New Delhi: Union Finance Minister Nirmala Sitharaman, while presenting the general budget today, has said that the government will raise a loan of about 12 lakh crore rupees in the next financial year 2021-22. Presenting the General Budget 2021-22 in the Lok Sabha on Monday, the Finance Minister said that the government's expenditure in the next financial year is estimated to be Rs 34.83 lakh crore. There is a capital expenditure of Rs 5.54 lakh crore. Sitharaman said that the states would get a 41 percent share in the tax as per the recommendations of the 15th Finance Commission. The government has approved these recommendations.

She said that exemption from tax audit has been doubled for companies doing most of their business digitally. Now companies with businesses up to Rs 10 crore will get a concession from this. Sitharaman said that the advance tax liability on dividend income will remain only after payment of dividend. She said that the government proposed to liberalize the rules to get more foreign investment in the infrastructure sector.

Nirmala Sitharaman has said that the fiscal deficit is expected to be 6.8 percent of the gross domestic product (GDP) in the next financial year starting from April 1. However, the fiscal deficit may rise to a high of 9.5 percent in the current financial year. The fiscal deficit is expected to be much higher than the target in 2020-21, amid increased spending and declining revenues amid the corona epidemic.

Also Read:-

Farmers protest: Suspension of internet services at Delhi borders, date extended till February 2

Union Budget 2021: Introduction of vehicle scrappage scheme will benefit auto sector

Vasant Panchami 2021: 11 names of Goddess Sharda you must read