Key points of the central final accounts report of 12000 words: 6 key areas of fund support

category:Finance
 Key points of the central final accounts report of 12000 words: 6 key areas of fund support


In 2019, the central governments general public budget revenue was 8930.947 billion yuan, an increase of 406 million yuan over the number of implementation disclosed at the two sessions. The central governments general public budget expenditure was 10947.501 billion yuan, 5.524 billion yuan less than the implementation amount disclosed by the NPC and the CPPCC. A total of 5.93 billion yuan was added to income and decreased expenditure, which was included in the budget stabilization adjustment fund.

According to the report, many of the central governments revenue and expenditure performance last year exceeded expectations at the beginning of the year. For example, on the income side, the actual income of individual income tax is only 80% of the expected at the beginning of the year, which is mainly because the scale of individual income tax reduction is larger than expected. In 2019, the individual tax reduction will be 460.4 billion yuan, which will benefit 250 million taxpayers directly. The per capita tax reduction will be about 1842 yuan.

The debt interest payment at the expense end was lower than expected at the beginning of the year. Last year, it spent RMB 456.662 billion, 91.4% of the budget. This was mainly due to the decrease of domestic debt interest payment due to changes in interest rates and other factors.

In 2019, the central governments three public financial allocation expenditure totaled 4.874 billion yuan, a decrease of 3.233 billion yuan compared with the budget, which was mainly due to the tight days of the central department, as well as the non implementation of some overseas (Overseas) and foreign affairs reception tasks due to business, resulting in a decrease in related expenditures.

Six major areas supported by the central government

Last year, the central government spent more than 10 trillion yuan. Where did the money go?

According to the final accounts report, the central financial fund has focused on supporting six major areas.

The first is to support the implementation of the tax reduction and fee reduction policy of 2.36 trillion yuan last year. In addition to this reduction, the central government also increased financial support to local governments to make up for the reduction caused by large-scale tax reduction.

The second is spent in three major battles. For example, in terms of poverty alleviation, the central government subsidized 126.1 billion yuan, an increase of 18.9%.

Third, we will support deepening supply side structural reform. For example, in order to promote the construction of scientific and technological innovation capacity, the general public budget of the central government at the same level spent 351.618 billion yuan on science and technology, an increase of 12.5%, and supported the improvement of scientific and technological support capacity and the acceleration of key scientific and technological projects.

Then it is to promote the expansion of investment consumption demand. For example, last year, the central government issued 577.6 billion yuan of investment funds in the budget, focusing on supporting affordable housing projects, three rural construction, major infrastructure construction and other aspects.

In addition, the central finance vigorously promotes the development of urban and rural areas. For example, the central transfer payment funds focus on the central and western regions and difficult areas, so as to further enhance the level of equalization of basic public services among regions.

Finally, the central government invested in the field of peoples livelihood security. For example, in order to support employment, the central government spent 53.9 billion yuan on employment subsidies, an increase of 14.9%.

What is the focus of the central financial funds in 2020? According to the report, the funds are mainly used to support the three key battles, stabilize employment, protect peoples livelihood, support the rescue of market players, and strengthen the bottom line of Three Guarantees at the grassroots level.

Clear key tasks of financial management in 2020

Too tight. Under the impact of this years epidemic, the fiscal revenue has fallen sharply, and the government needs to tighten up and spend more money on the main market. At the same level, the central government should reduce non urgent and non rigid expenditures by more than 50%, and require local governments to reduce general expenditures. In the near future, the local government will continue to increase the code on the basis of the reduction of the pressure at the beginning of the year to reduce unnecessary expenditures. Improve the quality and efficiency of budget implementation. In short, you cant spend a cent if its not included in the budget. The money that should be given should be given as soon as possible, and the money that should be spent should be spent as soon as possible, so as to prevent the risk of payment. Strengthen the management of transfer payment. This year, a new special transfer payment (605 billion yuan) was set up to support local governments in implementing the task of six guarantees. In response to the uncertainties in the implementation, the funds should go directly to the city and county level, directly benefiting enterprises and the people. Deepen budget performance management. For example, this year, we will further explore the overall expenditure performance management of the central government, and carry out performance evaluation on government investment funds, government and social capital cooperation projects. Source: First Financial Editor: Yang Bin_ NF4368

Too tight. Under the impact of this years epidemic, the fiscal revenue has fallen sharply, and the government needs to tighten up and spend more money on the main market. At the same level, the central government should reduce non urgent and non rigid expenditures by more than 50%, and require local governments to reduce general expenditures. In the near future, the local government will continue to increase the code on the basis of the reduction of the pressure at the beginning of the year to reduce unnecessary expenditures.

Improve the quality and efficiency of budget implementation. In short, you cant spend a cent if its not included in the budget. The money that should be given should be given as soon as possible, and the money that should be spent should be spent as soon as possible, so as to prevent the risk of payment.

Strengthen the management of transfer payment. This year, a new special transfer payment (605 billion yuan) was set up to support local governments in implementing the task of six guarantees. In response to the uncertainties in the implementation, the funds should go directly to the city and county level, directly benefiting enterprises and the people.

Deepen budget performance management. For example, this year, we will further explore the overall expenditure performance management of the central government, and carry out performance evaluation on government investment funds, government and social capital cooperation projects.