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1 February 2021: Submitted by: Nirmala Sitharaman (Minister of Finance) Submitted to: Parliament of India: Presented: 1 February 2021: Passed: 17 March 2021: Parliament: 17th : Party: Bharatiya Janata Party: Finance minister: Nirmala Sitharaman: Total revenue ₹ 31.67 trillion (US$370 billion) (23.4%) Total expenditures ₹ 37.7 trillion (US ...
The Union budget in 2020 was presented in a backdrop of a slowing down of the Indian economy with estimated GDP growth for 2019–20 being at an 11-year low of 5%. [1] Factors such as the IL&FS ( shadow banker , NBFC ) crisis contributed to the slowdown; [ 13 ] as well as international financial markets issues such as the China–United States ...
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 ...
A budget resolution for the 2021 fiscal year began to be considered by the 117th United States Congress in February 2021. As appropriations for the fiscal year had already been approved, the budget resolution's main purpose was to begin the budget reconciliation process to allow a COVID-19 pandemic relief bill to be passed without the possibility of being blocked by a filibuster.
The 2022 Union Budget of India was presented by the Minister of Finance Nirmala Sitharaman on 1 February 2022, as her fourth budget. This is the third budget of Narendra Modi-led NDA government's second term. The Economic Survey for 2021–2022 was released on 31 January 2022, a day before the budget. [2]
On its re-election the NDA government kept the military budget unchanged. However the actual expenditure exceeded the estimated amount and final defence spending for 2019–2020 stood at ₹ 448,820 crore (equivalent to ₹ 5.6 trillion or US$64 billion in 2023), [9] marking an increase of around 10% over the previous budget.
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In the budget, the fiscal deficit for 2019–20 will be 3.94% of GDP. The budget set aside ₹ 6,000 (US$72) for farmers having up to 2 hectares of land. The amount is available in 3 equal installments of Rs.2000 each under Pradhan Mantri Kisan Samman Nidhi.