERVAILING DUTIES (CVD)","answer":"\u003Cp>This is levied on imports that may lead to price rise in the domestic market. It is imposed with the intention of discouraging unfair trading practices by other countries.\u003C/p>","position":"budgetGlossary","creationDate":1675235249,"modificationDate":1675235249,"isActive":true,"isShow":true},{"faqId":533,"question":"CONSOLIDATED FUND","answer":"\u003Cp>This is one big reservoir where the government pools all its funds together. The fund includes all government revenues, loans raised and recoveries of loans granted.\u003C/p>","position":"budgetGlossary","creationDate":1675235213,"modificationDate":1675235213,"isActive":true,"isShow":true},{"faqId":532,"question":"CONSUMER PRICE INDEX","answer":"\u003Cp>It is a price index covering the prices of consumer goods.\u003C/p>","position":"budgetGlossary","creationDate":1675235007,"modificationDate":1675235007,"isActive":true,"isShow":true},{"faqId":531,"question":"CONTINGENCY FUND","answer":"\u003Cp>It is more or less similar to that extra little bit of savings that all mothers set aside in case of an emergency. Likewise, the government has created this fund to help it tide over difficult situations. The fund is at the disposal of the President to meet unforeseen and urgent expenditure, pending approval from Parliament. The amount that is withdrawn from the fund is recouped.\u003C/p>","position":"budgetGlossary","creationDate":1675234701,"modificationDate":1675234701,"isActive":true,"isShow":true},{"faqId":530,"question":"CAPITAL EXPENDITURE","answer":"\u003Cp>Long-term in nature they are used for acquiring fixed assets such as land, building, machinery and equipment. Other items that also fall under this category include, loans and advances sanctioned by the Center to the State governments, union territories and public sector undertakings.\u003C/p>","position":"budgetGlossary","creationDate":1675234679,"modificationDate":1675234679,"isActive":true,"isShow":true},{"faqId":529,"question":"CAPITAL RECEIPT","answer":"\u003Cp>Capital Receipts consist of loans raised by the Center from the market, government borrowings from the RBI & other parties, sale of Treasury Bills and loans received from foreign governments. Other items that also fall under this category include recovery of loans granted by the Center to State governments & Union Territories and proceeds from the dilution of the government’s stake in Public Sector Undertakings.\u003C/p>","position":"budgetGlossary","creationDate":1675234639,"modificationDate":1675234639,"isActive":true,"isShow":true},{"faqId":528,"question":"CENTRAL PLAN OUTLAY","answer":"\u003Cp>It refers to the government’s budgetary support to the Plan. It is the division of monetary resources among different sectors in the economy and ministries of the government.\u003C/p>\u003Cp> \u003C/p>","position":"budgetGlossary","creationDate":1675234610,"modificationDate":1675234610,"isActive":true,"isShow":true},{"faqId":527,"question":"DIRECT TAXES","answer":"\u003Cp>Taxes paid directly by the person or organization on whom they are lived. Income Tax and Corporate Tax fall under this tax category.\u003C/p>","position":"budgetGlossary","creationDate":1675234285,"modificationDate":1675234285,"isActive":true,"isShow":true},{"faqId":526,"question":"DISINVESTMENT","answer":"\u003Cp>It is the dilution of government’s stake in Public Sector Undertakings.\u003C/p>","position":"budgetGlossary","creationDate":1675234254,"modificationDate":1675234254,"isActive":true,"isShow":true},{"faqId":525,"question":"DEMAND FOR GRANTS","answer":"\u003Cp>It is a statement of estimate of expenditure from the Consolidated Fund. This requires approval of the Lok Sabha.\u003C/p>","position":"budgetGlossary","creationDate":1675234140,"modificationDate":1675234140,"isActive":true,"isShow":true},{"faqId":524,"question":"EXCISE DUTIES","answer":"\u003Cp>These duties refer to duties imposed on goods manufactured within the country.\u003C/p>","position":"budgetGlossary","creationDate":1675234117,"modificationDate":1675234117,"isActive":true,"isShow":true},{"faqId":523,"question":"FINANCE BILL","answer":"\u003Cp>It is the government’s proposals for imposition of new taxes, modification of the existing tax structure or continuance of the existing tax structure beyond the period approved by Parliament.\u003C/p>","position":"budgetGlossary","creationDate":1675234096,"modificationDate":1675234096,"isActive":true,"isShow":true},{"faqId":522,"question":"FISCAL DEFICIT","answer":"\u003Cp>It is the difference between the Revenue Receipts and Total Expenditure.\u003C/p>","position":"budgetGlossary","creationDate":1675234073,"modificationDate":1675234073,"isActive":true,"isShow":true},{"faqId":521,"question":"FISCAL POLICY","answer":"\u003Cp>Fiscal policy is a change in government expenditure and/or taxation designed to influence economic activity. These changes are designed to control the level of aggregate demand in the economy. Governments usually bring about changes in taxation, volume of spending, and size of the budget deficit or surplus to affect public expenditure.\u003C/p>","position":"budgetGlossary","creationDate":1675234034,"modificationDate":1675234034,"isActive":true,"isShow":true},{"faqId":520,"question":"FRINGE BENEFIT TAX (FBT)","answer":"\u003Cp>It is the tax lived on the ‘fringe benefit’ / perks given by a company to its employees. Companies could no longer get away with marking such expenses as ‘ordinary business expenses’ and escape tax when they actually gave out club memberships to their employees. Employers had to now pay a tax (FBT) on a percentage of the expense incurred on such perquisites. This tax was introduced in the 2005-06 budget.