Components of India Budget –
- Plan and Non-plan Expenditure
- Revenue and fiscal deficit
- Developments in agriculture
- Transport
- Railways
- Subsidies
- Banking system, Insurance, Agricultural Insurance, National Bank for Agriculture and Rural Development, Regional Rural Banks, Housing loans, Exclusive health insurance, Capital market
- Urban and Rural Infrastructure Development
- Industry
- SMEs
- Gross domestic capital, Foreign direct investment and Portfolio investment
- Central Public Sector Enterprises
- Budgetary resources
- Outstanding credit
- Foreign Trade and Merchandise exports
- Differential rate of interest
- Defense expenditure
- Education
- Water
- Health care
- Environmental matters
- Physically challenged persons
Ahead of the India budget, the Government comes out with the Economic Survey, showing the economic trends in the country. Due to this, the resources can be better mobilized and allocated in a better manner in the budget. The Economic Survey studies and analyses the trends in agricultural and industrial production, infrastructure, employment, money supply, prices, imports, exports, foreign exchange reserves and other economic factors.
One should remember that the India budget by the Central Government is just not a statement of receipts and payments. The India budget is surely a tool to shape and direct the economic life the country.