Authors Kishore C Iyer🇮🇳
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So here goes... I will start from the numbers and then move it slowly into other specific features...
all along ill keep it as simple as possible and will try to avoid all complicated terminologies!
To start off with, the size of our budget is ~34.83 lakh crores for FY22, which means the Govt is expected to make ~34.83lakh crores as receipts and is expected to expend that much or more for running day to day operations, subsidies, creating assets & launching schemes.
- Of the 34.83, ~44% is expected to come from taxes & ~43% is expected to be met by borrowings.
- Just so you understand, in FY20 ~51% was met through taxes and ~35% was met through borrowings.
- For FY21 RE, ~39% to be met by taxes & ~54% through borrowings
- If you observe, for FY21 BE, ~54% of the receipts was to be met by taxes and COVID ruined it and this number fell to ~39% in the RE
- The borrowings which was supposed to be only ~26% in FY21BE went up to ~54%. The COVID has had a very bad impact on Govt finances!
all along ill keep it as simple as possible and will try to avoid all complicated terminologies!
Budget thread coming up in the evening
— Kishore C Iyer\U0001f1ee\U0001f1f3 (@Kishoreciyer1) February 1, 2021
To start off with, the size of our budget is ~34.83 lakh crores for FY22, which means the Govt is expected to make ~34.83lakh crores as receipts and is expected to expend that much or more for running day to day operations, subsidies, creating assets & launching schemes.
- Of the 34.83, ~44% is expected to come from taxes & ~43% is expected to be met by borrowings.
- Just so you understand, in FY20 ~51% was met through taxes and ~35% was met through borrowings.
- For FY21 RE, ~39% to be met by taxes & ~54% through borrowings
- If you observe, for FY21 BE, ~54% of the receipts was to be met by taxes and COVID ruined it and this number fell to ~39% in the RE
- The borrowings which was supposed to be only ~26% in FY21BE went up to ~54%. The COVID has had a very bad impact on Govt finances!