\u003C/p>","position":"budgetGlossary","creationDate":1675234012,"modificationDate":1675234012,"isActive":true,"isShow":true},{"faqId":519,"question":"FRBM ACT","answer":"\u003Cp>Enacted in 2003, the Fiscal Responsibility and Budget Management Act required the elimination of revenue deficit by 2008-09 . This means that from 2008-09 , the government was to meet all its revenue expenditure from its revenue receipts. Any borrowing was to be done to meet capital expenditure i.e. repayment of loans, lending and fresh investment. The Act also mandates a 3% limit on the fiscal deficit after 2008-09; one that allows the government to build capacities in the economy without compromising on fiscal stability.\u003C/p>","position":"budgetGlossary","creationDate":1675233985,"modificationDate":1675233985,"isActive":true,"isShow":true},{"faqId":518,"question":"GROSS DOMESTIC PRODUCT","answer":"\u003Cp>Total market value of the goods and services manufactured within the country in a financial year.\u003C/p>","position":"budgetGlossary","creationDate":1675233954,"modificationDate":1675233954,"isActive":true,"isShow":true},{"faqId":517,"question":"GROSS NATIONAL PRODUCT","answer":"\u003Cp>Total market value of the finished goods and services manufactured within the country in a given financial year, plus income earned by the local residents from investments made abroad, minus the income earned by foreigners in the domestic market.\u003C/p>","position":"budgetGlossary","creationDate":1675233917,"modificationDate":1675233917,"isActive":true,"isShow":true},{"faqId":516,"question":"GST","answer":"\u003Cp>A GST (Goods and Services Tax) contains the entire element of tax borne by a good / service including a Central and a state-level tax.\u003C/p>","position":"budgetGlossary","creationDate":1675233882,"modificationDate":1675233882,"isActive":true,"isShow":true},{"faqId":515,"question":"INCOME TAX","answer":"\u003Cp>This is the tax levied on individual income from various sources like salaries, investments, interest, etc.\u003C/p>","position":"budgetGlossary","creationDate":1675233848,"modificationDate":1675233848,"isActive":true,"isShow":true},{"faqId":514,"question":"INDIRECT TAXES","answer":"\u003Cp>Taxes imposed on goods manufactured, imported or exported such as Excise Duties and Custom Duties.\u003C/p>","position":"budgetGlossary","creationDate":1675233328,"modificationDate":1675233328,"isActive":true,"isShow":true},{"faqId":513,"question":"INFLATION","answer":"\u003Cp>A progressive increase in prices of goods and services. It is the percentage rate of change in the price level. In inflation, everything tends to appear more valuable except money.\u003C/p>","position":"budgetGlossary","creationDate":1675232315,"modificationDate":1675232315,"isActive":true,"isShow":true},{"faqId":512,"question":"MINIMUM ALTERNATE TAX (MAT)","answer":"\u003Cp>It’s known that a company pays tax on profits as per the Income-Tax Act. If a company's tax liability is less than 10% of its profits, it has to pay a minimum alternate tax of 10% of the book profits.\u003C/p>","position":"budgetGlossary","creationDate":1675232278,"modificationDate":1675232278,"isActive":true,"isShow":true},{"faqId":511,"question":"MODVAT","answer":"\u003Cp>It stands for Modified Value Added Tax and is a way of giving some relief to the final manufacturers of goods on Excise Duties borne by their suppliers.\u003C/p>","position":"budgetGlossary","creationDate":1675232251,"modificationDate":1675232251,"isActive":true,"isShow":true},{"faqId":510,"question":"MONETIZED DEFICITMONETIZED DEFICIT","answer":"\u003Cp>Measures the level of support the RBI provides to the Centre’s borrowing program.\u003C/p>","position":"budgetGlossary","creationDate":1675232226,"modificationDate":1675232226,"isActive":true,"isShow":true},{"faqId":509,"question":"NATIONAL DEBT","answer":"\u003Cp>Total outstanding borrowings of the central government exchequer.\u003C/p>","position":"budgetGlossary","creationDate":1675232187,"modificationDate":1675232187,"isActive":true,"isShow":true},{"faqId":508,"question":"NON-PLAN EXPENDITURE","answer":"\u003Cp>Expenses that don’t form a part of the government’s five year plan. These expenses consist of Revenue and Capital Expenditure on interest payments, Defense Expenditure, subsidies, postal deficit, police, pensions, economic services, loans to public sector enterprises and loans as well as grants to State governments, Union territories and foreign governments.\u003C/p>","position":"budgetGlossary","creationDate":1675231154,"modificationDate":1675231154,"isActive":true,"isShow":true},{"faqId":507,"question":"NON-TAX REVENUE","answer":"\u003Cp>Any loan given to state governments, public institutions, PSUs come with a price (interests) and forms the most important receipts under this head apart from dividends and profits received from PSUs. The government also earns from the various services including public services it provides.\u003C/p>","position":"budgetGlossary","creationDate":1675231126,"modificationDate":1675231126,"isActive":true,"isShow":true},{"faqId":506,"question":"PEAK RATE\n\nPEAK RATE","answer":"\u003Cp>It is the highest rate of Custom Duty applicable on an item.\u003C/p>","position":"budgetGlossary","creationDate":1675231082,"modificationDate":1675231082,"isActive":true,"isShow":true},{"faqId":505,"question":"PERFORMANCE BUDGET","answer":"\u003Cp>It is a compilation of programs and activities of different ministries and departments.