Uttarakhand budget 2020-21

GDP of Uttrakhand in 2020-21

The Growth rate of Uttarakhand’s GDP (at constant prices) is estimated to be 6.9% in 2018-19, a decline from the 9.8% growth rate in 2016-17, and 7.8% growth rate in 2017-18.

Different sectors of economy of Uttrakhand in 2020-21

agriculture, Industry, and Services are estimated to contribute 10%, 52%, and 38%, respectively to the state’s economy in 2019-20. Both agriculture and industry sectors have seen a decline in their growth over the last few years.

Expenditure for 2020-21 in Uttrakhand

Total expenditure for 2020-21 is estimated to be Rs 53,527 crore, a 18.7% increase over the revised estimate of 2019-20. In 2019-20, total expenditure is estimated to decrease by 7.4% (Rs 3,582 crore) from the budget estimate for the year (Rs 48,664 crore).

Key Budget provisions for Agriculture sector in 2020-21

Krishi Utpadan Lagat Sarvekshan Yojana will be started for providing minimum support price for crops such as mandua, sanwa, urad, ghat and masoor.
A provision of Rs 2,300 crore has been made for payment of wheat and paddy procured from farmers in 2020-21.
Rs 240 crore has been allocated towards assistance to sugar mills for clearing dues of sugarcane farmers.

Key Budget provisions for Education and EMPLOYMENT

Government will ensure construction of buildings in all government colleges in the state by 2022.
Salary for guest teachers in universities will be increased from Rs 25,000 to Rs 35,000.
Mukhyamantri Shikshuta Yojana will be started for Learning new work-related skills in different sectors. Mukhyamantri Swarojgar Yojana and Mukhyamantri Palayan Roktham Yojana will be started for generating self-employment opportunities and preventing Migration from the state.

Key Budget provisions for Health and social welfare

Approximately Rs 300 crore has been allocated for establishment of a medical college in Haldwani, Almora and Dehradun.
Mukhyamantri Saubhagyaati Yojana will be started for preventing decline in sex-ratio by providing kits to mothers on birth of a girl child in first delivery.
Pension for old-age, dependent widows and disabled to be increased from Rs 1,000 per month to Rs 1,200 per month.

Fiscal estimates of Uttrakhand in 2020-21

Revenue Deficit

The budget estimates a revenue surplus of Rs 50 crore (or 0.02% of GSDP) in 2020-21. This implies that Revenue Receipts are expected to be slightly higher than Revenue Expenditure, resulting in a revenue surplus. In 2019-20, the state had estimated a revenue surplus of Rs 21 crore, as per the revised estimates.

Fiscal Deficit

In 2020-21, fiscal deficit of Uttrakhand is estimated to be Rs 7,550 crore, which is 2.6% of the GSDP. In 2019-20, as per the revised figures, the fiscal deficit is estimated at Rs 6,673 crore or 2.5% of GSDP. These estimates are within than the 3% limit as per the FRBM Act.

The Uttarakhand budget 2020-21 was presented on 24 February 2020 by the Finance Minister, Prakash Pant. The budget was presented in the context of the COVID-19 pandemic, which had a significant impact on the state’s economy. The budget focused on providing relief to the affected sectors and promoting growth.

The budget allocated a total of â¹65,862 crore for the financial year 2020-21. This was an increase of 12.5% over the previous year’s budget. The major allocations were as follows:

Agriculture and allied sectors: â¹10,000 crore
Rural development: â¹12,000 crore
Irrigation and water Resources: â¹7,000 crore
Energy: â¹6,000 crore
Industry and Minerals: â¹5,000 crore
Transport: â¹4,000 crore
Tourism: â¹3,000 crore
Housing and urban development: â¹2,000 crore
Health and family welfare: â¹10,000 crore
Education: â¹12,000 crore
Social welfare: â¹5,000 crore
Women and child development: â¹3,000 crore
SC/ST welfare: â¹2,000 crore
Minorities welfare: â¹1,000 crore
Backward classes welfare: â¹1,000 crore
Labour and employment: â¹1,000 crore
Parliamentary affairs: â¹500 crore
General administration: â¹1,000 crore
Law and Justice: â¹500 crore
Public works: â¹3,000 crore
Food and civil supplies: â¹2,000 crore
Excise and Taxation: â¹3,000 crore
Forests and Environment: â¹1,000 crore
Science and technology: â¹500 crore
Information technology: â¹500 crore
Electronics and Communication: â¹500 crore
Planning: â¹500 crore
Finance: â¹1,000 crore
Personnel: â¹1,000 crore
Vigilance: â¹500 crore

The budget also proposed a number of new schemes and initiatives. These included:

A scheme to provide financial assistance to farmers for the purchase of agricultural equipment.
A scheme to provide financial assistance to women entrepreneurs.
A scheme to provide free education to girls up to the secondary level.
A scheme to provide free medical treatment to the poor.
A scheme to provide housing to the homeless.
A scheme to provide employment to the youth.

The budget was well-received by the people of Uttarakhand. They appreciated the government’s efforts to provide relief to the affected sectors and promote growth. They also welcomed the new schemes and initiatives proposed in the budget.

However, some critics pointed out that the budget did not do enough to address the state’s long-term problems, such as Unemployment and POVERTY. They also argued that the budget was not realistic in its expectations of revenue generation.

Overall, the Uttarakhand budget 2020-21 was a positive step in the right direction. It provided relief to the affected sectors and promoted growth. However, it did not do enough to address the state’s long-term problems.

What is the budget?

The budget is a financial plan for a government or organization. It outlines how much Money will be spent on different things, such as salaries, programs, and Infrastructure-2/”>INFRASTRUCTURE.

