[Win20CSP] Mrunal’s Free Economy Update Pack Pillar#2: Budget, Taxation, 15th Finance Commission, Disinvestment & Fiscal Deficit for Previous Batch Students

1. Prologue
2. Free Lecture & Handout on Pillar#2: Budget
3. List of Topics Updated in Pillar2 after Prelims-2019
   1. Budget : introduction
   2. Taxation  → Direct Taxes updates after Prelims-2019
   3. Taxation  → Indirect Taxes updates after Prelims-2019
   4. 15th Finance Commission
   5. Tax Evasion → Budget-2019 & 2020
   6. Revenue Expenditure related updates
   7. Budget  →  Capital Receipts  → Borrowing

Prologue

• If you’re my old batch student from 2019, you’d have my full length economy handout from Plus courses.
• This win20CSP series contains FREE updates that occurred after Prelim-2019.? Download PDF link.
• So far, following free lectures conducted:
• Lecture#1: Pillar1A upto RBI’s monetary policy
• Lecture#2: Pillar1B-Burning Issues in Banking to 1C: SEBI/Sharemarket
• Lecture#3: Pillar1D Insurance to 2A: Intro to Budget & Economic Survey 2020

Free Lecture & Handout on Pillar#2: Budget

1. (Assumption) You’ve attended my full-length economy course anywhere in 2019.
2. ?Download this PDF file containing Update Pack for Pillar#2: budget.
3. No need to take printout immediately, considering the Corona Lockdown. For the same reason, I’ve not kept any blanks in it.
4. ?Attend the FREE LIVE lecture HERE on 21^st April, Tuesday, 9PM. It’s called ‘Unacademy special classes’, which means it’s basically free to attend for everyone.

List of Topics Updated in Pillar2 after Prelims-2019

As you’re aware, I cover the economy in six pillars.  This first Win20CSP Handout contains following updates for Pillar2

Budget : introduction

• Budget 2020’s theme
• ?? Economic Survey (आर्थिक सर्वेक्षण) themes and covers

Taxation  → Direct Taxes updates after Prelims-2019

• ??‍♀‍: ? Corporation Tax Cut in 2019-Sep
• ??‍♀‍: ?? Corporation Tax on Startups
• ??‍♀‍: ? Dividend Distribution Tax (DDT: लाभांश वितरण कर)
• ??‍♀‍: ?? Buyback Tax (शेयर की वापसी-खरीद पर कर)
• ??‍♀‍ : ???Capital Gains Tax (CGT: पूंजीगत लाभ कर)
• ??‍♀‍: ? Income Tax on Individuals (व्यक्तिक आयकर)
• (Optional) New slabs for Income Tax in Budget-2020
• ????Direct Tax Code (DTC) Task Force (2017-2019)
• ??‍?✂️TDS and TCS related announcements
• ???Taxation Ordinance 2020 (कराधान अध्यादेश)

Taxation  → Indirect Taxes updates after Prelims-2019

• ??: ??‍?? GST Council: Composition? जीएसटी परिषद
• ?? GST on J&K
• ??:⚖️?️‍♂‍Goods and Services Tax Appellate Tribunal (GSTAT)
• ? GST Revenue Collection Figures: जीएसटी राजस्व प्राप्ति के  आंकड़े
• ?? E-Invoice System
• ? → ?(?‍??‍♀‍) Compensation to States → Controversy

15th Finance Commission

• ? [?‍?⚖️??‍♀‍⚖‍??]15th FC: tax devolution: States’ share
• ?Finance Commissions & the fate of UTs of J&K & Ladakh
• ? → ??? (?‍???‍♀‍) Grants from Union to States (संघ से राज्यों को अनुदान)
• ????15th FC: Local Bodies Grants (स्थानीय निकाय अनुदान, 90k cr)
• ?????‍♂‍Post-Devolution Revenue Deficit Grants (74kcr)
• ?????15th FC: Disaster Management Grants (आपदा प्रबंधन अनुदान: 41kcr)
• ????15th FC: Sector Specific Grants (क्षेत्र-विशिष्ट अनुदान, ~7700cr)
• ?????15th FC: Special Grants: (विशेष अनुदान , ~6700kcr)
• ????? 15th FC: Performance-based incentives (निष्पादन-आधारित प्रोत्साहन)
• 15th FC: Other recommendations to Govt
• 15th FC Report for 2020-21: conclusion

Tax Evasion → Budget-2019 & 2020

• ???? Sabka Vishwas L.D.S Scheme 2019
• ??? Vivad se Vishwas Scheme Budget-2020
• ??? Tax Avoidance through Non-Resident Status
• ? (Full) Budget-2019: Ease of paying taxes & reducing tax-terrorism
• ???:? Document Identification Number (DIN: दस्तावेज़ पहचान संख्याक)
• ?? Taxpayers’ Charter in ? Budget-2020 (करदाताओ का अधिकारपत्र)
• ?? ES19: “Use Behavioural Economics to improve Tax Compliance”

Revenue Expenditure related updates

• ?⏰(?⛽️) Budget  → Revenue Expenditure  → Subsidies
• Subsidies in budget 2020
• ?? ES19: Use ‘Behavioural economics (व्यवहार अर्थशास्त्र)’ to ↓ subsidy bill
• ??‍♀‍✍??️‍♂‍National Recruitment Agency (NRA: राष्ट्रीय भर्ती एजेंसी)

Budget  →  Capital Receipts  → Borrowing

• ???Full Budget-2019: Foreign Borrowing in Foreign Currency
• ?? ♐️ ? Budget →  Capital Receipts → Disinvestment: विनिवेश
• ??ES20 Vol1 Ch9 Privatization and Wealth Creation
• ??? Budget  → Fiscal Deficit (राजकोषीय घाटा)
• ?????? Extra-Budgetary Resources (बजटेतर संसाधन)
• ?? ? Modi’s Fiscal Stimulus (2019-)
• ? FRBM: Trigger Mechanism (to) Escape (Deficit control) Clause
• ???? ? FRBM Act: 3 Documents  (दस्तावेज़)
• ???⏬ Fiscal Consolidation (राजकोषीय एकत्रीकरण)

Stay Tuned for the Remaining [Win20CSP] Pillar#2/3/4/5/6’s update packs at Mrunal.Org/Download