Which budget is used by the government?

Currently one can say that the budget presented by the Government is deficit budget. Rs 34,83,236 crore is the proposed expenditure of the Union Government for 2021-22. You can read about the Union Budget 2021-22 Summary in the given link.

The expected revenue receipts for 2021-22 is Rs 19,76,424 crore (other than borrowings). The fiscal deficit target for 2021-22 is 6.8% of the GDP and revenue deficit target is 5.1% of the GDP in 2021-22.

Further readings:

  1. Taxation in India – Direct taxes & Indirect Taxes, Features of Taxation System
  2. Revenue Receipts- Tax Revenue and Non-Tax Revenue

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