Union Budget 2023
Nirmala Sitharaman will present her fifth Union Budget for the fiscal year 2023–24 on February 1st.
It is the amount of money that is collected in the form of tax that is levied on your income, goods, and profits among other things.
Direct tax, as the name suggests, is the tax that is paid by an individual directly to the government. This constitutes both income tax and corporate tax.
Indirect tax, on the other hand, is the tax paid by the people to a person/organisation/entity that holds the burden of paying tax to the govt.
Aditya Birla Capital
When the government’s total revenue exceeds its total expenditure, that difference is called the fiscal deficit.
Corporate Finance Institute
It is the difference in the amount spent by the government on everyday operations and its total income from taxes and other sources.
The Financial Express
Gross Domestic Product (GDP)
It is the measurement of the monetary value of all goods and services bought by the final user and that are produced within the country in a given amount of time.
Govt using taxation, public borrowing, and public spending to influence its economy so that sustainable growth is achieved.
Inflation is simply the rise in prices in an economy.
This refers to the action taken by the central bank Reserve bank of India (RBI) to control the supply of money in the economy.
The Economic Times