With regards to planning, budgeting, distinguishing territories of shortcoming and weaknesses encourages the government to apportion assets in a helpful and supportable way. A nearby glance at national financial plans shows whether government strategies favour the rich or poor people. The reporting sheds insight into who wins, loses and escapes everyone’s notice of the framework. At the best, media investigation and scrutiny help keep governments genuine and animates open discussion. The media assumes plays a significant role in strengthen the budget accountability by informing the public. An essential duty of the media is to furnish people in general with government spending data in broadly available organizations and language. It does this by making an interpretation of specialized spending data into “easy to understand” presentations. The media can likewise draw upon specialists outside of government, remembering for the scholarly community and common society, to survey spending proposition for: exactness, arrangement with necessities and needs, sufficiency. By publicising alternative views on budgets and policies proposals, media can raise awareness, spur debate, and encourage the public to not only pay attention to budget processes and policies.
The Annual Union Budget segregations should encompass:
-Pointers and data representing Allocation, Taxation and expenditure increment or decrement
-Receipts owing to higher or lower estimated revenue
-GDP growth numbers, Deficits such as fiscal deficits, revenue deficit
-Ministry allocations for different ministries under the union and the data representing increment or decrement of fiscal allocations to them
-Changes in taxes such as in income taxes, house taxes, corporate taxes, Goods and services tax, Union excise taxes, Service tax etc.
-New tax proposals according to different income groups
-Corporate schemes and taxation policies
-Deductions or increase in social security contributions and schemes
-TDS on e-commerce transactions and the degree to what it will be levied.
-Housing incentives, loans and schemes
-Taxation patterns and changes for start-ups and ESOP’s held by employees
-Changes in excise duties on tobacco products like cigarettes, chewing tobacco and alcohol.
-Custom duties increment or decrement for foreign goods
-Health cess on health equipments such as X-Rays which are imported into India
-Obligations and Taxation rules for charitable organisations
-Changes in commodities transaction taxes
-Action over soverign wealth funds
-On looking legislative changes to regulatory and fiscal acts
-GST Compensations to compensate decrements in previous GDP Numbers
-Disinvestments in Public Sector Units by by selling holdings and shares
-Investment schemes and securities for corporate, private and foreign investors
-Commerce and Industry which focus on produc production capabilities, schemes to fortify commercial requirements
-Infrastructure and Urban Development which involve building of residential complexes, housing schemes , drinking water, sanitation and Healthcare services, ownership models etc
-Transport and Energy which involves development of airports, railway stations, bus depots, interstate travel services and also energy consumption and production methods
-Agriculture and allied activities which involve farmer schemes, agricultural schemes, subsidies and other agro rehabilitation actions and plans.
-Technology which discusses technological investments, plans, planning and executions in the field of science and physics
-Education which involves new educational schemes, development of schools and universities and other scholastic subsidies and innovations
-Health which will involve novel schemes and subsides towards healthcare, ownership methods of healthcare
-Social Justice wherein socioeconomic concerns are looked about and remedied with allocations and directions
-Breakup of Central Government Expenditure and Grants To States
-Expenditure on subsidies on food, agriculture, petroleum, fertilizer, medicines and others
-Expenditure on Major Schemes such as the PM Kisan yojna, MNREG’s, National education mission, Pradhan mantra gram sadak yojna etc
-Expenditure on Schedule Tribes, Scheduled castes, women and children welfare schemes