India Budget

Overall Rating: star ratingstar ratingstar ratingstar ratingstar rating[5/5]Total Votes [ 5 ]  
Rate this page:

Interim Rail Budget 2014-15

Interim Budget 2014

Planning the India budget and presenting it in front of the entire country, is a real tough task for the Finance Minister when all eyes are set on him. India Budget reviews all Government accounts and then ensures that all the expenditures fall within the periphery of the Indian Parliament act and rules.

Moreover, the India Budget reviews the allocated funds of the previous budget and whether they have been properly utilized. Any proposals or recommendations regarding tax or expenditure can be put forward by the Finance Minister. The India budget is presented, wiping all apprehensions, on the last day of February before the full house of the Indian Parliament.

What is India budget?
India Budget is a detail of projected 'expenditure' and 'income' of the Government if India. It then gets scrutinized by the members of the Parliament and then finally the India Budget holds good with effect from the 1st day of April (1st day of the new financial year).

Components of India Budget -
  • Plan and Non-plan Expenditure
  • Revenue and fiscal deficit
  • Developments in agriculture
    • Farm credit
    • Irrigation
  • Transport
  • Railways
  • Subsidies
  • Banking system, Insurance, Agricultural Insurance, National Bank for Agriculture and Rural Development, Regional Rural Banks, Housing loans, Exclusive health insurance, Capital market
  • Urban and Rural Infrastructure Development
  • Industry
  • SMEs
  • Gross domestic capital, Foreign direct investment and Portfolio investment
  • Central Public Sector Enterprises
  • Budgetary resources
  • Outstanding credit
  • Foreign Trade and Merchandise exports
  • Differential rate of interest
  • Defense expenditure
  • Education
  • Water
  • Health care
  • Environmental matters
  • Physically challenged persons
Ahead of the India budget, the Government comes out with the Economic Survey, showing the economic trends in the country. Due to this, the resources can be better mobilized and allocated in a better manner in the budget. The Economic Survey studies and analyses the trends in agricultural and industrial production, infrastructure, employment, money supply, prices, imports, exports, foreign exchange reserves and other economic factors.

One should remember that the India budget by the Central Government is just not a statement of receipts and payments. The India budget is surely a tool to shape and direct the economic life the country.

Last Updated on 3/15/2012