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Why is India struggling to cut its dependence on China? | Mint Explains | Mint
The video highlights how India has been struggling to reduce its dependence on China, mainly due to the large scale and low cost of Chinese manufacturing. India's policymakers have attempted to address this issue through a range of measures, but imports from China continue to rise in many key categories. India is making efforts to encourage domestic production through production-linked incentive schemes in various sectors, but challenges remain, including a lack of manufacturing expertise and the disruption of global supply chains due to the COVID-19 pandemic. Overall, reducing India's dependence on China is a work in progress, and it will take time for these measures to have the desired impact.
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Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared