Kiran's

JPSC

JHARKHAND PUBLIC SERVICE COMMISSION

PRELIMINARY EXAM 2003-2021

SOLVED PAPERS WITH DETAILED EXPLANATIONS

10 SETS

✦

Jharkhand Public Service Commission (Pre.) Exam 2003, 2006, 2010, 15.12. 2013 (Paper I & II), 18.12.2016 (Paper I & II) and 19.09.2021 (Paper I & II)

WITH DETAILED EXPLANATIONS

FOR FRANCHISEE CONTACT :

RU-67, PITAMPURA, DELHI-110034, Ph : 9821874015, 9821643815 JPSE–1

INDISPENSABLE BOOKS FOR ALL COMPETITIVE EXAMS SALIENT FEATURES ◗ ◗ ◗ ◗ ◗ ◗ ◗ ◗ ◗ ◗ ◗ ◗ ◗ ◗ ◗

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A sincere attempt to use reader friendly lucid language to make understanding easy. Teach yourself approach adopted in shaping this book. A pious effort to put simple solutions and much needed time-saving methods. A long list of chapters and a wide variety of questions. Special emphasis on concept-building as reasoning is a special kind of thinking. Detailed discussion on basic concepts of each topic. Fundamental concepts illustrated through upgraded questions. Problem solving techniques through MCQs. Large number of Multiple Choice Questions (more then 7000) with detailed explanations. Exercises with a plenty of questions asked in various competitive exams with proper highlight of name of exam and year. Illustration of more than one method solution to many questions. Distribution of each exercise in differently oriented categories/sections. Price Model Practice Sets for various exams. 635 Select questions asked in previous exams concerned in each set. Enriched concepts on principles of logic to distinguish correct from incorrect reasoning and examine fallacies; Unique tricks for solving questions on Input. SALIENT FEATURES ◗ A sincere attempt to use reader friendly lucid language to make understanding easy. ◗ Teach yourself approach adopted in shaping this book. ◗ A pious effort to put simple solutions and much needed short-cut methods. ◗ A long list of chapters and a wide variety of questions. ◗ Special emphasis on concept-building. ◗ Detailed discussion on basic concepts of each topic. ◗ Fundamental concepts/formulae illustrated through upgraded questions. ◗ Problem solving techniques through MCQs. ◗ Large number of Multiple Choice Questions (more then 7000) with detailed explanations. ◗ Exercises with a plenty of questions asked in various competitive exams with proper highlight of name of exam and year. ◗ Illustration of more than one method solution to many questions. ◗ Distribution of each exercise in differently oriented categories/ sections. Price ◗ Every attempt made to encourage to know quantitative aptitude, avoid rote learning. 635 ◗ Model Practice Sets for various exams. Select questions asked in previous exams concerned in each set. Enriched concepts on Algebra, Sequence and Series (Progression), Permutation and Combination, Quadratic Equations and Inequations, Probability, Geometry, Trigonometry, Mensuration and most importantly Data Sufficiency, Analysis and Interpretation.

You can also order the book by sending demand draft (D.D.) (Printed price of the book) + Rs. 25 in favour of Kiran Prakashan, payable at Delhi. Shop online at www.kiranprakashan.com

CURRENT AFFAIRS

CURRENT AFFAIRS

CURRENT AFFAIRS PADMA AWARDS 2022

73RD REPUBLIC DAY India celebrated the 73rd Republic Day on 26 January 2022. The celebrations this year are special as India is in the 75th year of Independence – being celebrated as ‘Azadi ka Amrit Mahotsav’. Republic Day marks the date on which the Constitution of India came into effect on 26 January 1950. It replaced the Government of India Act (1935) as the governing document of India. 10 interesting facts Republic Day 1. Rajpath was not the event’s organisational centre from 1950 to 1954 because Republic Day was organised at Irwin Stadium, Kingsway, Red Fort and Ramleela Maidan from 1950 to 1954. After that, Rajpath has been the permanent venue of Republic Day. 2. The Prime Minister, President or ruler of any country is invited as a guest to the event every year. This time, there are no foreign guests invited to Republic Day because of the ongoing Covid-19 situation. 3. The President’s cavalier bodyguards salute the National Flag, followed by the playing of the National Anthem and the firing of 21 guns. 4. The firing of 21 gunsis not carried out using guns. Instead, Indian Army’s 7 cannons, which are known as 25 ponders, are employed to fire three rounds. These canons were built in 1941 and are used in all the army’s formal programmes. 5. The firing of the gun salute co-exists with the playing of the National Anthem. The first shot is fired at the opening of the National Anthem and the last shot is fired 52 seconds later. 6. The Republic Day parade’s preparations begin in July when all of the participants are officially notified of their participation. They will practice parades at their respective places till August. They come to perform at the event in December. Before the official event, the participants had already trained for 600 hours. 7. Every programme on January 26 is planned and held as per plans because small mistakes and the shortest delay could cost heavily to the organisers. According to media reports, around 320 crores was spent on the event. 8. The song ‘Abide with me’ was played on every Republic Day, as it was Mahatma Gandhi’s favourite song. However, s per a brochure by Indian Army, this hymn was dropped this year in favour of more Indian tunes. 9. Each group covers 9 km on Republic Day. According to the judgement of the judges, the group was awarded the title of ‘Best Marching Group’. 10. The tableau on Republic Day moves at a speed of about 5 km/hour as every individual can see it. The drivers of these tableaus drive through a small window.