\u003C/p>","position":"budgetGlossary","creationDate":1675230835,"modificationDate":1675230835,"isActive":true,"isShow":true},{"faqId":504,"question":"PER CAPITA INCOME","answer":"\u003Cp>The national income of a country, or region, divided by its population.\u003C/p>","position":"budgetGlossary","creationDate":1675230811,"modificationDate":1675230811,"isActive":true,"isShow":true},{"faqId":503,"question":"PROGRESSIVE TAX STRUCTURE","answer":"\u003Cp>A tax structure in which the marginal tax rate increases as the level of income increases.\u003C/p>","position":"budgetGlossary","creationDate":1675230781,"modificationDate":1675230781,"isActive":true,"isShow":true},{"faqId":502,"question":"PUBLIC ACCOUNT","answer":"\u003Cp>It is an account where money received through transactions not relating to consolidated fund is kept.\u003C/p>","position":"budgetGlossary","creationDate":1675230755,"modificationDate":1675230755,"isActive":true,"isShow":true},{"faqId":501,"question":"PUBLIC DEBT","answer":"\u003Cp>The difference between borrowings and repayments during the year is the net accretion to the public debt. Public debt can be split into two heads, internal debt (money borrowed within the country) and external debt (funds borrowed from non-Indian sources).\u003C/p>","position":"budgetGlossary","creationDate":1675230699,"modificationDate":1675230699,"isActive":true,"isShow":true},{"faqId":500,"question":"PLAN EXPENDITURE","answer":"\u003Cp>Consists of both Revenue Expenditure and Capital Expenditure of the Center on the Central Plan, Central Assistance to States and Union Territories.\u003C/p>","position":"budgetGlossary","creationDate":1675230668,"modificationDate":1675230668,"isActive":true,"isShow":true},{"faqId":499,"question":"PLAN OUTLAY","answer":"\u003Cp>Plan Outlay is the amount for expenditure on projects, schemes and programmes announced in the Plan. The money for the Plan Outlay is raised through budgetary support and internal and extra-budgetary resources. The budgetary support is also shown as plan expenditure in government accounts.\u003C/p>","position":"budgetGlossary","creationDate":1675230639,"modificationDate":1675230639,"isActive":true,"isShow":true},{"faqId":498,"question":"PRIMARY DEFICIT","answer":"\u003Cp>Fiscal Deficit minus Interest payments.\u003C/p>","position":"budgetGlossary","creationDate":1675230601,"modificationDate":1675230601,"isActive":true,"isShow":true},{"faqId":497,"question":"PROPORTIONAL TAX","answer":"\u003Cp>A tax taking the same percentage of income regardless of the level of income.\u003C/p>","position":"budgetGlossary","creationDate":1675230577,"modificationDate":1675230577,"isActive":true,"isShow":true},{"faqId":496,"question":"REGRESSIVE TAX","answer":"\u003Cp>A tax in which the poor pay a larger percentage of income than the rich. It is the opposite of Progressive Tax.\u003C/p>","position":"budgetGlossary","creationDate":1675229095,"modificationDate":1675229095,"isActive":true,"isShow":true},{"faqId":495,"question":"REVENUE DEFICIT","answer":"\u003Cp>It is the difference between Revenue Expenditure and Revenue Receipts.\u003C/p>","position":"budgetGlossary","creationDate":1675228988,"modificationDate":1675228988,"isActive":true,"isShow":true},{"faqId":494,"question":"REVENUE SURPLUS","answer":"\u003Cp>Opposite of Revenue Deficit, it is the excess of Revenue Receipts over Revenue Expenditure.\u003C/p>","position":"budgetGlossary","creationDate":1675228946,"modificationDate":1675228946,"isActive":true,"isShow":true},{"faqId":493,"question":"REVISED ESTIMATES","answer":"\u003Cp>Usually given in the following budget, it is the difference between the Budget Estimates and the actual figures.\u003C/p>\u003Cp> \u003C/p>","position":"budgetGlossary","creationDate":1675228908,"modificationDate":1675228908,"isActive":true,"isShow":true},{"faqId":492,"question":"REVENUE BUDGET","answer":"\u003Cp>Consists of Revenue Receipts and Revenue Expenditure of the government.\u003C/p>","position":"budgetGlossary","creationDate":1675228884,"modificationDate":1675228884,"isActive":true,"isShow":true},{"faqId":491,"question":"REVENUE RECEIPT","answer":"\u003Cp>Consists of duties imposed by the Centre, interest and dividend on investments made by the government.\u003C/p>","position":"budgetGlossary","creationDate":1675228858,"modificationDate":1675228858,"isActive":true,"isShow":true},{"faqId":490,"question":"REVENUE EXPENDITURE","answer":"\u003Cp>Expenditure incurred for the normal functioning of the government departments and various other services such as interest charges on debt incurred by the government.\u003C/p>","position":"budgetGlossary","creationDate":1675174111,"modificationDate":1675174111,"isActive":true,"isShow":true},{"faqId":489,"question":"SUBSIDIES","answer":"\u003Cp>Financial aid provided by the Center to individuals or a group of individuals to be competitive. The grant of subsidies is also aimed at improving their skills of those who benefit from the subsidies.\u003C/p>","position":"budgetGlossary","creationDate":1675174077,"modificationDate":1675174077,"isActive":true,"isShow":true},{"faqId":488,"question":"SUBVENTION","answer":"\u003Cp>This is how a government bears the loss that financial institutions incur when asked to give farmer loans below the market rates.\u003C/p>","position":"budgetGlossary","creationDate":1675174048,"modificationDate":1675174048,"isActive":true,"isShow":true},{"faqId":487,"question":"SURCHARGE","answer":"\u003Cp>This is an extra bit of 10% on the tax liability that individuals pay for earning more than Rs 10 lakh. Companies with a revenue of up to Rs 1 crore are spared.