Budget 2019 glossary: A layman's guide to understanding key terms
5 years, 6 months ago

Budget 2019 glossary: A layman's guide to understanding key terms

India Today  

Finance Minister Nirmala Sitharaman is all set to present the much-awaited Union Budget 2019 on July 5. Since the NDA government has returned to power, new finance minister Nirmala Sitharaman will announce the final annual report on expenditure and revenue plans for the financial year during her budget address. People often fail to understand key terms such as inflation, fiscal deficit, capital expenditure, revenue receipts, surplus budget, deficit budget, divestment, bad loans, balanced budget, and many more. A balanced budget, surplus budget and deficit budget A balanced budget is equivalent to an idealistic financial statement where the government’s estimated expenditure is equal to the revenue receipts in a financial year. Last but not least, a deficit budget denotes the situation where the estimated government expenditure exceeds the expected revenue receipts for a particular financial year.

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History of this topic

Education, welfare in focus of ₹2.94 lakh-cr Andhra budget
1 month, 4 weeks ago

Education, welfare in focus of ₹2.94 lakh-cr Andhra budget

Hindustan Times  

The Telugu Desam Party-led National Democratic Alliance government in Andhra Pradesh on Monday presented its first full-fledged budget of ₹2,94,427 crore for 2024-25, five months after coming to power. Finance minister Payyavula Kesav told the state legislative assembly that the budget included revenue expenditure of ₹2,35,916 crore and capital expenditure of ₹32,712 crore. The NDA government under chief minister N …

Karnataka Budget: No tax hike, borrowings cross ₹1 lakh crore in revenue deficit
10 months, 3 weeks ago

Karnataka Budget: No tax hike, borrowings cross ₹1 lakh crore in revenue deficit

The Hindu  

The total outlay of the Karnataka State budget for 2024-25 is pegged at ₹3,71,383 crore, as against a revised estimate of ₹3,12,708 crore for 2023-24. Karnataka Budget 2024-25: LIVE coverage While the Chief Minister has not increased any taxes, he has presented a revenue deficit budget with the net borrowings crossing ₹1 lakh crore, perhaps for the first time in …

Budget 2024: It’s tax buoyancy that shrank the deficit
11 months, 1 week ago

Budget 2024: It’s tax buoyancy that shrank the deficit

Live Mint  

A quick glance at the fiscal arithmetic reveals that there is no severe fiscal austerity proposed in the budget. Given nominal GDP growth of 10.5% and aggregate tax revenue growth of 11.5%, the government has met its fiscal deficit target through tax buoyancy, and not through severe public expenditure reduction. As against a 2023-24 Budget Estimate of ₹61,000 crore, the …

Budget 2023: Key terms in the budget explained
11 months, 1 week ago

Budget 2023: Key terms in the budget explained

Hindustan Times  

Union Finance Minister Nirmala Sitharaman is set to present the interim Budget 2024 in Parliament on February 1- the last budget before the country goes into general elections. Here are some important terms that you should understand to be able to comprehend the budget announcements better: Budget 2023: Union Finance Minister Nirmala Sitharaman is seen. Consolidated Fund The entire revenue …

Interim Budget 2024: Your guide for understanding all key terms
11 months, 4 weeks ago

Interim Budget 2024: Your guide for understanding all key terms

India Today  

Finance Minister Nirmala Sitharaman is scheduled to present the Interim Budget 2024 on February 1, 2024. Sitharaman is expected to address various financial indicators, including inflation, fiscal deficit, capital expenditure, revenue receipts, bad loans, and more, during the budget speech. Fiscal Deficit Fiscal deficit means when a government's total expenditure exceeds total revenue, excluding any external borrowings. It is extremely …

Revenue deficit of Andhra Pradesh crosses budget estimates in first quarter itself
1 year, 3 months ago

Revenue deficit of Andhra Pradesh crosses budget estimates in first quarter itself

