积极的财政政策如何发力？预算报告给出四点线索

Core Viewpoint - The government is implementing a more proactive fiscal policy, with a proposed deficit rate of around 4% and a deficit scale of 5.66 trillion yuan, marking an increase of 1.6 trillion yuan from the previous year [1][3]. Group 1: Significant Fiscal Expansion - The broad fiscal policy is significantly expanding, with the narrow deficit rate reaching 4% for the first time and the broad deficit scale expected to increase by 2.9 trillion yuan to 13.86 trillion yuan, resulting in a historical high broad deficit rate of 9.8% [3][4]. - The issuance of special government bonds is set at 1.8 trillion yuan, which could potentially boost GDP growth by approximately 0.5-1 percentage points [4]. Group 2: Decline in Non-Tax Revenue - The expected growth rate for general public budget revenue is only 0.1%, while expenditure is projected to grow by 4.4% [6]. - Non-tax revenue is anticipated to decrease by 14.2%, reflecting a significant reduction in its contribution to public finance [7][8]. Group 3: Optimization of Expenditure Structure - The expenditure structure is shifting towards education, social security, and healthcare, with budget growth rates for these areas set at 8.3%, 4.7%, and 5.0% respectively, all higher than traditional infrastructure spending [10][11]. - The government aims to invest more resources in human capital and social welfare to create a positive cycle of economic development and improvement in living standards [10]. Group 4: Significant Increase in Central Expenditure - The central deficit is arranged at 4.86 trillion yuan, an increase of 1.52 trillion yuan from last year, with 95% of the new deficit borne by the central government [13]. - The central government's leverage is being increased to boost confidence and demand, with a focus on investment and support for national consumption policies [13][14].