\u003C/p>","position":"budgetGlossary","creationDate":1675171632,"modificationDate":1675171632,"isActive":true,"isShow":true},{"faqId":486,"question":"SECURITIES TRANSACTION TAX (STT)","answer":"\u003Cp>STT is a small tax you need to pay on the total amount you pay or receive in a share deal. In the 2004-05 Budget, the government did away with the tax on profits earned on the sale of shares held for over a year (known as long-term capital gains tax) and replaced it with STT.\u003C/p>","position":"budgetGlossary","creationDate":1675171433,"modificationDate":1675171433,"isActive":true,"isShow":true},{"faqId":485,"question":"TREASURY BILL (T-BILLS )","answer":"\u003Cp>These are bonds (debt securities) with maturity of less than a year. These are issued to meet short-term mismatches in receipts and expenditure.\u003C/p>","position":"budgetGlossary","creationDate":1675171401,"modificationDate":1675171401,"isActive":true,"isShow":true},{"faqId":484,"question":"VAT","answer":"\u003Cp>This tax is based on the difference between the value of output and the value of inputs used to produce it. The aim here is to tax a firm only for the value it adds to the manufacturing inputs, and not the entire input cost. Thus, VAT helps avoid a cascading of taxes as a product passes through different stages of production/value addition.\u003C/p>","position":"budgetGlossary","creationDate":1675171373,"modificationDate":1675171373,"isActive":true,"isShow":true},{"faqId":483,"question":"VOTE ON ACCOUNT","answer":"\u003Cp>It is a sort of interim budget where the government presents accounts required to keep the process on until the next government takes over.\u003C/p>","position":"budgetGlossary","creationDate":1675171335,"modificationDate":1675171335,"isActive":true,"isShow":true},{"faqId":482,"question":"WAYS AND MEANS ADVANCE (WMA)","answer":"\u003Cp>RBI is the banker for both Central and State governments. Hence, it provides a breather to manage mismatches in their receipts and payments in the form of ways and means advances.\u003C/p>","position":"budgetGlossary","creationDate":1675171304,"modificationDate":1675171304,"isActive":true,"isShow":true},{"faqId":481,"question":"WHOLESALE PRICE INDEX","answer":"\u003Cfigure class='table' style='width:1060px;'>\u003Ctable style='background-color:rgb(255, 255, 255);'>\u003Ctbody>\u003Ctr>\u003Ctd style='border-bottom:0px;border-left:0px;border-right:0px;border-top:0px;width:1060px;'>Prices of goods that are dealt with wholesale (mostly inputs to production, rather than finished commodities).\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd style='border-bottom:0px;border-left:0px;border-right:0px;border-top:0px;padding:15px 5px !important;'> \u003C/td>\u003C/tr>\u003C/tbody>\u003C/table>\u003C/figure>\u003Cp>\u003Cbr> \u003C/p>","position":"budgetGlossary","creationDate":1675171246,"modificationDate":1675171246,"isActive":true,"isShow":true}],"meta":{"totalItems":70,"itemCount":70,"itemsPerPage":100,"totalPages":1,"currentPage":1}}},"headers":{"vary":["Origin, accept-encoding"],"access-control-allow-origin":[""],"content-type":["application/json; charset=utf-8"],"content-length":["23982"],"date":["Wed, 26 Feb 2025 21:10:22 GMT"],"x-envoy-upstream-service-time":["9"],"server":["envoy"]},"status":200,"statusText":"OK","url":"http://fgcm-api-service.default.svc.cluster.local:9000/api/fgcm/v1/web/faq?page=1&limit=100&position=budgetGlossary","responseType":"json"},"https://api.indiainfoline.com/api/fgcm/v1/web/faq?page=1&limit=100&position=budgetGlossary":{"statusCode":200,"message":"Data received succsesfully","data":{"items":[{"faqId":550,"question":"AD-VALOREM DUTIES","answer":"\u003Cp>These are the duties determined as a certain percentage of price of the product.\u003C/p>","position":"budgetGlossary","creationDate":1675236312,"modificationDate":1675236312,"isActive":true,"isShow":true},{"faqId":549,"question":"ANNUAL FINANCIAL STATEMENT","answer":"\u003Cp>'It is a statement of receipts and expenditure of states for the financial year, presented to Parliament by the government. It is divided into three parts: Consolidated Fund, Contingency Fund and Public Account.\u003C/p>","position":"budgetGlossary","creationDate":1675236285,"modificationDate":1675236285,"isActive":true,"isShow":true},{"faqId":548,"question":"APPROPRIATION BILL","answer":"\u003Cp>This Bill is like a green signal enabling the withdrawal of money from the Consolidated Fund to pay off expenses. These are instruments that Parliament clears after the demand for grants has been voted by the Lok Sabha.\u003C/p>","position":"budgetGlossary","creationDate":1675236259,"modificationDate":1675236259,"isActive":true,"isShow":true},{"faqId":547,"question":"BALANCE OF PAYMENTS","answer":"\u003Cp>The difference between demand and supply of a country's currency in the foreign exchange market.\u003C/p>","position":"budgetGlossary","creationDate":1675236232,"modificationDate":1675236232,"isActive":true,"isShow":true},{"faqId":546,"question":"BALANCE OF TRADE","answer":"\u003Cp>The difference between monetary value of exports and imports of output in an economy over a certain period of time. It is the relationship between a nation's imports and exports.\u003C/p>","position":"budgetGlossary","creationDate":1675235841,"modificationDate":1675235841,"isActive":true,"isShow":true},{"faqId":545,"question":"Banking cash transaction tax (BCTT)","answer":"\u003Cp>BCTT is a small tax on cash withdrawal from bank exceeding a particular amount in a single day. The basic idea is to curb the black economy and generate a record of big cash transactions. This tax was introduced in 2005-06 budget.