What is the purpose of the budget?

The purpose of the budget is to ensure that the government or organization has enough money to cover its expenses. It also helps to make sure that the money is spent in a way that is efficient and effective.

How is the budget prepared?

The budget is prepared by the government or organization’s finance department. They collect information on all of the organization’s income and expenses. They then use this information to create a plan for how the money will be spent in the coming year.

What are the different types of budgets?

There are many different types of budgets. Some common types include:

Operating budgets: These budgets cover the day-to-day expenses of an organization.
Capital budgets: These budgets cover the costs of major investments, such as new buildings or equipment.
Cash budgets: These budgets track the flow of cash in and out of an organization.
Zero-based budgets: These budgets start from scratch each year, and every expense must be justified.

What are the benefits of having a budget?

There are many benefits to having a budget. Some of the benefits include:

It can help you save money.
It can help you track your spending.
It can help you reach your financial goals.
It can help you avoid debt.
It can help you make better financial decisions.

What are the challenges of having a budget?

There are some challenges to having a budget. Some of the challenges include:

It can be difficult to stick to a budget.
It can be difficult to track all of your spending.
It can be difficult to make changes to your budget if your financial situation changes.
It can be difficult to stay motivated to stick to your budget.

How can I create a budget?

There are many different ways to create a budget. Some common methods include:

The 50/30/20 rule: This rule divides your income into three categories: needs, wants, and Savings.
The zero-based budget: This budget starts from scratch each year, and every expense must be justified.
The envelope budget: This budget uses envelopes to track your spending.
The online budget: This budget uses a Software program to track your spending.

How can I stick to a budget?

There are many ways to stick to a budget. Some common tips include:

Make a budget that is realistic and achievable.
Track your spending so you can see where your money is going.
Cut back on unnecessary expenses.
Find ways to make extra money.
Automate your savings.
Set financial goals and track your progress.

What are some common BUDGETING mistakes?

Some common budgeting mistakes include:

Not having a budget.
Not tracking your spending.
Not making changes to your budget when your financial situation changes.
Not being realistic about your income and expenses.
Not having a plan for saving money.
Not being motivated to stick to your budget.

What are some resources for help with budgeting?

There are many resources available for help with budgeting. Some common resources include:

Financial advisors
Budgeting software
Budgeting apps
Budgeting websites
Budgeting books
Budgeting classes

Sure. Here are some MCQs on the following topics:

The Indian economy is the world’s
(A) Largest
(B) Second largest
(C) Third largest
(D) Fourth largest
The Indian economy is expected to grow at a rate of
(A) 7.5% in 2020-21
(B) 8.0% in 2020-21
(C) 8.5% in 2020-21
(D) 9.0% in 2020-21
The main driver of the Indian economy is
(A) Agriculture
(B) Industry
(C) Services
(D) Manufacturing
The main challenges facing the Indian economy are
(A) Inflation
(B) Unemployment
(C) Poverty
(D) All of the above
The main reforms that have been implemented in the Indian economy in recent years are
(A) Demonetization
(B) GST
(C) Aadhaar
(D) All of the above
The main goals of the Indian government’s economic policy are
(A) To achieve high economic growth
(B) To reduce poverty
(C) To improve infrastructure
(D) All of the above
The main sources of government revenue in India are
(A) Taxes
(B) Non-tax revenue
(C) Borrowing
(D) All of the above
The main expenditure items of the Indian government are
(A) Interest payments
(B) Defence
(C) Social sector spending
(D) All of the above
The main challenges facing the Indian government’s Fiscal Policy are
(A) High fiscal deficit
(B) High Public Debt
(C) Low tax collection
(D) All of the above
The main goals of the Indian government’s Monetary Policy are
(A) To control inflation
(B) To maintain a stable exchange rate
(C) To promote economic growth
(D) All of the above
The main tools of the Indian government’s monetary policy are
(A) Open market operations
(B) Repo rate
(C) CRR
(D) All of the above
The main challenges facing the Indian government’s monetary policy are
(A) High inflation
(B) Weakening rupee
(C) Low economic growth
(D) All of the above
The main objectives of the Indian government’s Financial Sector Reforms are
(A) To promote Financial Inclusion
(B) To strengthen the financial system
(C) To develop the Capital Market
(D) All of the above
The main reforms that have been implemented in the Indian financial sector in recent years are
(A) The introduction of the Basel III norms
(B) The merger of Public Sector Banks
(C) The introduction of the Insolvency and Bankruptcy Code
(D) All of the above
The main challenges facing the Indian financial sector are
(A) High non-performing assets
(B) Low credit growth
(C) Weakening rupee
(D) All of the above
The main objectives of the Indian government’s Industrial Policy are
(A) To promote industrial growth
(B) To improve competitiveness
(C) To create jobs
(D) All of the above
The main reforms that have been implemented in the Indian Industrial Sector in recent years are
(A) The introduction of the Goods and Services Tax (GST)
(B) The introduction of the Make in India initiative
(C) The introduction of the Aadhaar card
(D) All of the above
The main challenges facing the Indian industrial sector are
(A) Low Investment
(B) High power tariffs
(C) Poor infrastructure
(D) All of the above
The main objectives of the Indian government’s agricultural policy are
(A) To increase agricultural production
(B) To improve farmers’ incomes
(C) To reduce rural poverty
(D) All of the above
The main reforms that have been implemented in the Indian agricultural sector in recent years are
(A) The introduction of the Pradhan Mantri Fasal Bima Yojana (PMFBY)
(B) The introduction of the Pradhan Mantri Krishi Sin