The Hindu  

The statement on the quarterly review of the trends in receipts and expenditure in relation to the budget at the end of the first quarter of the 2023-24 financial year presents a grim picture of the State government’s finances. According to the report, the revenue deficit exceeded the budget estimates for the financial year 2023-24 in the first quarter itself. …

Govt meets 6.4% fiscal deficit target for FY23
1 year, 7 months ago

Govt meets 6.4% fiscal deficit target for FY23

Hindustan Times  

The Union government met its fiscal deficit target of 6.4% of the gross domestic product for 2022-23 on the back of robust tax revenue despite higher revenue expenditure, particularly on account of subsidies and interest payments, official data released on Wednesday showed. Fiscal deficit indicates government’s borrowing to meet the gap between revenue receipts in a particular financial year and …

Bihar govt. presents ₹2.61 lakh crore ‘revenue surplus Budget’ for fiscal 2023-24
1 year, 10 months ago

Bihar govt. presents ₹2.61 lakh crore ‘revenue surplus Budget’ for fiscal 2023-24

The Hindu  

Bihar Finance Minister Vijay Kumar Choudhary on February 28, 2023 tabled over ₹2.61 lakh crore ‘revenue surplus Budget’ in the State Assembly, while putting thrust on employment, health and education sectors. “In our estimated revenue arrangement this is a revenue surplus Budget in which the State’s growth rate will be above 10%,” he told mediapersons, after presenting the Budget for …

W.B. Budget for 2023-24 broadens welfare schemes, gives incentives to jobs
1 year, 10 months ago

W.B. Budget for 2023-24 broadens welfare schemes, gives incentives to jobs

The Hindu  

With an eye on the upcoming panchayat polls, the West Bengal government’s Budget for the year 2023-24 on Wednesday widened the ambit of social welfare schemes like Lakshmi Bhandar, added a new scheme providing death benefits for fishermen, promised financial assistance for micro-enterprise and allocated ₹3000 crore for rural road connectivity and repair of urban roads in the State. Minister …

Explained | Is the government on track on fiscal deficit targets?
1 year, 11 months ago

Explained | Is the government on track on fiscal deficit targets?

The Hindu  

The story so far: In the Union Budget for 2023-24, Finance Minister Nirmala Sitharaman chose the path of relative fiscal prudence and projected a decline in fiscal deficit to 5.9% of gross domestic product in FY24, compared with 6.4% in FY23. In Union Budget 2023-24, the fiscal deficit to GDP is pegged at 5.9% in FY24. The primary deficit, which …

Budget 2023: Know What Is Fiscal Deficit And How It Impacts Economy
1 year, 11 months ago

Budget 2023: Know What Is Fiscal Deficit And How It Impacts Economy

ABP News  

We are less than a week away from the announcement of the Union Budget 2023. Gross Primary Deficit = Gross Fiscal Deficit - Net interest liabilities Net interest liabilities consist of interest payments minus interest receipts by the government on net domestic lending. How Union Budgets See Fiscal Deficit In the Budget documents, the government gives accounts for Revenue Deficit, …

Budget 2023: Blue sheet, finance bill, fiscal deficit - understanding key Budget terms
1 year, 11 months ago

Budget 2023: Blue sheet, finance bill, fiscal deficit - understanding key Budget terms

India TV News  

Budget 2023: As India gears up for the presentation of the Union Budget Budget 2023, it is important to understand the language and jargon that is commonly used when discussing the country's financial plans. FAQs Q1: When is the Indian Union Budget presented? A: The Indian Union Budget is presented on the first day of February, by the Finance Minister …

Budget 2023: Where Does Government Spend Money, Understanding Expenditure
2 years ago

Budget 2023: Where Does Government Spend Money, Understanding Expenditure

ABP News  

In less than a month Union Finance Minister Nirmala Sitharaman is expected to present Union Budget 2023. Plan capital expenditure relates to the central government’s plan and central assistance for state and union territory plans. Budget 2023: Expenditure of Government of India Aside from these the central government also allocates a large portion of the Budgetary expenditure for centrally Capital …

