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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]
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.
According to India's budget in 2021-22, its direct overseas aid stood at ₹18,154 crore (US$2.4 billion). In the 2024 budget, the Indian government reduced its overall allocation for aid to foreign countries by 10%. For example, aid to the Maldives has been cut by 22% for the 2024-25 financial year. This reduction comes amid a diplomatic row ...
12 June – The Indian external affairs ministry issues a notice urging the Russian Government to quickly return all Indian nationals who are serving in the Russian army after two Indians recruited are killed in the war with Ukraine. [86] 14 June – 2024 Northeast India floods: Heavy rains and landslides kill six people across Sikkim. [87]
India has set up 'Indian Agency for Partnership in Development' as a part of Ministry of External Affairs (India) to channelize aid to recipient nations. An American social enterprise, Devex reported in 2013 that India has spent US$1 billion on foreign aid in 2012–13. Since 2009, the foreign aid had increased around 3.2 times annually. [3]
The Union Budget of India, also referred to as the Annual Financial Statement in Article 112 of the Constitution of India.It 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 ...
To enable better living and drive economic growth stressing on the need for people centric urban planning and development. It envisages a "Slum Free India" in which every citizen has access to basic civic infrastructure and social amenities. [70] By March 2024, 56,20,000 units had been delivered to beneficiaries. [71] Atal Pension Yojana
It is also responsible for India's representation at the United Nations and other international organizations, whilst expanding and safeguarding India's influence. [4] The Ministry of External Affairs also advises other Ministries of the Government of India and State Governments on pertinent international developments.