37558_12_092721_360 Flashcards
(23 cards)
What negative trends have been observed in public finances since 2017-18?
The tax-to-GDP ratio has declined, current expenditure has grown rapidly, development spending has been cut back, and the budget deficit is rising as a % of GDP.
What is the principal instrument of fiscal policy in public finances?
The Federal and Provincial Budgets.
What are the two components of revenue in the federal budget?
- Taxes
- Non-taxes
What does a budget’s expansionary or contractionary nature depend on?
Either tax breaks/higher taxation or fast expansion/limited increase in expenditure especially on development.
What was the federal tax revenue in 2017-18?
4028 billion Rs.
What was the annual growth rate of federal taxes from 2017-18 to 2023-24?
15.8%
What was the share of direct taxes as a percentage of total national tax revenues in 2023-24?
40.6%
Fill in the blank: The tax-to-GDP ratio has fallen by almost ______ of the GDP.
1%
What has been the trend in federal current expenditure from 2017-18 to 2023-24?
It has expanded very rapidly.
What is the growth rate of debt servicing in federal current expenditure from 2017-18 to 2023-24?
28.2%
What has happened to development expenditure as a percentage of GDP from 2017-18 to 2023-24?
It has fallen by 2.3%.
As of 2023-24, what is the rank of debt servicing in federal expenditure?
1
What has been the trend in the federal fiscal deficit as a percentage of GDP from 2017-18 to 2023-24?
It has worsened.
What percentage of the federal budget deficit was financed by domestic borrowing in 2023-24?
98.4%
True or False: The reliance on external borrowing has increased from 2017-18 to 2023-24.
False
What was the total national expenditure in 2023-24?
20680 billion Rs.
What percentage of total revenue was comprised of non-tax revenue in 2023-24?
2.0%
Fill in the blank: Federal development expenditure in 2023-24 is ______ billion Rs.
635
What has been the effect of debt servicing on development expenditure over the years?
It has led to a squeezing out of development expenditure.
What was the federal fiscal deficit as a percentage of GDP in 2023-24?
-7.3%
What was the growth rate of provincial current expenditure from 2017-18 to 2023-24?
13.3%
What was the provincial cash surplus/deficit in 2023-24?
0.5
What trend has been observed regarding the share of direct taxes in national tax revenues?
The share has increased.
