Tomorrow, we dive into Economy by Mrunal with Pillar 2: Budget, Taxation, Subsidies, Disinvestment, Deficit, Public Finance (📖 pp. 343–376).
🎯 Targets to Complete
- Fiscal Policy 📜 – Understand government spending and taxation to steer the economy.
- Budget 💸 – Explore the Union Budget, its components, and role in public finance.
- Six Stages of Passing Budget 📋 – Learn the process: presentation, discussion, scrutiny, voting, appropriation, and finance bills.
- Economic Survey 📈 – Study the pre-budget report analyzing India’s economic performance.
- Finance Ministry & Its Departments 🏛 – Examine roles of departments like DEA and Expenditure.
- Indian Audit and Accounts Department 🕵️ – Understand CAG’s role in auditing public finances.
- Tax Receipts 💰 – Explore sources of government revenue through taxes.
- Direct Taxes 📑 – Learn about taxes on income and wealth, like income tax and corporate tax.
- Union Tax, Cess, Surcharges 🧾 – Understand additional levies for specific purposes.
- Corporation Tax 🏢 – Dive into taxes on company profits, including MAT and DDT.
- MAT, DDT, CGT 📉 – Explore Minimum Alternate Tax, Dividend Distribution Tax, and Capital Gains Tax.
- Income Tax on Individuals 👤 – Understand tax slabs and exemptions for individuals.
- TDS & TCS 🔄 – Learn about Tax Deducted at Source and Tax Collected at Source mechanisms.