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The Union Budget is the annual financial report of India; an estimate of income and expenditure of the government on a periodical basis. As per Article 112 of the Indian Constitution, it is a compulsory task of the government. The first budget of India was presented on April 7 1860 by Scotsman James Wilson.
The Union Budget of India, also referred to as the Annual Financial Statement in Article 112 of the Constitution of India is the annual budget of the Republic of India set by Ministry of Finance for the following financial year, with the revenues to be gathered by Department of Revenue to identify planned government spending and expected government revenue and the expenditures gathered by ...
The Union Budget is the annual financial report of India; an estimate of income and expenditure of the government on a periodical basis. As per Article 112 of the Indian Constitution, it is a compulsory task of the government. [3] The first budget of India was presented on 18 February 1860 by Scotsman James Wilson. [4]
Finance Minister Nirmala Sitharaman presented the Union Budget in the Lok Sabha on 1 February 2024 following the necessary approval from the President of India. During this presentation, the Finance Minister highlighted the crucial aspects of the document and justified the underlying thought process behind the proposed initiatives.
Schemes that the central government fully funds are referred to as "central sector schemes" (CS). In contrast, schemes mainly funded by the center and implemented by the states are "centrally sponsored schemes" (CSS). [1] In the 2022 Union budget of India, there are 740 central sector (CS) schemes. [2] [3] and 65 (+/-7) centrally sponsored ...
The Government of India allocated Rs. 2,23,846 crore in this financial year which is increase of 137% from the previous financial year, of which 35,000 crore rupees is allocated for Covid-vaccines, 64,180 crore rupees is allocated for PM Aatma Nirbhar Swasth Bharat Yojana and other announcements are -
The 2017 Union Budget of India is the [5] [6] [7] Annual Financial Statement (AFS) mandated by Article 112 of Constitution of India; Demands for Grants mandated by Article113 of Constitution of India; Appropriation Bill mandated by Article 114(3) of Constitution of India; Finance Bill mandated by Article110(a) of Constitution of India
The 2018 budget was considered to be a crucial one, [9] [10] [11] as it would be the first since the rollout of the Goods and Service Tax (GST) regime in India. [12] [13] [14] It was widely expected that the budget would either increase the exemption limit, or introduce a standard deduction for salaried people to reduce the tax burden, in addition to a reduction of the tax rate for the ₹ 5 ...