The Union ministry of home affairs announced the Padma awards on the eve of the country’s 73rd Republic Day. The Awards are given in three categories: Padma Vibhushan (for exceptional and distinguished service), Padma Bhushan (distinguished service of higher-order) and Padma Shri (distinguished service). Padma Vibhushan ● The late CDS, Bipin Rawat and Kalyan Singh are to be presented with Padma Vibhushan posthumously. Padma Bhushan ● The former West Bengal Chief Minister Buddhadeb Bhattacharjee is presented with Padma Bhushan. But Buddhadeb is to decline the award. He is a CPI (M) leader. ● The congress leader Gulam Nabi Azad, alphabet CEO Sundar Pichai, Microsoft CEO Satya Nadella will also receive the award. ● Gurmeet Bawa, the late folk singer of Punjab, Rajiv Mehrishi, the union home secretary are to be presented with Padma Bhushan. Padma shri ● Sonu Nigam, the play back singer of Bollywood will receive Padma Shri. Sports persons ● A total of six sports persons are to receive the Padma awards 2022. Paralympian Devendra Jhajharia is to receive Padma Bhushan. ● Hockey player Vandana Katariya and Paralympians Pramod Bhagat, Avani Lekhara, Sumit Antil are to receive Padma Shri. Neeraj Chopra, the Tokyo Olympics gold medalist will also receive Padma Shri. Vaccine makers ● Cyrus Poonawala, the founder of SII (Serum Institute of India) will receive Padma Bhushan. ● He is the man behind the popular “COVISHIELD”. The chairman of Bharat Biotech Krishna Ellla and the co-founder of Bharat Biotech Suchitra Ella will also receive Padma Bhushan. Padma Awards 2022 ● In 2022, the President Ram Nath Kovind approved 107 padma shri awards, 17 padma bhushan and 4 padma vibhushan awards. ● In all 128 padma awards. ● Of this one Padma award is a duo case. In duo cases, the award is considered as one.

JPSE–5

CURRENT AFFAIRS

CURRENT AFFAIRS

Padma Vibhushan(4) Name Ms. Prabha Atre Shri Radheyshyam Khemka (Posthumous) General Bipin Rawat (Posthumous) Shri Kalyan Singh (Posthumous)

Field Art Literature and Education

State / Country Maharashtra U.P.

Civil Service

Uttarakhand

Public Affairs

Uttar Pradesh

Padma Bhushan (17) Name Shri Ghulam Nabi Azad Shri Victor Banerjee Ms. Gurmeet Bawa (Posthumous) Shri Buddhadeb Bhattacharjee Shri Natarajan Chandrasekaran Shri Krishna Ella and Smt. Suchitra Ella* (Duo) Ms. Madhur Jaffery Shri Devendra Jhajharia Shri Rashid Khan Shri Rajiv Mehrishi Shri Satya Narayana Nadella Shri Sundararajan Pichai Shri Cyrus Poonawalla Shri Sanjaya Rajaram (Posthumous) Ms. Pratibha Ray Swami Sachidanand Shri Vashishth Tripathi

Field Public Affairs Art Art

State / Country Jammu and Kashmir West Bengal Punjab

Public Affairs

West Bengal

Trade and Industry Trade and Industry

Maharashtra Telangana

Others-Culinary USA Sports Rajasthan Art Civil Service Trade and Industry Trade and Industry Trade and Industry Sci and Engg Literature and Education Literature and Education Literature and Education

Uttar Pradesh Rajasthan USA USA Maharashtra Mexico Odisha Gujarat Uttar Pradesh

Padma Shri (107) Name Shri Prahlad Rai Agarwala Prof. Najma Akhtar

Field Trade and Industry Literature and Education Shri Sumit Antil Sports Shri T Senka Ao Literature and Education Ms. Kamalini Asthana Art and Ms. Nalini Asthana* (Duo)

State / Country West Bengal Delhi Haryana Nagaland Uttar Pradesh

Shri Subbanna Ayyappan Shri J K Bajaj Shri Sirpi Balasubramaniam Srimad Baba Balia Ms. Sanghamitra Bandyopadhyay Ms. Madhuri Barthwal Shri Akhone Asgar Ali Basharat Dr. Himmatrao Bawaskar Shri Harmohinder Singh Bedi Shri Pramod Bhagat Shri S Ballesh Bhajantri Shri Khandu Wangchuk Bhutia Shri Maria Christopher Byrski Acharya Chandanaji Ms. Sulochana Chavan Shri Neeraj Chopra Ms. Shakuntala Choudhary Shri Sankaranarayana Menon Chundayil Shri S Damodaran Shri Faisal Ali Dar Shri Jagjit Singh Dardi Dr. Prokar Dasgupta Shri Aditya Prasad Dash Dr. Lata Desa Shri Malji bhai Desai Ms. Basanti Devi Ms. Lourembam Bino Devi Ms. Muktamani Devi Ms. Shyamamani Devi Shri Khalil Dhantejvi (Posthumous) Shri Savaji Bhai Dholakia Shri Arjun Singh Dhurve Dr. Vijaykumar Vinayak Dongre Shri Chandraprakash Dwivedi Shri Dhaneswar Engti

JPSE–6

Science and Engineering Literature and Education Literature and Education Social Work Science and Engineering Art

Karnataka

Literature and Education Medicine

Ladakh

Delhi Tamil Nadu Odisha West Bengal Uttarakhand

Maharashtra

Literature and Education Sports Art

Odisha Tamil Nadu

Art

Sikkim

Literature and Education Social Work Art

Poland Bihar Maharashtra

Sports Social Work

Haryana Assam

Sports

Kerala

Social Work Sports Trade and Industry Medicine Science and Engineering Medicine Public Affairs Social Work Art

