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1 February 2021: Submitted by: Nirmala Sitharaman (Minister of Finance) Submitted to: Parliament of India: Presented: 1 February 2021: Passed: 17 March 2021: Parliament: 17th : Party: Bharatiya Janata Party: Finance minister: Nirmala Sitharaman: Total revenue ₹ 31.67 trillion (US$370 billion) (23.4%) Total expenditures ₹ 37.7 trillion (US ...
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The Union Budget of India, also referred to as the Annual Financial Statement in Article 112 of the Constitution of India is the annual budget of the Republic of India set by Ministry of Finance for the following financial year, with the revenues to be gathered by Department of Revenue to identify planned government spending and expected government revenue and the expenditures gathered by ...
India's finance minister, Nirmala Sitharaman, set a fiscal deficit target of 3.5% of GDP for the year ending March 2021 and said it expected nominal GDP of 10%. India's growth, fiscal deficit ...
India's current account shifted to a small deficit of $1.7 billion in the October-December quarter from a surplus of $15.1 billion in July-September, the country's central bank said on Wednesday.
The document is the Ministry's view [clarification needed] on the state of the economy of the country. This document of the Ministry, the Economic Survey of India reviews the developments in the Indian economy over the past financial year, summarizes the performance on major development programs, and highlights the policy initiatives of the government and the prospects of the economy in the ...
Finance Minister Nirmala Sitharaman slashed the personal income tax rate for individuals for fiscal year 2020–21. [30] Under the new regime, taxpayers will pay 10%, 15%, 20% and 25% for incomes between ₹500,000–750,000, ₹750,000–1 million, ₹1–1.25 million and ₹1.25–1.5 million, respectively.
In February, Prime Minister Narendra Modi's government set a fiscal deficit target of 6.4% of gross domestic output (GDP) for the year that started on April 1, compared with a deficit of 6.7% last ...