Kritika Handa

Union Budget 2024: Key Terms To Know

Fiscal deficit is the shortfall when the government spends more than it earns. This affects the economy and budget planning.

Fiscal Deficit

GDP growth forecast predicts how the economy will perform. It guides the government's budget decisions and strategies for the year.

GDP Growth Forecast

Direct taxes are paid directly by individuals, like income tax. Indirect taxes, such as GST, are on goods and services, impacting the finances in the budget.

Direct VS Indirect Taxes

Inflation rate measures the rise in prices. It influences budget planning decisions and your purchasing power in the upcoming the budget.

 Inflation Rate

They are financial aid from the government to specific sectors. They play a vital role in budget allocations for different areas in the budget.

Subsidies

Capital expenditure is for long-term assets like infrastructure, while revenue expenditure covers daily expenses.

Capital vs. Revenue Expenditure