Tamil Nadu J&K Chandigarh

Trade and Industry Art

U.K. Odisha Gujarat Gujarat Uttarakhand Manipur Manipur Odisha

Lit. and Education

Gujarat

Social Work

Gujarat

Art

Madhya Pradesh

Medicine

Maharashtra

Art

Rajasthan

Lit. and Education

Assam

CURRENT AFFAIRS Shri Om Prakash Gandhi Shri Narasimha Rao Garikapati Shri Girdhari Ram Ghonju (Posthumous) Shri Shaibal Gupta (Posthumous) Shri Narasingha Prasad Guru Shri Gosaveedu Shaik Hassan (Posthumous) Shri Ryuko Hira

CURRENT AFFAIRS Shri Anil Kumar Rajvanshi Shri Sheesh Ram Shri Ramachandraiah Dr. Sunkara Venkata Adinarayana Rao Ms. Gamit Ramilaben Raysingbhai Ms. Padmaja Reddy Guru Tulku Rinpoche

Science and Engineering Art Art Medicine

Uttar Pradesh Telangana Andhra Pradesh

Social Work

Gujarat

Art Spiritualism Sports

Japan

Shri Brahmanand Sankhwalkar Shri Vidyanand Sarek

Telangana Arunachal Pradesh Goa

Kerala

Shri Kali Pada Saren

Madhya Pradesh

Dr. Veeraswamy Seshiah Ms. Prabhaben Shah Social Work

Social Work

Haryana

Lit. and Education Lit. and Education Lit. and Education Lit. and Education Art

Andhra Pradesh

Trade and Industry Ms. Sosamma Iype Animal Husbandry Shri Avadh Kishore Lit. and Jadia Education Ms. Sowcar Janaki Art Ms. Tara Jauhar Lit and Education Ms. Vandana Kataria Sports Shri H R Art Keshavamurthy Shri Rutger Lit and Kortenhorst Education Shri P Narayana Lit and Kurup Education Ms. Avani Lekhara Sports Shri Moti Lal Madan Sci and Engineering Shri Shivnath Mishra Art Dr. Narendra Prasad Medicine Misra (Posthumous) Shri Darshanam Art Mogilaiah Shri Guruprasad Civil Service Mohapatra (Posthumous) Shri Thavil Art Kongampattu A V Murugaiyan Ms. R MuthukaArt nnammal Shri Abdul Khader Grassroots Nadakattin Innovation Shri Amai Mahalinga Agriculture Naik Shri Tsering Namgyal Art Shri A K C Natarajan Art Shri V L Nghaka Lit. and Education Shri Sonu Nigam Art Shri Ram Sahay Art Panday Shri Chirapat Lit and Prapandavidya Education Ms. K V Rabiya Social Work

Jharkhand Bihar Odisha Andhra Pradesh

Tamil Nadu Delhi

Shri Dilip Shahani

Uttarakhand Karnataka Ireland Kerala Rajasthan Haryana Uttar Pradesh Madhya Pradesh Telangana Delhi

Puducherry

Tamil Nadu Karnataka Karnataka Ladakh Tamil Nadu Mizoram Maharashtra Madhya Pradesh Thailand Kerala

Shri Ram Dayal Sharma Shri Vishwamurti Shastri Ms. Tatiana Lvovna Shaumyan Shri Siddhalingaiah (Posthumous) Shri Kaajee Singh Shri Konsam Ibomcha Singh Shri Prem Singh Shri Seth Pal Singh Ms. Vidya Vindu Singh Baba Iqbal Singh Ji Dr. Bhimsen Singhal Shri Sivananda Shri Ajay Kumar Sonkar Ms. Ajita Srivastava Sadguru Brahmeshanand Acharya Swami Dr. Balaji Tambe (Posthumous) Shri Raghuvendra Tanwar Dr. Kamlakar Tripathi Ms. Lalita Vakil Ms. Durga Bai Vyam Shri Jyantkumar Maganlal Vyas Ms. Badaplin War

JPSE–7

Lit and Education Lit. and Education Medicine

Lit and Education Art Lit. and Education Lit. and Education Lit. and Education Art Art

Maharashtra

Himachal Pradesh West Bengal Tamil Nadu Dadra and Nagar Haveli and Daman and Diu Delhi Rajasthan J&K Russia Karnataka West Bengal Manipur

Social Work Agriculture Lit. and Education Social Work Medicine Yoga Sci and Engineering Art Spiritualism

Uttar Pradesh Goa

Medicine

Maharashtra

Lit and Education Medicine

Haryana

Art

Himachal Pradesh Madhya Pradesh Gujarat

Art Sci and Engineering Lit and Edu.

