BANKING AFFAIRS

Detailed explanation-1: -The Budget proposed an outlay of Rs. 7148 crore for the textile sector in 2018-19 as against Rs. 6, 000 Crore in 2016. Emphasising that infrastructure is the growth driver of economy, the Finance Minister estimated that investment in excess of Rs.

Detailed explanation-2: -At the end of fiscal year 2018, the budgeted estimate of revenue expenditure on non-developmental expenses of India’s central and state governments amounted to more than 22 trillion Indian rupees and developmental expenses amounted to approximately 19 trillion rupees.

Detailed explanation-3: -Total budgeted expenditure for 2018-19 is set at Rs 2, 442, 213 crore (US$ 383.93 billion). Central Government’s debt to GDP ratio will be brought down to 40 per cent, as per the recommendations of the Fiscal Reform and Budget Management Committee.

Detailed explanation-4: -The total allocation for the Ministry of Textiles will be ₹4, 389.34 crores compared to ₹3, 579.61 crores for the current fiscal.

Detailed explanation-5: -The allocation for the textile sector for year 2022-23 in the Union Budget presented today by finance minister Nirmala Sitharaman stands at about ₹12, 382.14 crore, which is about 8.1 per cent higher than the revised budget allocation of 2021-22 which stands at about ₹11, 449.32 crore.