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Fiscal deficit pegged at 6.8 per cent of GDP

The Fiscal deficit for the financial year 2021-22 pegged at 6.8 percent. The Total resources being transferred to the states including the devolution of states share, grants, loans and releases under centrally sponsored scheme in budget estimate for the fiscal is 13 lakh 88 thousand 502 crore rupees which shows an increase of 74 thousand 565 crores over revised estimate of 2020-21.

The Finance Minister said, the domestic electronic manufacturing has grown rapidly where India is  now exporting items like mobiles and chargers. For greater domestic value addition, a few exemptions on parts of chargers and sub-parts of mobiles are being withdrawn. Further, some parts of mobiles will move from ‘nil’ rate to a moderate 2.5 per cent.

The Finance Minister narrated  Rabindranath Tagore’s words “Faith is the bird that feels the light and sings when the dawn is still dark,”. 

 

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