The term Budget is a generic statement given to a number of documents, which includes the Annual Financial Statement. Article 112 makes it a constitutional obligation upon the Government to lay a statement of the estimated receipts and expenditures in the Parliament. The Government fulfils this duty through its Annual financial statement, which is contained…
Topic: GS3 – Indian Economy – Government Budgeting. Importance of This Topic from UPSC Perspective: In UPSC’s General Studies Paper 3, the topic of Government Budgeting in the Indian Economy is crucial.It assesses candidates’ understanding of fiscal policies, resource allocation, and economic priorities. A sound grasp of this topic is essential for comprehending the country’s economic…
Primary Source: PIB The Budget document presented by our finance Minister on 23rd July 2024 was the first budget presented in the 18th Lok Sabha after the conduct of recent swearing in. the Previous budget presented in the starting of this year was an interim budget presented by the Previous government. Stages of a Budget…