Punjab Uttar Pradesh Uttar Pradesh Punjab Maharashtra Uttar Pradesh Uttar Pradesh

Uttar Pradesh

Meghalaya

CURRENT AFFAIRS

CURRENT AFFAIRS ●

BAFTA AWARD–2022 ●

The 75th edition of the British Academy Film Awards, also known as the BAFTA Award, was held at the Royal Albert Hall in London. The award ceremony was hosted by Australian actress, Rebel Wilson.British Academy Television Awards are presented annually to recognize the outstanding work in British Television. It is being given annually since 1955. List of winners : ● Best Film : The Power of the Dog ● Best Director : Jane Campion, The Power of the Dog ● Best Actress in Leading Role : Joanna Scanlan, After Love ● Best Actor in Leading Role : Will Smith, King Richard ● Best Supporting Actress : Ariana DeBose, West Side Story ● Best Supporting Actor : Troy Kotsur, CODA ● EE Rising Star Award : Lashana Lynch ● Outstanding British Film : Belfast ● Outstanding Debut By A British Writer, Director, Or Producer : The Harder They Fall ● Best Film Not In The English Language : Drive My Car ● Best Documentary : Summer of Soul (Or, When The Revolution Could Not Be Televised) ● Best Animated Film : Encanto ● Best Short Animation : Do Not Feed the Pigeons, Vladimir Krasilnikov, Jordi Morera and Antonin Niclass ● Best Short Film : The Black Cop, Cherish Oleka ● Original Screenplay : Licorice Pizza, Paul Thomas Anderson ● Adapted Screenplay : CODA, Sian Heder ● Original Score : Dune, Hans Zimmer ● Casting : West Side Story, Cindy Tolan

DADASAHEB PHALKE INTERNATIONAL FILM FESTIVAL AWARDS -2022 The prestigious ceremony of Dadasaheb Phalke International Film Festival Awards 2022 was held on February 20. This year Dadasaheb Phalke International Film Festival Awards 2022 celebrated the opulence of Indian Cinema and also commemorated the 75 years of Independence or Azadi ka Amrit Mahotsav. List of winners : ● Film of the Year Award: Pushpa: The Rise ● Best Film Award: Shershaah ● Best Actor Award: Ranveer Singh for film 83 ● Best Actress Award: Kriti Sanon for film Mimi ● Outstanding Contribution to Films: Asha Parekh ● Critics Best Actor Award: Sidharth Malhotra ● Critics Best Actress Award: Kiara Advani ● Best Actor in Supporting Role Award: Satish Kaushik for film Kaagaz ● Best Actress in Supporting Role Award: Lara Dutta for film Bell-Bottom ● Best Actor in Negative Role Award: Aayush Sharma for film Antim: The Final Truth

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People’s Choice Best Actor Award: Abhimanyu Dasani People’s Choice Best Actress Award: Radhika Madan Best Debut Award: Ahan Shetty for film Tadap Best Playback Singer Male Award: Vishal Mishra Best Playback Singer Female Award: Kanika Kapoor Critics Best Film Award: Sardar Udham Singh Best Director Award: Ken Ghosh for film State of Siege: Temple Attack Best Cinematographer Award: Jayakrishna Gummadi for film Haseena Dilruba Best International Feature Film Award: Another Round Best Short Film Award: Pauli Best Actor in Web Series Award: Manoj Bajpayee for The Family Man 2 Best Actress in Web Series Award: Raveena Tandon for Aranyak Best Web Series Award: Candy Best Actor in Television Series Award: Shaheer Sheikh for Kuch Rang Pyar Ke Aise Bhi Best Actress in Television Series Award: Shraddha Arya for Kundali Bhagya Television Series of the Year Award: Anupama Most Promising Actor in Television Series Award: Dheeraj Dhoopar for Kundali Bhagya Most Promising Actress in Television Series Award: Rupali Ganguly for Anupama

GOLDEN GLOBE AWARDS : 2022 The Golden Globe Awards 2022 ceremony was held to recognise excellence in film, both American and international, and American television. This was the 79th edition of the annual event. Two of the films namely The Power of the Dog and the West Side Story, won the most number of awards with 3 each. List of winners : ● Best Film (Drama) : The Power of the Dog ● Best Film (Musical or Comedy) : West Side Story ● Best Actor (Drama) : Will Smith for King Richard as Richard Williams ● Best Actress (Drama) : Nicole Kidman for Being the Ricardos as Lucille Ball ● Best Actor (Musical or Comedy) : Andrew Garfield for tick, tick… BOOM! as Jonathan Larson ● Best Actress (Musical or Comedy) : Rachel Zegler for West Side Story as María Vasquez ● Best Supporting Actor : Kodi Smit-McPhee for The Power of the Dog as Peter Gordon ● Best Supporting Actress : Ariana DeBose for West Side Story as Anita ● Best Director: Jane Campion for The Power of the Dog ● Best Screenplay : Kenneth Branagh for Belfast ● Best Original Score : Hans Zimmer for Dune ● Best Original Song : “No Time to Die” (Billie Eilish and Finneas O’Connell) – No Time to Die ● Best Animated Feature: Encanto ● Best Non-English Film : Drive My Car (Japan)

JPSE–8

CURRENT AFFAIRS

CURRENT AFFAIRS

TENNIS GRAND SLAMS : 2021-22 AUSTRALIAN OPEN–2022 ●

Men’s Singles : Rafael Nadal (Spain) beat Daniil Medvedev (Russia)

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Women’s Singles : Ashleigh Barty (Australia) beat Danielle Collins (US)

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Men’s Doubles : Thanasi Kokkinakis (Australia) and Nick Kyrgios (Australia) beat Matthew Ebden (Australia) and Max Purcell (Australia) Women’s Doubles : Barbora Krejcikova (Czech Republic) and Katerina Siniakova (Czech Republic) beat Anna Danilina (Kazakhistan) and Beatriz Haddad Maia (Brazil) Mixed Doubles : Kristina Mladenovic (France) and Ivan Dodig (Croatia) beat Jaimee Fourlis (Australia) and Jason Kubler (Australia)

