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ET looks at some of the key budget components:
1. Budget Size: This will be the most-tracked number ahead of general polls, as it will reveal the govt’s fiscal support to the economy and various welfare programmes.
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![Screenshot 2024-01-10 001811 Screenshot 2024-01-10 001811](https://img.etimg.com/photo/msid-42031747/et-logo.jpg)
Source: Budget documents; CGA
2. Capital Spending: Government capex, with high multiplier effect, has helped spur investment led growth in the absence of a broad-based resurgence in private investment.
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![Screenshot 2024-01-10 002206 Screenshot 2024-01-10 002206](https://img.etimg.com/photo/msid-42031747/et-logo.jpg)
3. Fiscal Deficit: It reflects Budget’s fiscal stimulus, or lack of it, and indicates if the govt is on its stated fiscal course correction path.
![Screenshot 2024-01-10 005040 Screenshot 2024-01-10 005040](https://img.etimg.com/photo/msid-42031747/et-logo.jpg)
4. Nominal GDP growth: Mainly tracked for govt’s revenue assumptions and tax buoyancy; high growth helps govt contain fiscal deficit ratio.
![Screenshot 2024-01-10 005128 Screenshot 2024-01-10 005128](https://img.etimg.com/photo/msid-42031747/et-logo.jpg)
Read More: The beast called interim budget: An outgoing govt's budget or a returning one's?
5. Net tax mop-up: Tax and other receipts are looked at to assess the govt’s ability to spend without worsening fiscal gap. If they fall short, borrowing will have to be raised or spending cut.
![Screenshot 2024-01-10 005216 Screenshot 2024-01-10 005216](https://img.etimg.com/photo/msid-42031747/et-logo.jpg)
6. Disinvestment: This will signal government's privatisation goals amid latest setback on the strategic sale front; it also adds to the government's revenue mop-up.
![Screenshot 2024-01-10 005312 Screenshot 2024-01-10 005312](https://img.etimg.com/photo/msid-42031747/et-logo.jpg)
7. RBI dividend: No special mention of RBI dividend in Budget but it’s a part of “dividends and profits”. Generous RBI dividends have helped the government narrow its fiscal gap.
![Screenshot 2024-01-10 005356 Screenshot 2024-01-10 005356](https://img.etimg.com/photo/msid-42031747/et-logo.jpg)
Read More: Budget 2024: Rising aspirations of India's growing middle class awaits fiscal measures to redefine economic landscape
8. Market Borrowing: It has a bearing on interest rates and bond yields; excessive market borrowing by govt can crowd out private players.
![Screenshot 2024-01-10 005446 Screenshot 2024-01-10 005446](https://img.etimg.com/photo/msid-42031747/et-logo.jpg)
The outlay for the poor:
1. MGNREGS: It provides employment opportunity to mainly unskilled workers to prevent rural distress.
![Screenshot 2024-01-10 005552 Screenshot 2024-01-10 005552](https://img.etimg.com/photo/msid-42031747/et-logo.jpg)
2. Food security: It funds the programme that ensures food for the poor and also finances procurement to prevent distress sales by farmers.
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(Catch all the Business News, Breaking News, Budget 2024 Events and Latest News Updates on The Economic Times.)
Subscribe to The Economic Times Prime and read the ET ePaper online.