India could trim spending for first time in 3 years: Report
2 years, 2 months ago

India could trim spending for first time in 3 years: Report

Live Mint  

Spending by the Indian government this fiscal year could be less than budgeted for the first time in three years, two sources with direct knowledge of the matter told Reuters, amid a push to meet a fiscal deficit target of 6.4% of gross domestic product. Total expenditure for the 2022/23 fiscal year that started on April 1 could come in …

Fiscal deficit touches 20.5% of annual target in April-July: official data
2 years, 4 months ago

Fiscal deficit touches 20.5% of annual target in April-July: official data

The Hindu  

The Central Government's fiscal deficit touched 20.5% of the annual target at the end of July 2022-23 against 21.3% a year ago, reflecting improvement in public finance, as per official data released on Wednesday. As per the data released by the Controller General of Accounts, the government's receipts, including taxes, stood at ₹7.85 lakh crore or 34.4% of the Budget …

A quick guide to make sense of budget numbers
2 years, 11 months ago

A quick guide to make sense of budget numbers

Live Mint  

The annual budget ritual in India follows a familiar script. On budget day, influential businessmen and ambitious economists outdo one another to provide the highest ‘ratings’ to the budget. One of the usual budget tricks is to state big hikes in percentage terms—say, a 25% hike in the rural development ministry outlay—and to state small hikes in absolute terms, such …

Understanding the formulation of the Budget
2 years, 11 months ago

Understanding the formulation of the Budget

The Hindu  

The story so far : With the economy still hurting from the pandemic, the Budget on February 1 is likely to address concerns around growth, inflation and spending. Since positive fiscal deficits indicate the amount of expenditure over and above revenue and non-debt receipts, it needs to be financed by a debt-creating capital receipt. Though both expenditure and revenue receipts …

Govt seen boosting budget spending on infrastructure
2 years, 11 months ago

Govt seen boosting budget spending on infrastructure

Live Mint  

India plans to raise spending on infrastructure in its annual budget next week to set the economy on a firmer footing, but fiscal constraints leave little chance of concessions for households hurting from the pandemic, officials said. Yet these are likely to be overshadowed by spending to beef up transport and healthcare networks, which analysts estimate could rise between 12% …

India's fiscal deficit in 2020-21 lower than expected
3 years, 7 months ago

India's fiscal deficit in 2020-21 lower than expected

The Hindu  

India recorded a fiscal deficit of 9.3% of GDP in 2020-21, 0.2% lower than the revised estimate of 9.5% of GDP, according to the Controller General of Accounts. Total revenue receipts turned out to be about ₹88,000 crore higher than estimated, driven largely by higher excise and customs collections, while total expenditure was ₹61,000 crore more than the revised estimate. …

The 10 most important things you need to know about the Budget
3 years, 11 months ago

The 10 most important things you need to know about the Budget

Live Mint  

MUMBAI: Finance minister Nirmala Sitharaman’s budget speech on Monday ran into 17,031 words. When one takes into account the fact that the government will be spending ₹8.1 trillion towards paying interest on its debt next year, against ₹6.93 trillion it will pay this year, net net, the real expenditure next year will actually come down. The government hopes to earn …

A Budget blueprint for difficult times
3 years, 11 months ago

A Budget blueprint for difficult times

The Hindu  

As the country prepares to enter a new financial year after an ominous and gloomy 2020-21, there are great expectations about green shoots and the shape of the economic recovery. Even as hundreds of millions of Indians were struggling with loss of jobs and MGNREGA work, India’s stock markets were exuberant and reached record levels. Rural jobs scheme | Getting …

Govt Should Have Clear Exit Strategy, Milestones Needed for Fiscal Consolidation: RBI
4 years, 4 months ago

Govt Should Have Clear Exit Strategy, Milestones Needed for Fiscal Consolidation: RBI