FRENCH OPEN–2022 ●

Men’s Singles : Rafael Nadal (Spain) beat Casper Ruud (Narway)

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Women’s Singles : Iga Swiatek (Polad) beat Coco Gauff (USA)

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Men’s Doubles : Jean Julien Rojer (Neatherland) and Marcelo Arevalo (El Salvador) beat Ivan Dodig (Croatia) and Austin Krajicek (USA) Women’s Doubles : Caroline Garcia and Kristia Mladenovic (France) beat Coco Guff and Jessica Pegula (USA) Mixed Doubles : Ena Shibahara (Japan) and Wesley Koolhof (Neatherland) beat Joran Vliegean (Belgium) and Ulrikkae Eikeri (Noway)

WIMBLEDON : 2021 ●

Men’s Singles : Novak Djokovic (Serbia) beat Matteo Berrettini (Italy)

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Women’s Singles : Ashleigh Barty (Australlia) beat Karolina Pliskova (Czech Republic)

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Men’s Doubles : Nikola Mektic and Mate Pavic (Croatia) beat Marcel Granollers (Spain) and Horaci o Zeballos (Argentina) Women’s Doubles : Hsieh Suwei (China) and Elise Mertens (Belgium) beat Veronika Kudermetova and Elena Vesnina (Russia) Mixed Doubles : Neal Skupski (U.K.) and Desirae Krawczyk (U.S.) beat Joe Salisbury and Harriet Dart (U.K.)

US OPEN : 2021 ●

Men’s Singles : Daniil Medvedev (Russia) beat Novak Djokovic (Serbia)

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Women’s Singles : Emma Raducanu (UK) beat Leylah Annie Fernandez (Canada)

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Men’s Doubles : Rajeev Ram (USA) and Joy Salisbury (UK) beat Jamie Murray (UK) and Bruno Soares (Brazil) Women’s Doubles : Sanatha Stosur (Australia) and Zhang Shuai (China) beat Coco Gauff and McNally (USA)

JPSE–9

CENTRAL BUDGET : 2022-23

CENTRAL BUDGET : 2022-23

CENTRAL BUDGET : 2022-23 A budget can be made for a person, family, group of people, business, government, country, multinational organization or just about anything else that makes and spends money. A budget is a microeconomic concept that shows the tradeoff made when one good is exchanged for another. The budget was first introduced in India on 7 April, 1860 by the East-India Company to the British Crown. Pre-independence finance minister, James Wilson presented the budget in 1860. The Union Budget of India, also referred to as the Annual financial statement in the Article 112 of the Constitution of India, is the annual budget of the Republic of India. It is presented each year on the last working day of February by the Finance Minister of India in Parliament. The budget, which is presented by means of the Financial bill and the Appropriation bill has to be passed by the Houses before it can come into effect on April 1, the start of India’s financial year. IMPORTANCE OF BUDGET In today’s World Government is finance. According to Kautilya “All undertakings depend upon finance. Hence foremost attention must be paid to the treasury”. Financial administration is always at the core of modern government. It is an integral and indispensable tool of administration. It is concerned with implementation of policies. “Finance is universally involved in administration as oxygen is in the atmosphere.”

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Budget ensures the financial and legal accountability of the executive (government) to the legislature. It makes sure accountability of subordinates to superiors in the administrative hierarchy. It works as an instrument of social and economic policy to serve the functions of allocation, distribution and stabilisation. It facilitates the efficient execution of the function and services of government. It facilitates administrative management and coordination as it unites the various activities of the gvernment into a single plan.

CENTRAL BUDGET Government has several policies to implement in the over al l task of performing its functions to meet the objectives of social & economic growth. For implementing these policies, it has to spend huge amount of funds on defense, administration, and development, welfare projects & various other relief operations. It is therefore necessary to find out al l possible sources of getting funds so that sufficient revenue can be generated to meet the mounting expenditure. Planning process of assessing revenue & expenditure is termed as Budget.

COMPONENTS OF GOVERNMENT BUDGET The main components or parts of government budget are explained below. CENTRAL BUDGET

Tax

Revenue and Expenditure

Income Tax

Investment

Corporation Tax

Education

Agriculture

Defence

Other

Service Tax

DO YOU KNOW? In 1921, British railway economist, William Mitchell Acworth was appointed chairman of the Committee on Indian Railways. The report of the committee, known as the “Acworth Report”, led to reorganization of Indian Railways the railway finances of India were separated from the general government finances in 1924.

