As per Union Budget 2021-22, Fiscal deficit is estimated at ______ per cent of GDP in 2021- 22.

Question

Question

This question was previously asked in

SSC CGL 2021 Tier-I (Held On : 13 April 2022 Shift 1)

Answer 1

The correct answer is 6.8.

As per Union Budget 2021-22, the Fiscal deficit is estimated at 6.8 percent of GDP in 2021- 22.
The fiscal deficit is targeted at 6.8% of GDP in 2021-22, down from the revised estimate of 9.5% in 2020-21 (4.6% in 2019-20).
The government aims to steadily reduce the fiscal deficit to 4.5% of GDP by 2025-26.
The difference between total revenue and total expenditure of the government is termed a fiscal deficit. It is an indication of the total borrowings needed by the government. While calculating the total revenue, borrowings are not included.

Additional Information

The Fiscal Deficit in 2022-23 is estimated at 6.4 percent of GDP.
The Fiscal Deficit of the Government for 2022-23 is estimated to be Rs. 16, 61,196 crores.
The Revised Estimates for 2021-22 indicate a Fiscal Deficit of Rs. 15, 91,089 crores as against the Budget Estimates of Rs. 15, 06,812 crores.

Important Points

Key Highlights of Union Budget 2024-25
- Offers one-month wage (up to ₹15,000) to new formal sector entrants.
- Reimburses employers' EPFO contributions (up to ₹3,000/month) for two years.
- Allocates ₹10 lakh crore for affordable housing under 'Housing for All'.
- Includes a rental housing scheme for the working class.
- More than ₹11 lakh crore earmarked for long-term infrastructure projects.
- Initiatives for renewable energy, including rooftop solar schemes.
- Adjustments to tax slabs and long-term capital gains (LTCG).
  - LTCG tax on immovable properties reduced from 20% to 12.5%.
  - TDS on e-commerce transactions decreased from 1% to 0.1%.
- Changes to customs duty on gold, silver, platinum, telecom equipment, and more.
- Targets fiscal deficit at 4.9% for the year.