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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 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 ...
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]
Once the budget is approved, the use of funds from individual chapters is in the hands of government ministries and other institutions. Revenues of the state budget consist mainly of taxes, customs duties, fees, and other revenues. State budget expenditures cover the activities of the state, which are either given by law or the constitution.
The 2023 Union Budget of India was presented by the Minister of Finance of India on February 1, 2023. This was the fourth budget of Narendra Modi-led NDA government's second term, starting from 2020. The Economic Survey for 2022–2023 was released on January 31, 2023 before the budget.
Bankrate insight. If your total product revenue is $50 and the total production costs are $35, your gross profit would be $15. To find the gross profit margin, you’d do the following calculation ...
The defence budget of India was increased to ₹ 621,940 crore (US$75 billion) in the 2024-2025 union budget from ₹ 593,538 crore (US$71 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]
The Union Minister of Railways Shri Lalu Prasad giving finishing touches to the Railway Budget, 2004 - 2005 in New Delhi on July 5, 2004. Lalu Prasad Yadav, who remained Railways Minister from 2004 to May 2009, presented the railway budget 6 times in a row. In 2009, under his tenure a ₹ 108 billion (US$1.3 billion) budget was passed. [10]