JPSE–10

CENTRAL BUDGET : 2022-23

CENTRAL BUDGET : 2022-23

On September 21, 2016, the Union Cabinet approved the proposals of the Finance Ministry on the reforms related to the merger of the rail budget with the general budget. In the first tenure of the Modi government, Finance Minister Arun Jaitley abolished the 92-year-old tradition, and the announcement of the Railway Budget from 2017 to the Finance Minister in the general budget is also made by the Finance Minister. INDIAN BUDGET: AT A GLANCE ● Shanmukham Chetty, first Finance Minister of India presented the budget in November 1947 without any tax proposals. However , he presented the analysis of the economic scenario of Independent India just 95 days before the budget presentation in 1948. ● Liaquat Ali Khan was the finance minister of the All India Muslim League from October 1946 to Independence in 1947. ● John Mathai was the third finance minister to present the budget in 1950-51 before C.D Deshmukh, who presented the budget in the newly formed Indian Parliament. ● Deshmukh was the first Indian RBI governor and Finance Minister from 1950 to 1956. ● Budget papers in Hindi were being printed from 1955 onwards. ● Jawaharlal Nehru ,the first Prime Minister, presented the budget when he was Union Finance Minister as well in 1958-1959. ● Later in 1959, Morarji Desai when became Finance minister . He presented two budgets on February 29 on his birthday in the years 1964 and 1968. ● The budget of 1973-74 is known as the ‘Black Budget’ as the nation had a deficit of Rs.550 crore. ● After Desai’s resignation in 1979, Indira Gandhi took over as the first and only female Finance Minister of India. ● The 1987 budget was presented by Rajiv Gandhi after V.P. Singh quit the government . Gandhi introduced the corporate tax. ● In 1991 Yashwant Sinha from NDA, presented the interim budget, but in the same year Congress regained its power and appointed Manmohan Singh as Finance Minister. ● In 1991, he introduced the concept of service tax, and foreign investment proposals and reduction of peak import duty from 300 percent to 50 percent. ● P.Chidambaram in 1996 presented the budget without a debate, following constitutional crises during I.K Gujral’s prime -ministership. A year later, he again proposed the ‘Dream Budget’.

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Till the year 2000, the Union budget was announced at 5 pm, but Yashwant Sinha began a new trend by announcing it at 11 am in 2001. Yashwant Sinha’s 1991, 1999, 2000 and 2001 budgets followed Forex crises, the Pokhran blasts, the Kargil war and Gujarat earthquake respectively. The ‘Sarva Siksha Abhiyan Programme’ was announced during the 2001 budget when Atal Bihari Vajpayee was the prime minister. The National Rural Health Mission, Gender Budget and NREGA schemes were announced in the 2005-06 budget. Morarji Desai topped the list with 10 budget presentations. after this P Chidambaram second the list with 8 budget presentation. Nirmala Sitharaman is India’s 27th Finance Minister, who will present the budget in Parliament. Nirmala Sitharaman is also India’s first woman finance minister, although before that, the then Prime Minister Indira Gandhi held the post of finance minister from 16 July 1969 to 27 June 1970. CENTRAL BUDGET 2022-23

Union Finance Minister Nirmala Sitharaman presented the Union Budget 2022 on February 1. She said that the Budget proposals for this financial year rest on health and well-being, infrastructure, inclusive development, energy transition and climate action, financing of investments and ‘Minimum Government, Maximum Governance’. India’s economic growth estimated at 9.2% to be the highest among all large economies. 60 lakh new jobs to be created under the productivity linked incentive scheme in 14 sectors. BUDGET HIGHLIGHTS EXPENDITURE : The government proposes to spend Rs 39,44,909 crore in 2022-23, which is an increase of 4.6% over the revised estimate of 2021-22. In 2021-22, total expenditure is estimated to be 8.2% higher than budget estimate. RECEIPTS : The receipts (other than borrowings) in 2022-23 are expected to be to Rs 22,83,713 crore, an increase of 4.8% over revised estimate of 2021-22. In 2021-22, total receipts (other than borrowings) are estimated to be 10.2% higher than the budget estimates. GDP : The government has estimated a nominal GDP growth rate of 11.1% in 2022-23 (i.e., real growth plus inflation). DEFICITS : Revenue deficit in 2022-23 is targeted at 3.8% of GDP, which is lower than the revised estimate of 4.7% in 2021-22. Fiscal deficit in 2022-23 is targeted at 6.4% of GDP, lower than the revised estimate of 6.9% of GDP in 2021-22 (marginally higher than the budget estimate of 6.8% of GDP). Interest expenditure at Rs 9,40,651 crore is estimated to be 43% of revenue receipts.

JPSE–11

CENTRAL BUDGET : 2022-23

CENTRAL BUDGET : 2022-23 CORPORATE TAX : In Budget 2022, the corporate tax rate too was kept at the same level. However, the concessional rate of 15 per cent has been extended by one year for newly incorporated manufacturing units. TAXATION ON CRYPTOCURRENCIES, VIRTUAL ASSETS : Giving clarity on taxation of cryptocurrencies and other virtual assets, Finance Minister Nirmala Sitharaman proposed a 30 per cent tax on income from transactions in such assets. Also, to bring such assets under the tax net, she proposed a 1 per cent TDS (tax deducted at source) on transactions in such asset classes above a certain threshold. Gifts in crypto and digital assets will also be taxed, she said.

EXTRA BUDGETARY RESOURCES (EBR) : After a number of years, the budget has not relied on EBR or loans from National Small Savings Fund. MINISTRY ALLOCATIONS : Among the top 13 ministries with the highest allocations, in 2022-23, the highest percentage increase in allocation is observed in the Ministry of Communications (93%), followed by the Ministry of Road Transport and Highways (52%), and the Ministry of Jal Shakti (25%). INCOME TAX : There was no change in the income tax slabs in the personal income tax category in the Budget 2022-23. FM Sitharaman also did not raise the standard deduction limit. The standard deduction currently stands at Rs. 50,000. FM Nirmala Sitharaman has proposed a new provision permitting taxpayers to file an updated return on payment of additional tax. This updated return can be filed within two years from the end of the relevant assessment year.

