This macro finance arithmetic has revealed by governments who are struggling to raise fundamental functions while maintaining financial caution. Profit spending is far from increasing public investment or poor expenditures, reducing the profit spending from 12.81 % in FY2013 to 11.01 % in 26 (Be). GOI is also permeating RS 1 LAKH CR Capex, compared to the FY25 budget prediction.
FM has continued to publish accidental schemes, but most of them are unrelated to the budget process and belong to the annual plan of the line ministry. Again, there was an unpleasant story of indexing the performance of the state and performing loans and transfer related to loans. Biard is also given to Bihar, an important coalition that rules the state, which is scheduled for the election, in the latter half of this year.
But for Suit Boot India, this is a dream budget. In FY2015, people had to earn more than three times for each capita before taking 5 % of responsibility. After this budget, those who earn less than 6 x less than 6 x less than 6 x less than this budget will not pay. As the countries prosper, higher income per capita increases the number of taxpayers. The new tax system indicates that even those who have earned 5 to 6 x Capita are not as prosperous enough to pay taxes. This is stagnant, not prosperity.
RS 1 LAKH CR revenue has been overlooked due to these changes in the personal IT system. The total expenditure is 3.4 LAKH CR higher than the FY25 RE. If the tax was reduced, the expenditure would have risen by 4.4 Rark CR. Therefore, in addition to reducing spending as a ratio of GDP, the FY26 TE is 30 % less than the tax reduction (assuming the same goal deficit). Outrays related to education and rural development are stagnant, the former is RS 1.2 LAKH CR, and the latter is about 2.5 CR of RS 2.5 LAKH CR. RS 1 LAKH CR revenue expanding AREGONE (RF) in one or both of these sectors will make a big difference to ordinary people. Instead, GOI has provided tax cuts to the top 10 %, adding a top -up prize to the wealthy, with a yacht and car import tariff exceeding $ 40,000. Target a small level while laughing. In FY2013 (Re), we collected 33,000 CR. This is a lack of 35 % from Bee. GOI needs to abandon all of the investment strategies and explain other items and other receipts. Work can be done by the deputy secretary. There is no need for an investment bureau that demonstrates a poor performance every year.
The Share of TE’s Capex rose sharply from 12.5 % of FY20 to 21.36 % in 2000, but is now stagnant. In fact, the ratio of GDP fell from 3.21 % of FY24 to 3.14 % in FY2016. This reflects the limited abilities for GOI to run a larger public investment program. This is a point that was freely recognized last year by the Financial Secretary TV Somanathan, but was ignored by policy comments. The meaning of the policy that the government is currently doing heavy investment is inevitable.
There is a reason for Finmin to pay attention to the optimistic tax rate predicted in FY2016. About 25 % of IT returns 6 to 10 rupees per year. They are no longer a new administration taxpayer. Therefore, the number of taxpayers will be further reduced unless the number of people who earn more than 12 rupees per year increases rapidly.
Given the budget and the very modest growth rate assumed in the economic survey, this is almost unlikely. In addition, Fininin has underestimated RF in the past. When a company tax cut in 2019, the RF was estimated to be RS 1 LAKH CR. Experts are currently estimated that the actual RF is RS 3 Lakh CR. Even the underestimation of the number of RFs from recent personal IT cuts will bring financial arithmetic.
In terms of positive aspects, there is a welcome presentation that a new bill to simplify IT documents and laws will be introduced next week. This is an postponed reform for a long time. To some extent, the “lawsuit” prizes on taxation and other tax transfer are an attempt to fix inflation increases, as many of these tax rates are nominally fixed, as in government salaries and benefits.
It is honest and accurate commerce to stop this stupid pretend that there is no inflation and to correct the tax and expenditure assignment. Tax slabs, standard deductions, salaries and benefits, and indexing major government schemes in inflation will improve the reliability and transparency of India’s budget.