\u003C/p>","position":"budgetGlossary","creationDate":1675235680,"modificationDate":1675235680,"isActive":true,"isShow":true},{"faqId":544,"question":"UDGETARY DEFICIT","answer":"\u003Cp>Such a situation arises when expenses exceed revenues. Here the entire budgetary exercise falls short of allocating enough funds to a certain area.\u003C/p>","position":"budgetGlossary","creationDate":1675235646,"modificationDate":1675235646,"isActive":true,"isShow":true},{"faqId":543,"question":"BUDGET ESTIMATES","answer":"\u003Cp>It is an estimate of Fiscal Deficit and Revenue Deficit for the year. The term is associated with estimates of the Center's spending during the financial year and income received as proceeds of tax revenues.\u003C/p>\u003Cp> \u003C/p>","position":"budgetGlossary","creationDate":1675235612,"modificationDate":1675235612,"isActive":true,"isShow":true},{"faqId":542,"question":"CAPITAL GOODS","answer":"\u003Cp>Goods used in the manufacturing of finished products.\u003C/p>","position":"budgetGlossary","creationDate":1675235547,"modificationDate":1675235547,"isActive":true,"isShow":true},{"faqId":541,"question":"CAPITAL BUDGET","answer":"\u003Cp>Capital Budget keeps track of the government's capital receipts and payments. This accounts for market loans, borrowings from the Reserve Bank and other institutions through sale of Treasury Bills, loans acquired from foreign governments and recoveries of loans granted by the Central government to State governments and Union Territories.\u003C/p>","position":"budgetGlossary","creationDate":1675235506,"modificationDate":1675235506,"isActive":true,"isShow":true},{"faqId":540,"question":"CAPITAL PAYMENTS","answer":"\u003Cp>Expenses incurred on acquisition of capital assets.\u003C/p>","position":"budgetGlossary","creationDate":1675235476,"modificationDate":1675235476,"isActive":true,"isShow":true},{"faqId":539,"question":"CENVAT","answer":"\u003Cp>This is a replacement for the earlier MODVAT scheme and is meant for reducing the cascade effect of indirect taxes on finished products. This is more extensive scheme with most goods brought under its preview.\u003C/p>","position":"budgetGlossary","creationDate":1675235444,"modificationDate":1675235444,"isActive":true,"isShow":true},{"faqId":538,"question":"CESS","answer":"\u003Cp>'This is an additional levy on the basic tax liability. Governments resort to cess for meeting specific expenditure. For instance, both corporate and individual income is at present subject to an education cess of 2%. In the last Budget, the government had imposed another 1% cess as secondary and higher education cess on income tax to finance secondary and higher education.\u003C/p>","position":"budgetGlossary","creationDate":1675235419,"modificationDate":1675235419,"isActive":true,"isShow":true},{"faqId":537,"question":"CURRENT ACCOUNT DEFICIT","answer":"\u003Cp>This deficit shows the difference between the nation's exports and imports.\u003C/p>","position":"budgetGlossary","creationDate":1675235385,"modificationDate":1675235385,"isActive":true,"isShow":true},{"faqId":536,"question":"CURRENT ACCOUNT SURPLUS","answer":"\u003Cp>Excess of receipts over expenditure on current account in a country's balance of payments.\u003C/p>","position":"budgetGlossary","creationDate":1675235361,"modificationDate":1675235361,"isActive":true,"isShow":true},{"faqId":535,"question":"CUSTOM DUTIES","answer":"\u003Cp>These duties are levied on goods whenever they are either brought into the country or exported from the country. The importer or the exporter pays custom duties.\u003C/p>","position":"budgetGlossary","creationDate":1675235331,"modificationDate":1675235331,"isActive":true,"isShow":true},{"faqId":534,"question":"COUNTERVAILING DUTIES (CVD)","answer":"\u003Cp>This is levied on imports that may lead to price rise in the domestic market. It is imposed with the intention of discouraging unfair trading practices by other countries.\u003C/p>","position":"budgetGlossary","creationDate":1675235249,"modificationDate":1675235249,"isActive":true,"isShow":true},{"faqId":533,"question":"CONSOLIDATED FUND","answer":"\u003Cp>This is one big reservoir where the government pools all its funds together. The fund includes all government revenues, loans raised and recoveries of loans granted.\u003C/p>","position":"budgetGlossary","creationDate":1675235213,"modificationDate":1675235213,"isActive":true,"isShow":true},{"faqId":532,"question":"CONSUMER PRICE INDEX","answer":"\u003Cp>It is a price index covering the prices of consumer goods.\u003C/p>","position":"budgetGlossary","creationDate":1675235007,"modificationDate":1675235007,"isActive":true,"isShow":true},{"faqId":531,"question":"CONTINGENCY FUND","answer":"\u003Cp>It is more or less similar to that extra little bit of savings that all mothers set aside in case of an emergency. Likewise, the government has created this fund to help it tide over difficult situations. The fund is at the disposal of the President to meet unforeseen and urgent expenditure, pending approval from Parliament. The amount that is withdrawn from the fund is recouped.\u003C/p>","position":"budgetGlossary","creationDate":1675234701,"modificationDate":1675234701,"isActive":true,"isShow":true},{"faqId":530,"question":"CAPITAL EXPENDITURE","answer":"\u003Cp>Long-term in nature they are used for acquiring fixed assets such as land, building, machinery and equipment. Other items that also fall under this category include, loans and advances sanctioned by the Center to the State governments, union territories and public sector undertakings.