GST COLLECTIONS : FM Sitharaman said there has been a remarkable progress made in the Goods and Services Tax (GST) regime, but still a few challenges remain. Gross GST collection in January was Rs. 1,40,986 crores. JOBS : FM said the next target of the government is to create 60 lakh jobs in 5 years. The productivity linked incentive in 14 sectors for achieving the vision of “AtmaNirbhar Bharat” has received excellent response, with potential to create 60 lakh new jobs, and additional production of 30 lakh crore during the next 5 years. PENSION : The tax deduction limit on employer’s contribution to the National Pension System (NPS) account of the state government employees will be increased from 10 per cent to 14 per cent. AGRICULTURE : The Centre will promote Kisan Drones, chemical-free natural farming, public-private partnerships for the delivery of digital and high-tech services to farmers across the country during the financial year 2022-23, FM Nirmala Sitharaman said while presenting Union Budget 2022. The government will also facilitate a fund with blended capital raised under the co-investment model through NABARD to finance agriculture start-ups and rural enterprises. The government’s procurement of wheat and paddy at the minimum support price (MSP) during 2021-22 will cover 1,208 lakh tonnes from 163 lakh farmers. Rs 2.37 lakh crore will be paid directly as MSP value to their accounts. PM GATI SHAKTI : FM Sitharaman said the PM Gati Shakti National Master Plan is a transformative approach for economic growth and sustainable development and is driven by seven engines — roads, railways, airports, ports, mass transport, waterways and logistics infrastructure. All seven engines will pull forward the economy simultaneously.

JPSE–12

CENTRAL BUDGET : 2022-23

CENTRAL BUDGET : 2022-23

5G ROLL OUT : India is gearing up for the roll out of 5G technology. FM Sitharaman said that spectrum auction will be conducted to roll out 5G mobile services within the financial year 2022-23 by private firms. She also said that voluntary exit for corporates will be cut down to 6 months from 2 years. RIVER LINKING : The Ken-Betwa Link Project will be implemented at an estimated cost of Rs 44,605 crore. Five more river linking projects are being implemented. DIGITAL RUPEE : Meeting demands from large sections of industry, FM Sitharaman said the Reserve Bank of India (RBI) will launch a ‘Digital Rupee’ based on blockchain technology in 2022-23. DIGITAL BANK : Scheduled commercial banks will set up 75 digital banks in 75 districts to encourage digital payments. E-PASSPORTS : Presenting the Union Budget 202223, FM also said that e-passports with the embedded chip will be rolled out. HOUSING : 80 lakh houses will be completed under PM Awas Yojana with an outlay of Rs. 48,000 crore. Rs. 60,000 crore has been allocated for ‘Har Ghar, Nal Se Jal’ scheme under which 3.8 crore households will be covered. RAIL BUDGET : Around 2,000 km of rail network will be brought under indigenous technology, KAWACH for safety and capacity augmentation. FM Sitharaman also said that 400 new generation Vande Bharat trains will be manufactured in the next three years. EMERGENCY CREDIT BOOST : The Emergency Credit Line Guarantee Scheme (ECLGS) that provided much needed additional credit to over 1.3 crore MSMEs will be extended till March 2023. Apart from this, its guarantee cover has been expanded by Rs. 50,000 crore to Rs. 5 lakh crore.

BORROWING : The government will borrow about Rs. 11.6 lakh crore from the market in 2022-23 to meet its expenditure requirement. This is nearly Rs. 2 lakh crore higher than the current year’s Budget estimate of Rs. 9.7 lakh crore. GREEN ECONOMY : Stressing on the transition to carbon neutral economy, FM Sitharaman has announced an allocation of Rs. 19,500 crore proposed for production linked incentives for manufacturing of highefficiency modules. She noted that risks of climate change are the strongest negative externalities that affect India and other countries. ‘Sovereign Green Bonds’ will be issued for mobilizing resources for investment in green infrastructure. DEFENCE : To boost self-reliance and reduce reliance on imports of defence equipment, 68 per cent of capital procurement budget for defence has been earmarked for domestic industry. The Defence Research and Development was opened up for industry and startups. HEALTH : For better access to quality mental health counselling and care services, a ‘National Tele Mental Health Programme’ will be launched. Apart from this, an open platform for the National Digital Health Ecosystem will be rolled out. It will consist of digital registries of health providers and health facilities, unique health identity and universal access to health facilities.

Education : PM eVidya’s ‘One Class One TV Channel’ program to be expanded from 12 to 200 TV channels.This will help all the states to provide supplementary education in regional languages from class 1 to 12.

JPSE–13

CENTRAL BUDGET : 2022-23

CENTRAL BUDGET : 2022-23

HIGHLIGHTS OF UNION BUDGET : 2022-23 ● India’s growth estimated at 9.2 pc, to be highest among large economies ● Fiscal deficit in 2022-23 estimated at 6.4 pc of GDP ● Total expenditure in 2022-23 pegged at Rs 39.45 lakh cr ● Total receipts other than borrowings estimated at Rs 22.84 lakh cr in FY23 ● ‘Effective Capital Expenditure’ of central government estimated at Rs 10.68 lakh cr in 202223, which is about 4.1pc of GDP ● Fiscal deficit in current year at 6.9 pc of GDP (against 6.8pc in Budget Estimates) ● 60 lakh new jobs to be created under productivity linked incentive scheme in 14 sectors ● No change in personal income tax rates ● Provision to file an updated return on payment of additional tax; can be filed within two years from the end of the relevant assessment year ● Updated return provision to enable assessee to declare income missed out earlier ● Tax deduction limit increased from 10% to 14% on employer’s contribution to the NPS account of state government employees ● Incentives for start-ups: Period of incorporation extended by 1 year, up to March 31, 2023 for eligible start-ups to avail tax benefit ● Any income from transfer of any virtual digital asset to be taxed at the rate of 30 pc; gift of virtual digital asset also to be taxed in the hands of recipient ● Health and education cess: any surcharge or cess on income, profits not allowable as business expenditure ● No setoff of any loss to be allowed against undisclosed income detected during search, survey operations ● Alternate minimum tax paid by cooperatives brought down from 18.5 per cent to 15 per cent ● Payment of annuity and lump sum amount from insurance scheme to be allowed to differently-abled dependent during the lifetime of parents/guardians, that is on parents/ guardian attaining the age of 60 years ● Surcharge on long term capital gains arising on transfer of any type of assets capped at 15 pc ● Gradual phasing out of concessional rates in capital goods and project imports; applying a tariff of 7.5 pc, conducive to the growth of domestic sector

