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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. [3] The first budget of India was presented on 18 February 1860 by Scotsman James Wilson. [4]
The 2024 Interim-Union Budget of India [1] provides comprehensive information regarding the projected revenue and government spending for the fiscal year 2024–25, commencing on 1 April 2024 and concluding on 31st March 2025. [2] [3] [4]
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 ...
2–3 July – 2024 India-Bangladesh floods: At least sixteen people are killed by floods and landslides in Assam and Arunachal Pradesh, while over 300,000 more are displaced. [106] [107] 5 July – A victory parade is held in Mumbai by the Indian cricket team following their victory in the 2024 ICC Men's T20 World Cup. [108] [109]
The defence budget of India was increased to ₹ 621,940 crore (US$72 billion) in the 2024-2025 union budget from ₹ 593,538 crore (US$69 billion) during last year. This year’s defence budget accounts for 1.89% of the country’s projected gross domestic product (GDP) for 2024-25. [15]
Budget (in crore rupees) FY Reference Andhra Pradesh ₹ 279,279 crore (US$32 billion) 2023-24 [1] Arunachal Pradesh ₹ 29,657 crore (US$3.4 billion) 2023-24 [2] Assam ₹ 321,000 crore (US$37 billion) 2023–24 [3] Bihar ₹ 261,885 crore (US$30 billion) 2023–24 [4] Chhattisgarh ₹ 121,500 crore (US$14 billion) 2023–24 [5] Delhi
2024 Interim-Union budget of India; 2024 Union budget of India; E. Economic survey of India; F. Finance Act (India) Fiscal Responsibility and Budget Management Act ...
A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money.