\u003C/p>","position":"budgetGlossary","creationDate":1675234679,"modificationDate":1675234679,"isActive":true,"isShow":true},{"faqId":529,"question":"CAPITAL RECEIPT","answer":"\u003Cp>Capital Receipts consist of loans raised by the Center from the market, government borrowings from the RBI & other parties, sale of Treasury Bills and loans received from foreign governments. Other items that also fall under this category include recovery of loans granted by the Center to State governments & Union Territories and proceeds from the dilution of the government’s stake in Public Sector Undertakings.\u003C/p>","position":"budgetGlossary","creationDate":1675234639,"modificationDate":1675234639,"isActive":true,"isShow":true},{"faqId":528,"question":"CENTRAL PLAN OUTLAY","answer":"\u003Cp>It refers to the government’s budgetary support to the Plan. It is the division of monetary resources among different sectors in the economy and ministries of the government.\u003C/p>\u003Cp> \u003C/p>","position":"budgetGlossary","creationDate":1675234610,"modificationDate":1675234610,"isActive":true,"isShow":true},{"faqId":527,"question":"DIRECT TAXES","answer":"\u003Cp>Taxes paid directly by the person or organization on whom they are lived. Income Tax and Corporate Tax fall under this tax category.\u003C/p>","position":"budgetGlossary","creationDate":1675234285,"modificationDate":1675234285,"isActive":true,"isShow":true},{"faqId":526,"question":"DISINVESTMENT","answer":"\u003Cp>It is the dilution of government’s stake in Public Sector Undertakings.\u003C/p>","position":"budgetGlossary","creationDate":1675234254,"modificationDate":1675234254,"isActive":true,"isShow":true},{"faqId":525,"question":"DEMAND FOR GRANTS","answer":"\u003Cp>It is a statement of estimate of expenditure from the Consolidated Fund. This requires approval of the Lok Sabha.\u003C/p>","position":"budgetGlossary","creationDate":1675234140,"modificationDate":1675234140,"isActive":true,"isShow":true},{"faqId":524,"question":"EXCISE DUTIES","answer":"\u003Cp>These duties refer to duties imposed on goods manufactured within the country.\u003C/p>","position":"budgetGlossary","creationDate":1675234117,"modificationDate":1675234117,"isActive":true,"isShow":true},{"faqId":523,"question":"FINANCE BILL","answer":"\u003Cp>It is the government’s proposals for imposition of new taxes, modification of the existing tax structure or continuance of the existing tax structure beyond the period approved by Parliament.\u003C/p>","position":"budgetGlossary","creationDate":1675234096,"modificationDate":1675234096,"isActive":true,"isShow":true},{"faqId":522,"question":"FISCAL DEFICIT","answer":"\u003Cp>It is the difference between the Revenue Receipts and Total Expenditure.\u003C/p>","position":"budgetGlossary","creationDate":1675234073,"modificationDate":1675234073,"isActive":true,"isShow":true},{"faqId":521,"question":"FISCAL POLICY","answer":"\u003Cp>Fiscal policy is a change in government expenditure and/or taxation designed to influence economic activity. These changes are designed to control the level of aggregate demand in the economy. Governments usually bring about changes in taxation, volume of spending, and size of the budget deficit or surplus to affect public expenditure.\u003C/p>","position":"budgetGlossary","creationDate":1675234034,"modificationDate":1675234034,"isActive":true,"isShow":true},{"faqId":520,"question":"FRINGE BENEFIT TAX (FBT)","answer":"\u003Cp>It is the tax lived on the ‘fringe benefit’ / perks given by a company to its employees. Companies could no longer get away with marking such expenses as ‘ordinary business expenses’ and escape tax when they actually gave out club memberships to their employees. Employers had to now pay a tax (FBT) on a percentage of the expense incurred on such perquisites. This tax was introduced in the 2005-06 budget.\u003C/p>","position":"budgetGlossary","creationDate":1675234012,"modificationDate":1675234012,"isActive":true,"isShow":true},{"faqId":519,"question":"FRBM ACT","answer":"\u003Cp>Enacted in 2003, the Fiscal Responsibility and Budget Management Act required the elimination of revenue deficit by 2008-09 . This means that from 2008-09 , the government was to meet all its revenue expenditure from its revenue receipts. Any borrowing was to be done to meet capital expenditure i.e. repayment of loans, lending and fresh investment. The Act also mandates a 3% limit on the fiscal deficit after 2008-09; one that allows the government to build capacities in the economy without compromising on fiscal stability.\u003C/p>","position":"budgetGlossary","creationDate":1675233985,"modificationDate":1675233985,"isActive":true,"isShow":true},{"faqId":518,"question":"GROSS DOMESTIC PRODUCT","answer":"\u003Cp>Total market value of the goods and services manufactured within the country in a financial year.\u003C/p>","position":"budgetGlossary","creationDate":1675233954,"modificationDate":1675233954,"isActive":true,"isShow":true},{"faqId":517,"question":"GROSS NATIONAL PRODUCT","answer":"\u003Cp>Total market value of the finished goods and services manufactured within the country in a given financial year, plus income earned by the local residents from investments made abroad, minus the income earned by foreigners in the domestic market.\u003C/p>","position":"budgetGlossary","creationDate":1675233917,"modificationDate":1675233917,"isActive":true,"isShow":true},{"faqId":516,"question":"GST","answer":"\u003Cp>A GST (Goods and Services Tax) contains the entire element of tax borne by a good / service including a Central and a state-level tax.