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Over 350 exemption entries proposed to be gradually phased out, like exemption on certain agri produce, chemicals, fabrics, medical devices, and drugs and medicines for which sufficient domestic capacity exists Customs rate, tariff structure simplified particularly for sectors like chemicals, textiles and metals Customs duty rates to be calibrated for graded rate structure; to facilitate domestic manufacturing of wearable devices, hearable devices and electronic smart meters Duty concessions to parts of transformer of mobile phone chargers, camera lens of mobile camera module and some other items to promote domestic manufacturing of high growth electronic items Customs duty on cut, polished diamonds, gemstones cut to 5%; no duty on simply sawn diamond Customs duty of at least Rs 400 per kg to be paid on imitation jewellery import Customs duty on umbrellas raised to 20%; exemption to parts of umbrellas withdrawn Customs duty exemption given to steel scrap last year extended for another year to offer relief to MSME secondary steel producers Unblended fuel to attract an additional differential excise duty of Rs 2/ litre from Oct 1, 2022, to encourage blending of fuel Rs 2.37 lakh cr direct payment to 1.63 crore farmers for procurement of wheat, paddy Rs 2 lakh cr additional credit for micro and small enterprises to be facilitated under the Credit Guarantee Trust for Micro and Small Enterprises For MSMEs, guarantee cover under ECLGS to be expanded by Rs 50,000 Crore to total cover of Rs 5 lakh cr Raising and Accelerating MSME performance (RAMP) programme with outlay of Rs 6,000 crore to be rolled out for MSMEs Rs 60,000 crore allocated to cover 3.8 crore households in 2022-23 under ‘Har Ghar, Nal se Jal’ Rs 48,000 crore allocated for completion of 80 lakh houses in 2022-23 under PM Awas Yojana Additional allocation of Rs 19,500 crore for Production Linked Incentive for manufacture of high efficiency solar modules to meet the goal of 280 GW of installed solar power by 2030 Initial allocation of Rs 1,500 crore made to enable livelihood activities for youth and women under the Prime Minister’s Develop-

CENTRAL BUDGET : 2022-23

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CENTRAL BUDGET : 2022-23

ment Initiative for North-East Region (PMDevINE) SEZ Act to be replaced with new legislation to enable States to become partners in ‘Development of Enterprise and Service Hubs’ Defence: 68% of capital procurement budget earmarked for domestic industry in 2022-23, up from 58% in 2021-22 Defence R&D to be opened up for industry, startups and academia with 25% of defence R&D budget earmarked Scheduled Commercial Banks to set up 75 Digital Banking Units (DBUs) in 75 districts 100 per cent of 1.5 lakh post offices to come on core banking system

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e-Passports with embedded chip, futuristic technology to be rolled out Battery swapping policy to be brought out for setting up charging stations at scale in urban areas for promotion of electric mobility Centre for Processing Accelerated Corporate Exit (C-PACE) to be established for speedy winding-up of companies Scheme for design-led manufacturing to be launched to build a strong ecosystem for 5G as part of the PLI scheme Data centres and energy storage systems to be given infrastructure status RBI to introduce digital rupee in FY23 to boost digital economy, better currency management

BUDGET AT A GLANCE : 2022-23 (Rs Crore) Actuals 2020-21

Budgeted 2021-22

Revised 2021-22

Budgeted 2022-23

% change (RE 2021-22 to BE 2022-23)

Revenue Expenditure

30,83,519

29,29,000

31,67,289

31,94,663

0.9%

Capital Expenditure

4,26,317

5,54,236

6,02,711

7,50,246

24.5%

Capital Outlay

3,15,826

5,13,862

5,47,457

6,10,189

11.5%

Loans and Advances

1,10,491

40,374

55,255

1,40,057

153.5%

of which:

Total Expenditure

35,09,836

34,83,236

37,70,000

39,44,909

4.6%

Revenue Receipts

16,33,920

17,88,424

20,78,936

22,04,422

6.0%

Capital Receipts

57,625

1,88,000

99,975

79,291

-20.7%

Recoveries of Loans

19,729

13,000

21,975

14,291

-35.0%

Other receipts

37,897

1,75,000

78,000

65,000

16,91,545

19,76,424

21,78,911

22,83,713

4.8%

14,49,599

11,40,576

10,88,352

9,90,241

-9.0%

7.3%

5.1%

4.7%

3.8%

18,18,291

15,06,812

15,91,089

16,61,196

9.2%

6.8%

6.9%

6.4%

11,38,422

6,97,111

7,77,298

7,20,545

5.8%

3.1%

3.3%

2.8%

of which:

(including disinvestments) Total Receipts (excluding borrowings) Revenue Deficit % of GDP Fiscal Deficit % of GDP Primary Deficit % of GDP

Source: Budget at a Glance, Union Budget Documents 2022-23; PRS.

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4.4%

-7.3%