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Sonia hints at more concessions for farmers

Farmers who have not benefited from Budget loan waiver will be considered.

• Chidu pleased with himself over farmers loan waiver

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• Sonia hints at more concessions for farmers
• Chidu pleased with himself over farmers loan waiver

Keywords: Budget Jargon, Specials

Central Plan: Refers to the government's budgetary support to the Plan and the internal and extra budgetary resources raised by the PSUs.

Consumer price index: A price index covering the prices of consumer goods.

Corporate Tax: Tax levied on companies on the profit made by them.

Currency Liability: Comprises one, two and five-rupee coins and other small coinage, and commemorative coins issued by the government mints.

Current Account Transactions: A country's balance of payments on Current Account Transactions includes trade in goods or visibles; trade in services, or invisibles; payments of factor incomes, including dividends, interests, migrants remittances from earnings abroad; and international transfers, that is gifts.

Current Account Deficit: This is an excess of expenditure over receipts on current account in a country's balance of payments.

Current Account Surplus: This is an excess of receipts over expenditure on current account in a country's balance of payments.

Direct Taxes: Taxes which are imposed directly on consumers like Income Tax and Corporate Tax.

Disinvestment: The process of dilution of the government's stake in Public Sector Undertakings.

Demand for grants: A statement of estimate of expenditure from the Consolidated Fund and requires the approval of the Lok Sabha.

Demand deposits: Bank account that allows money to be withdrawn from the available balance by the account holder at his or her will and by any means, without notice to the bank.

Deposit money: Consists of demand deposits with commercial and cooperative banks and also includes current deposit portions of savings bank deposits. These deposits do not earn any interest.

Excise Duty: A tax levied on the consumption of particular goods and may be levied to raise government revenue. Excise duties are often levied at higher rates on goods like alcohol, tobacco and petrol whose consumption is believed to have adverse effects on public health, order and environment.

Foreign Direct Investment: The acquisition by residents of a country of real assets abroad and may be done by remitting money abroad to be spent on acquiring land, constructing buildings, mines, or machinery, or buying existing foreign business.

Finance Bill: This consists of the Government's proposals for the imposition of new taxes, modification of the existing tax structure or continuance of the existing tax structure beyond the period approved by Parliament.

Fiscal Deficit: It is the difference between the Revenue Receipts and Total Expenditure.

Gross Domestic Product (GDP): This is the value of a country’s overall output of goods and services during one fiscal year) at market prices, excluding net income from abroad. It thus includes activities carried out in the country by foreign-owned companies, and excludes activities of firms owned by residents but carried on abroad.

Gross National Product (GNP): This is the total market value of the finished goods and services manufactured within the country in a given financial year, plus income earned by the local residents from investments made abroad, minus the income earned by foreigners in the domestic market.

Gross Investment: Spending on creating new capital goods before making any allowance for capital consumption and consists of gross fixed investment, plus net investment in stocks and work in progress.