\u003C/p>","position":"budgetGlossary","creationDate":1675233882,"modificationDate":1675233882,"isActive":true,"isShow":true},{"faqId":515,"question":"INCOME TAX","answer":"\u003Cp>This is the tax levied on individual income from various sources like salaries, investments, interest, etc.\u003C/p>","position":"budgetGlossary","creationDate":1675233848,"modificationDate":1675233848,"isActive":true,"isShow":true},{"faqId":514,"question":"INDIRECT TAXES","answer":"\u003Cp>Taxes imposed on goods manufactured, imported or exported such as Excise Duties and Custom Duties.\u003C/p>","position":"budgetGlossary","creationDate":1675233328,"modificationDate":1675233328,"isActive":true,"isShow":true},{"faqId":513,"question":"INFLATION","answer":"\u003Cp>A progressive increase in prices of goods and services. It is the percentage rate of change in the price level. In inflation, everything tends to appear more valuable except money.\u003C/p>","position":"budgetGlossary","creationDate":1675232315,"modificationDate":1675232315,"isActive":true,"isShow":true},{"faqId":512,"question":"MINIMUM ALTERNATE TAX (MAT)","answer":"\u003Cp>It’s known that a company pays tax on profits as per the Income-Tax Act. If a company's tax liability is less than 10% of its profits, it has to pay a minimum alternate tax of 10% of the book profits.\u003C/p>","position":"budgetGlossary","creationDate":1675232278,"modificationDate":1675232278,"isActive":true,"isShow":true},{"faqId":511,"question":"MODVAT","answer":"\u003Cp>It stands for Modified Value Added Tax and is a way of giving some relief to the final manufacturers of goods on Excise Duties borne by their suppliers.\u003C/p>","position":"budgetGlossary","creationDate":1675232251,"modificationDate":1675232251,"isActive":true,"isShow":true},{"faqId":510,"question":"MONETIZED DEFICITMONETIZED DEFICIT","answer":"\u003Cp>Measures the level of support the RBI provides to the Centre’s borrowing program.\u003C/p>","position":"budgetGlossary","creationDate":1675232226,"modificationDate":1675232226,"isActive":true,"isShow":true},{"faqId":509,"question":"NATIONAL DEBT","answer":"\u003Cp>Total outstanding borrowings of the central government exchequer.\u003C/p>","position":"budgetGlossary","creationDate":1675232187,"modificationDate":1675232187,"isActive":true,"isShow":true},{"faqId":508,"question":"NON-PLAN EXPENDITURE","answer":"\u003Cp>Expenses that don’t form a part of the government’s five year plan. These expenses consist of Revenue and Capital Expenditure on interest payments, Defense Expenditure, subsidies, postal deficit, police, pensions, economic services, loans to public sector enterprises and loans as well as grants to State governments, Union territories and foreign governments.\u003C/p>","position":"budgetGlossary","creationDate":1675231154,"modificationDate":1675231154,"isActive":true,"isShow":true},{"faqId":507,"question":"NON-TAX REVENUE","answer":"\u003Cp>Any loan given to state governments, public institutions, PSUs come with a price (interests) and forms the most important receipts under this head apart from dividends and profits received from PSUs. The government also earns from the various services including public services it provides.\u003C/p>","position":"budgetGlossary","creationDate":1675231126,"modificationDate":1675231126,"isActive":true,"isShow":true},{"faqId":506,"question":"PEAK RATE\n\nPEAK RATE","answer":"\u003Cp>It is the highest rate of Custom Duty applicable on an item.\u003C/p>","position":"budgetGlossary","creationDate":1675231082,"modificationDate":1675231082,"isActive":true,"isShow":true},{"faqId":505,"question":"PERFORMANCE BUDGET","answer":"\u003Cp>It is a compilation of programs and activities of different ministries and departments.\u003C/p>","position":"budgetGlossary","creationDate":1675230835,"modificationDate":1675230835,"isActive":true,"isShow":true},{"faqId":504,"question":"PER CAPITA INCOME","answer":"\u003Cp>The national income of a country, or region, divided by its population.\u003C/p>","position":"budgetGlossary","creationDate":1675230811,"modificationDate":1675230811,"isActive":true,"isShow":true},{"faqId":503,"question":"PROGRESSIVE TAX STRUCTURE","answer":"\u003Cp>A tax structure in which the marginal tax rate increases as the level of income increases.\u003C/p>","position":"budgetGlossary","creationDate":1675230781,"modificationDate":1675230781,"isActive":true,"isShow":true},{"faqId":502,"question":"PUBLIC ACCOUNT","answer":"\u003Cp>It is an account where money received through transactions not relating to consolidated fund is kept.\u003C/p>","position":"budgetGlossary","creationDate":1675230755,"modificationDate":1675230755,"isActive":true,"isShow":true},{"faqId":501,"question":"PUBLIC DEBT","answer":"\u003Cp>The difference between borrowings and repayments during the year is the net accretion to the public debt. Public debt can be split into two heads, internal debt (money borrowed within the country) and external debt (funds borrowed from non-Indian sources).\u003C/p>","position":"budgetGlossary","creationDate":1675230699,"modificationDate":1675230699,"isActive":true,"isShow":true},{"faqId":500,"question":"PLAN EXPENDITURE","answer":"\u003Cp>Consists of both Revenue Expenditure and Capital Expenditure of the Center on the Central Plan, Central Assistance to States and Union Territories.\u003C/p>","position":"budgetGlossary","creationDate":1675230668,"modificationDate":1675230668,"isActive":true,"isShow":true},{"faqId":499,"question":"PLAN OUTLAY","answer":"\u003Cp>Plan Outlay is the amount for expenditure on projects, schemes and programmes announced in the Plan. The money for the Plan Outlay is raised through budgetary support and internal and extra-budgetary resources. The budgetary support is also shown as plan expenditure in government accounts.