key terms in budget

 Key Terms in Indian Economic 

1. GDP (Gross Domestic Product): The total monetary value of all goods and services produced within a 

country's borders within a specific time frame, often used as a key indicator of a nation's economic health. 

2. CapEx (Capital Expenditure): The funds spent by a government or company on acquiring or maintaining 

physical assets, like infrastructure or equipment, to enhance or extend its productive capacity. 

3. Geopolitical Risks: Potential threats or disruptions arising from political, economic, or social factors in 

different regions, impacting global economic stability. 

4. Fiscal Deficit: The difference between a government's total expenditures and the revenue generated 

(excluding money from borrowings), indicating the extent of borrowing needed. 

5. GIFT IFSC (Gujarat International Finance Tec-City International Financial Services Centre): An international 

financial center situated in Gujarat, India, aimed at attracting global capital and fostering financial services. 

6. Faceless Scheme: An initiative to introduce anonymity and reduce direct contact between taxpayers and 

tax officials through electronic processes. 

7. Viability Gap Funding: Financial support provided by the government to infrastructure projects where the 

expected returns are insufficient for private investment but crucial for public welfare. Deep-Tech Defense and Related Technologies: Innovation in defense technologies involving advanced and 

cutting-edge scientific and engineering principles. 

9. Bilateral Investment Treaties: Agreements between two countries to encourage and protect foreign 

investment. 

10. U-WIN (Unified Vaccine Information Network): A technology platform aimed at streamlining and 

enhancing immunization efforts, especially under initiatives like Mission Indradhanush. 

11. Net Zero: Commitment to balance the amount of greenhouse gas emissions produced with an equivalent 

amount offset or removed from the atmosphere, usually by investing in environmental projects. 

12. ISD (Input Service Distributor): A mechanism under the Goods and Services Tax (GST) system to distribute 

tax credits for input services across different locations of a business. 

13. Sunset Period: The predetermined time frame during which specific tax incentives or concessions are 

applicable. 

14. Monetary Tightening: Policies aimed at reducing the money supply to control inflation, often involving 

increasing interest rates. 

15. Quantitative Tightening: Measures to reduce the supply of money in an economy, often involving the sale 

of government securities. 

16. IMF (International Monetary Fund): An international financial institution that provides financial assistance, 

research, and policy advice to its member countries. 

17. World Bank: An international financial institution that provides loans and grants to the governments of 

poorer countries for the purpose of pursuing capital projects. 

18. Output Outcome Monitoring Framework: A system to track and evaluate the results and effectiveness of 

budget expenditures. 

19. Inflation: The rate at which the general level of prices for goods and services is rising, eroding purchasing 

power. 

20. Commodity Prices: The market prices of raw materials, goods, or primary agricultural products.