News 18  

The government should have a clear exit strategy and credible milestones for fiscal consolidation in the coming years, the Reserve Bank said on Tuesday in its annual report amid meeting the fiscal targets becoming more challenging due to the coronavirus pandemic. Based on information from 25 states, the general government fiscal deficit increased from 5.4 per cent of GDP in …

Fiscal Deficit Touches 83.2% of Budget Estimates at End-June due to Poor Tax Collection amid Lockdown
4 years, 5 months ago

Fiscal Deficit Touches 83.2% of Budget Estimates at End-June due to Poor Tax Collection amid Lockdown

News 18  

The country's fiscal deficit during the first quarter of this fiscal widened to Rs 6.62 lakh crore or 83.2 per cent of the budget estimates, mainly on account of poor tax collections due to the coronavirus lockdown. The government had pegged the fiscal deficit for 2020-21 at Rs 7.96 lakh crore or 3.5 per cent of the GDP in the …

Nirmala Sitharaman unveils Budget aimed at boosting incomes; introduces alternative tax regime to simplify taxation; full text of her speech
4 years, 11 months ago

Nirmala Sitharaman unveils Budget aimed at boosting incomes; introduces alternative tax regime to simplify taxation; full text of her speech

Firstpost  

Finance Minister Nirmala Sitharaman on Saturday unveiled the budget for fiscal 2020-21, vowing to boost income of Indians and their purchasing power, in a bid to revive domestic economic growth that has slumped Finance Minister Nirmala Sitharaman on Saturday unveiled the budget for fiscal 2020-21, vowing to boost income of Indians and their purchasing power, in a bid to revive …

Budget 2020: Govt likely to raise spending to revive economic growth
4 years, 11 months ago

Budget 2020: Govt likely to raise spending to revive economic growth

India Today  

Prime Minister Narendra Modi's government is expected to raise spending on infrastructure and cut some personal tax in its 2020/2021 budget, to spur consumer demand and investment, government sources and economists said. Economists and investors say fiscal stimulus in the budget for the year beginning April 1 and an increase in spending on roads, railways and rural welfare could revive …

Union Budget 2020: Terminology, glossary of frequently used terms
4 years, 11 months ago

Union Budget 2020: Terminology, glossary of frequently used terms

India TV News  

Finance Minister Nirmala Sitharaman is scheduled to present the Budget for the financial year 2020-21 on February 1. Under Article 112 of the Constitution, the government requires to present a statement of estimated receipts and expenditure in respect of every financial year in the Parliament. It also contains consolidated information about government schemes, such as centrally- Extra-governmental: Or "extra-budgetary", term …

Budget 2020 handbook: Your one-stop guide for key financial terms
4 years, 11 months ago

Budget 2020 handbook: Your one-stop guide for key financial terms

India Today  

Finance Minister Nirmala Sitharaman is all set to present the Union budget on February 1, 2020. Budget 2020: Why taxpayers may benefit from slowdown Individuals often struggle to understand key terms such as inflation, fiscal deficit, capital expenditure, revenue receipts, surplus budget, deficit budget, divestment, bad loans, a balanced budget, and many more. When a government’s total expenditure exceeds total …

Fiscal deficit hits 102% of Budget Estimate till Oct, exceeds full-year target
5 years, 1 month ago

Fiscal deficit hits 102% of Budget Estimate till Oct, exceeds full-year target

Live Mint  

New Delhi: The country's fiscal deficit hit 102.4% of 2019-20 Budget Estimate at ₹7.2 lakh crore at the end of October, government data showed on Friday. The fiscal deficit or the gap between expenditure and revenue was at ₹7,20,445 crore as on October 31, 2019, according to the data released by the Controller General of Accounts. The government has estimated …

New Maharashtra govt to face issue of high revenue deficit in state
5 years, 1 month ago

New Maharashtra govt to face issue of high revenue deficit in state

India TV News  

The widening revenue deficit of India's second most politically important state Maharashtra will now have to be monitored by the Sena-NCP-Congress government, which is set to take power on Thursday. The state government continues to record a revenue deficit during FY20 and was at Rs 20,293 crore, 35.6 per cent higher than a year ago. Revenue expenditure has been budgeted …