\u003C/p>","position":"budgetGlossary","creationDate":1675230639,"modificationDate":1675230639,"isActive":true,"isShow":true},{"faqId":498,"question":"PRIMARY DEFICIT","answer":"\u003Cp>Fiscal Deficit minus Interest payments.\u003C/p>","position":"budgetGlossary","creationDate":1675230601,"modificationDate":1675230601,"isActive":true,"isShow":true},{"faqId":497,"question":"PROPORTIONAL TAX","answer":"\u003Cp>A tax taking the same percentage of income regardless of the level of income.\u003C/p>","position":"budgetGlossary","creationDate":1675230577,"modificationDate":1675230577,"isActive":true,"isShow":true},{"faqId":496,"question":"REGRESSIVE TAX","answer":"\u003Cp>A tax in which the poor pay a larger percentage of income than the rich. It is the opposite of Progressive Tax.\u003C/p>","position":"budgetGlossary","creationDate":1675229095,"modificationDate":1675229095,"isActive":true,"isShow":true},{"faqId":495,"question":"REVENUE DEFICIT","answer":"\u003Cp>It is the difference between Revenue Expenditure and Revenue Receipts.\u003C/p>","position":"budgetGlossary","creationDate":1675228988,"modificationDate":1675228988,"isActive":true,"isShow":true},{"faqId":494,"question":"REVENUE SURPLUS","answer":"\u003Cp>Opposite of Revenue Deficit, it is the excess of Revenue Receipts over Revenue Expenditure.\u003C/p>","position":"budgetGlossary","creationDate":1675228946,"modificationDate":1675228946,"isActive":true,"isShow":true},{"faqId":493,"question":"REVISED ESTIMATES","answer":"\u003Cp>Usually given in the following budget, it is the difference between the Budget Estimates and the actual figures.\u003C/p>\u003Cp> \u003C/p>","position":"budgetGlossary","creationDate":1675228908,"modificationDate":1675228908,"isActive":true,"isShow":true},{"faqId":492,"question":"REVENUE BUDGET","answer":"\u003Cp>Consists of Revenue Receipts and Revenue Expenditure of the government.\u003C/p>","position":"budgetGlossary","creationDate":1675228884,"modificationDate":1675228884,"isActive":true,"isShow":true},{"faqId":491,"question":"REVENUE RECEIPT","answer":"\u003Cp>Consists of duties imposed by the Centre, interest and dividend on investments made by the government.\u003C/p>","position":"budgetGlossary","creationDate":1675228858,"modificationDate":1675228858,"isActive":true,"isShow":true},{"faqId":490,"question":"REVENUE EXPENDITURE","answer":"\u003Cp>Expenditure incurred for the normal functioning of the government departments and various other services such as interest charges on debt incurred by the government.\u003C/p>","position":"budgetGlossary","creationDate":1675174111,"modificationDate":1675174111,"isActive":true,"isShow":true},{"faqId":489,"question":"SUBSIDIES","answer":"\u003Cp>Financial aid provided by the Center to individuals or a group of individuals to be competitive. The grant of subsidies is also aimed at improving their skills of those who benefit from the subsidies.\u003C/p>","position":"budgetGlossary","creationDate":1675174077,"modificationDate":1675174077,"isActive":true,"isShow":true},{"faqId":488,"question":"SUBVENTION","answer":"\u003Cp>This is how a government bears the loss that financial institutions incur when asked to give farmer loans below the market rates.\u003C/p>","position":"budgetGlossary","creationDate":1675174048,"modificationDate":1675174048,"isActive":true,"isShow":true},{"faqId":487,"question":"SURCHARGE","answer":"\u003Cp>This is an extra bit of 10% on the tax liability that individuals pay for earning more than Rs 10 lakh. Companies with a revenue of up to Rs 1 crore are spared.\u003C/p>","position":"budgetGlossary","creationDate":1675171632,"modificationDate":1675171632,"isActive":true,"isShow":true},{"faqId":486,"question":"SECURITIES TRANSACTION TAX (STT)","answer":"\u003Cp>STT is a small tax you need to pay on the total amount you pay or receive in a share deal. In the 2004-05 Budget, the government did away with the tax on profits earned on the sale of shares held for over a year (known as long-term capital gains tax) and replaced it with STT.\u003C/p>","position":"budgetGlossary","creationDate":1675171433,"modificationDate":1675171433,"isActive":true,"isShow":true},{"faqId":485,"question":"TREASURY BILL (T-BILLS )","answer":"\u003Cp>These are bonds (debt securities) with maturity of less than a year. These are issued to meet short-term mismatches in receipts and expenditure.\u003C/p>","position":"budgetGlossary","creationDate":1675171401,"modificationDate":1675171401,"isActive":true,"isShow":true},{"faqId":484,"question":"VAT","answer":"\u003Cp>This tax is based on the difference between the value of output and the value of inputs used to produce it. The aim here is to tax a firm only for the value it adds to the manufacturing inputs, and not the entire input cost. Thus, VAT helps avoid a cascading of taxes as a product passes through different stages of production/value addition.\u003C/p>","position":"budgetGlossary","creationDate":1675171373,"modificationDate":1675171373,"isActive":true,"isShow":true},{"faqId":483,"question":"VOTE ON ACCOUNT","answer":"\u003Cp>It is a sort of interim budget where the government presents accounts required to keep the process on until the next government takes over.\u003C/p>","position":"budgetGlossary","creationDate":1675171335,"modificationDate":1675171335,"isActive":true,"isShow":true},{"faqId":482,"question":"WAYS AND MEANS ADVANCE (WMA)","answer":"\u003Cp>RBI is the banker for both Central and State governments. 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