Budget: Know... how the budget is prepared? । Learn some interesting things about budgeting.
બજેટ: જાણો...બજેટ કેવી રીતે તૈયાર થાય છે? । જાણો બજેટની કેટલીક રસપ્રદ વાતો.
⇒ What is a budget?
Detailed information of total expenditure and revenue determined by the government for a financial year is called budget. When the revenue determined in a year is equal to the current expenditure, it is called a balanced budget. When the central government spends more than revenue, it is called revenue loss. When the total expenditure in a financial year exceeds the annual income, it is called a fiscal deficit. This does not include debt.
💥 બ્રેકિંગ ન્યૂઝ : 👇
💥 રાજ્યમાં તારીખ: ૦૭/૦૨/૨૦૨૨, સોમવારથી સ્કૂલોમાં ધોરણ 1 થી 9 નું ઓફલાઈન શિક્ષણ શરૂ થશે.
💥 સરકારે કોરોનાના કેસમાં ઘટાડો થતાં નિર્ણય લીધો.
⇒ How is the budget prepared?
The budget is prepared by the Ministry of Finance, and its exercise starts from September.
⇒ How is the budget approved, and how is it implemented?
After the copy of the budget is ready, the finance minister presents it in the Lok Sabha.
A copy of the budget is given to all MPs. After being introduced in the Lok Sabha, it is debated in both the Houses of Parliament and then sent to the President for approval. With their approval, the way is paved for the implementation of the budget.
⇒ What is revenue deficit?
If the expenditure incurred by the government is more than the revenue generated by the government in a year, it is called revenue deficit. If the expenditure is less than the revenue then it is called surplus budget.
⇒ How long can a finance minister's budget speech be?
Budget speeches typically range from 10 minutes to 120 minutes long.
The finance minister presents the budget at 11 a.m. and begins reading his budget speech.
When does budget implementation begin, and how long does it last?
⇒ When does budget implementation begin, and how long does it last?
India's fiscal year begins on April 1, and ends on March 31. Thus, the implementation of the budget also starts and ends on the same date.
⇒ About The BUDGET :
- The budget is presented in the lower house of Parliament, the Lok Sabha. This is where the finance minister gives his budget speech.
- The government cannot present a full budget if its term is to expire before March 31. It presents an interim budget, and during the completion of this budget, the newly elected government presents the full budget.
- The income received by the government from various sources is called revenue income. Most of which is earned through taxes. The government plans the expenditure on the basis of this income.
- India ranks third in defense spending. India spent Rs 3.59 lakh crore on defense in 2017-18, Rs 4,04,365 crore in 2018, Rs 4,31,011 crore in 2019 and Rs 4,71,378 crore in 2020.
- In the new financial year, the government wants to give more importance to development works, details of tax, revenue and expenditure as well as the budget allocated to various ministries are given in the budget speech.
- In last year's budget, an exemption of Rs 1.5 lakh was given under section 80C. The maximum benefit of this exemption is borne by the salaried class.
- Finance Minister Nirmala Sitharaman presented last year's budget on February 1, 2020, with a proposed size of Rs 30.42 lakh crore.
- In the 2020-21 budget, the central government had allocated Rs 1281.97 crore for Make in India.
- Here are some interesting facts about India's Union Budget:
- The word budget has French origin. It is derived from the old French word bougainvillea, which means "small leather purse."
- The first Union Budget was introduced in 1860 by the Scottish economist and politician James Wilson.
- The first Union Budget of Independent India was presented by RK Shanukham Chetty, the first Finance Minister of India on November 26, 1947. Until 1955, the Union Budget was published only in English. However, this changed in 1955-56 when the government started publishing it in both English and Hindi.
- When Jawaharlal Nehru was handling the finance portfolio in 1958-59, he was the first Prime Minister to present a budget.
- Former Prime Minister Indira Gandhi was the first woman to present a budget in India.
- Former Finance Minister Morarji Desai holds the record for presenting the highest number of 10 budgets, followed by P Chidambaram and Pranab Mukherjee.
- In 2017, the Rail Budget was merged with the Union Budget and since then, the budget was presented on February 1 following the changes introduced by the then Finance Minister Arun Jaitley.
- In 2019, Nirmala Sitharaman abandoned the traditional budget briefcase, instead carrying a red packet with the national emblem wrapped in ribbon.
- This time, Nirmala Sitharaman is the first full-time woman finance minister to present Budget 2022.
Learn Budget 2022 (જાણો બજેટ 2022)
⇒ Important link:
વર્ષ 2022/2023 ના બજેટની સૌથી મોટી જાહેરાતો, જુઓ ક્યા સેક્ટરને શું મળ્યું?
Thank you for visiting: Latest Government as well as Private Job at www.rkgoyalcreation.blogspot.com. Recruitment Result, Answer Key, Paper Solutions, Merit List, Hall Ticket, Call Letter, CCC Exam Information as well as Exam Literature, Circulars, Study Material, School Related Keep visiting our site every day for forms and information, all kinds of updates, PDFs, files, etc ...
You will keep visiting www.rkgoyalcreation.blogspot.com. And tell your friends about www.rkgoyalcreation.blogspot.com.
Get the latest updates in your mobile for all education updates, government and private jobs, general knowledge, study materials for all competitive exams.
Join the WhatsApp Group 📊 The Knowledge Zone 📊 group via the following link to get the latest updates on your mobile. Also subscribe to 📊 The Knowledge Zone 📊 on telegram channel.
Your feedback is required.
No comments:
Post a Comment