Fiscal deficit hits 93% of budget estimate at Rs 6.52 lakh crore till September-end
5 years, 2 months ago

Fiscal deficit hits 93% of budget estimate at Rs 6.52 lakh crore till September-end

Firstpost  

New Delhi: India’s fiscal deficit reached nearly 93 percent of the budget estimate at Rs 6.52 lakh crore at the end of September in the current financial year, government data showed on Thursday. The government has pegged the fiscal deficit for the current financial year at Rs 7.03 lakh crore, aiming to restrict the deficit at 3.3 percent of the …

Fiscal deficit touches Rs 4.32 lakh crore in Q1; reaches 61.4% of budget estimate for 2019-20
5 years, 5 months ago

Fiscal deficit touches Rs 4.32 lakh crore in Q1; reaches 61.4% of budget estimate for 2019-20

Firstpost  

New Delhi: The government’s fiscal deficit touched Rs 4.32 lakh crore for the June quarter, which is 61.4 percent of the budget estimate for 2019-20 fiscal. In absolute terms, the fiscal deficit or gap between expenditure and revenue was Rs 4.32 lakh crore during at June-end, as per the data released by the Controller General of Accounts on Wednesday. The …

Union Budget 2019-20: What does Budget deficit mean; three types of deficits on basis of receipts and expenditures
5 years, 6 months ago

Union Budget 2019-20: What does Budget deficit mean; three types of deficits on basis of receipts and expenditures

Firstpost  

Budgetary deficit is usually expressed as a percentage of GDP. If revenue expenses of the government exceed revenue receipts, it results in a revenue account deficit The Budget Deficit is the financial situation wherein the expenditures exceed the revenues. Following are the four types of budget deficits: 1) Revenue deficit 2) Fiscal deficit 3) Primary deficit 4) Monetised deficit. The …

Union Budget 2019: Why annual financial statement containing govt’s revenue and expenditure for a fiscal year is important – Firstpost
5 years, 6 months ago

Union Budget 2019: Why annual financial statement containing govt’s revenue and expenditure for a fiscal year is important – Firstpost

Firstpost  

The Union Budget is the annual financial statement that contains the government’s revenue and expenditure for a fiscal year The word budget comes from an old French word meaning purse. The Union Budget is the annual financial statement that contains the government’s revenue and expenditure for a fiscal year. A revenue budget comprises of all the revenue expenditure and receipts …

India’s budget math faces a tough challenge now
5 years, 6 months ago

India’s budget math faces a tough challenge now

Live Mint  

As with every other Union budget in the country, all eyes will focus on the fiscal deficit number that India’s new finance minister, Nirmala Sitharaman presents on 5 July in her maiden budget speech. The adjusted fiscal deficit calculations take into account the issuance of special bonds such as oil bonds, fertilizer bonds and Food Corporation of India bonds till …

Fiscal deficit crosses 134% of budget estimate at February-end on tepid growth in revenue collections
5 years, 9 months ago

Fiscal deficit crosses 134% of budget estimate at February-end on tepid growth in revenue collections

Firstpost  

New Delhi: The country’s fiscal deficit touched 134.2 percent of the full-year revised budgeted estimate at the end of February 2019, mainly due to tepid growth in revenue collections, official data showed on Friday. In absolute term, fiscal deficit for April-February 2018-19 was Rs 8.51 lakh crore as against the revised estimate of Rs 6.34 lakh crore for the entire …

Bond yields rise follow tax gifts, cash transfers announced in interim budget
5 years, 11 months ago

Bond yields rise follow tax gifts, cash transfers announced in interim budget

Live Mint  

India's 10-year government bond yield rose nearly 10 basis points on Friday as analyst expected government to face challenges in meeting its target for fiscal year 2020 after interim finance minister Piyush Goyal announced tax gift for middle class and cash transfer for farmers ahead of final elections due in May. An announcement of record borrowing plan at ₹7.04 trillion …

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