Economy

My friend said the State government puts the money into pits, potholes, drainage, garbage, wells, lakes, rivers and sea! A speaker in a seminar said the  Central Government’s budget is progressive, and the State Government’s budget is nothing but doling out freebies. Is it true, or how much of it …

After discussing the enormous numbers in the Union Budget 2023, I am here to take you through Karnataka State Budget 2023. Karnataka State is five times the size of Kerala or 263 times the size of Singapore! It is a large State; it must be grossing up a lot of …

Where are my taxes going? City roads are bad, and the highways have overcharged tolls. No new bridges are seen. From water to railways, everything is charged. I am unable to find where my taxes are spent! Are you one of those citizens wondering about this? If so, here is …

Before going to the main topic of Senior Citizen, let me write on reduced Surcharge. Mr Ramana is a highly paid senior executive in Microsoft India. He is getting a salary of Rs.6 Crore per year. If asked which tax regime benefits him, without thinking twice, you can say New …

Reserve Bank of India (RBI) increased the Repo Rate to 6.25% on 7th December 2022. How does it impact the borrowers and deposit holders? For the borrowers, an increase in the interest rate hurts but the depositors cheer up! Usually, the father is a depositor and the son is a …

A Kirana store in the corner of the locality is a part of every middle-class Indian’s environment. Balaji Enterprises at Girinagar is operating in the same place, same dimensions with the same people for the last 30 years. A street vendor in front of our house said that he is …

We have heard enough of Unicorns, that is to say, what they do, how they earn, how much they spend, and their soaring valuations, etc. For a change, let us understand the story of Popcorn now. Before getting to the story, we have to set the background. India has around …

When things are going well, all of us are busy managing wealth! Planning for the next trip. Finding faults with others. Becoming restless if the work assigned is delayed by the vendor or the team. We think of growing the business or pushing the kids to do more and more! …

Mr. Kanakaraj is employed at Golden Tech. He gets his salary, and perquisites from the company, after deducting applicable taxes. Mr. Abhishek is a Member of Parliament (MP). He also gets his salary, and perquisites from the Government of India after deducting applicable taxes. Additionally, he also gets a lifetime …

In the previous article (read here https://simplifiedlaws.com/economy/karnataka-budget-2022/), we have seen that the Government of Karnataka is estimated to spend Rs.2,61,977 Crores, of which, Rs.1,89,977 Crores comes from Revenue sources and the balance of Rs.72,000 comes from loans/borrowings. On what does the Government spend the money? For our easy understanding, let us …