A government budget is a projection of the government's revenues and expenditure for a particular period of time often referred to as a financial or fiscal year, which may or may not correspond with the calendar year. Government revenues mostly include taxes while expenditures consist of government spending. A government budget is prepared by the government or other political entity. In most parliamentary systems, the budget is presented to the legislature and often requires approval of the legislature. Through this budget, the government implements economic policy and realizes its program priorities. 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 budget in itself does not appropriate funds for government programs, hence need for additional legislative measures. The word budget comes from the Old French bougette.
Motoring taxation in the United Kingdom consists primarily of vehicle excise duty, which is levied on vehicles registered in the UK, and hydrocarbon oil duty, which is levied on the fuel used by motor vehicles. VED and fuel tax raised approximately £32 billion in 2009, a further £4 billion was raised from the value added tax on fuel purchases. Motoring-related taxes for fiscal year 2011/12, including fuel duties and VED, are estimated to amount to more than £38 billion, representing almost 7% of total UK taxation.
The Sampoorna Grameen Rozgar Yojana was a scheme launched by the Government of India to gain the objective of providing gainful employment for the rural poor. From 21 February 2003, EAS became an allocation-based scheme. The programme was implemented through the Panchayati Raj institutions.
Taxes in India are levied by the Central Government and the State Governments by virtue of powers conferred to them from the Constitution of India. Some minor taxes are also levied by the local authorities such as the Municipality.
Social security in India includes a variety of statutory insurances and social grant schemes bundled into a formerly complex and fragmented system run by the Indian government at the federal and the state level. The Directive Principles of State Policy, enshrined in Part IV of the Indian Constitution reflects that India is a welfare state. Food security to all Indians are guaranteed under the National Food Security Act, 2013 where the government provides highly subsidised food grains or a food security allowance to economically vulnerable people. The system has since been universalised with the passing of The Code on Social Security, 2020. These cover most of the Indian population with social protection in various situations in their lives.
Uttarakhand's gross state domestic product for 2024 is estimated at around $40 billion in current prices. Born out of partition of Uttar Pradesh, the new state of Uttarakhand is today around 13 percent of the GSDP of Uttar Pradesh state.
The 2010 Union budget of India was presented by Finance minister Pranab Mukherjee in the Lok Sabha on Friday, February 26, 2010.
The Pakistan federal budget of 2009–2010 has been prepared in accordance with the budgeting and accounting classification system that has been approved by the Government of Pakistan as an integral part of the New Accounting Model. This is the first year the federal budget is being prepared using the newly adopted Medium-Term budgetary Framework (MTBF). Under this method macro projections are made over a rolling 3-year budgetary horizon. This year, expenditure ceilings were issued to Ministries on recurrent budget after Cabinet's approval, in line with the Government's stated priorities.
The 2011 Union Budget of India was presented by Pranab Mukherjee, the Finance Minister of India on 28 February 2011. This budgetary proposals came into effect from 1 April 2011 to 31 March 2012.
The 2014 Union Budget of India was presented by Finance Minister, Arun Jaitley on 10 July 2014,11 am. This was the first budget of Narendra Modi led NDA government.
The 2015 Union budget of India refers to 2015–2016 Union budget of India. The beginning of the budget printing began on 19 February 2015 with the traditional halwa ceremony. From 20 February until the presentation of budget about 100 government employees remained locked up in the North Block of the Secretariat Building, New Delhi, which houses the budget printing press, to maintain secrecy. The budget was presented on 28 February by Finance Minister Arun Jaitley.
The 2016 Union budget of India is the annual financial statement of India for the fiscal year 2016–2017. It was presented before the parliament on 29 February 2016 by the Finance Minister of India, Arun Jaitley. The printing of the budget documents began with a traditional Halwa ceremony on 19 February 2016. For Budget 2016-17, the government invited suggestions from citizens through Twitter for the first time, even conducting a series of polls to gauge public priorities and expectations from the Budget.
The 2017 Union Budget of India is the
The Fourteenth Finance Commission of India was a finance commission constituted on 2 January 2013. The commission's chairman was former Reserve Bank of India governor Y. V. Reddy and its members were Sushma Nath, M. Govinda Rao, Abhijit Sen, Sudipto Mundle, and AN Jha. The recommendations of the commission entered force in April 2015; they take effect for a five-year period from that date.
The 2018 Union Budget of India was the annual financial statement (AFS), demand for grants, appropriation bill and finance bill of India for the financial year 2018–19.
The Nyuntam Aay Yojana was a proposed social welfare programme by the Indian National Congress in its 2019 general election manifesto. It promised that the party, if voted to power in the 2019 Indian general election, would enact a law under which it would distribute cash to the bottom 20 per cent of India's families in terms of wealth, as a minimum guarantee programme. These households would each receive up to ₹72,000 (US$860) a year, a program the Congress claimed would benefit 250 million people in India.
The 2020 Union Budget of India was presented by the Finance Minister, Nirmala Sitharaman on 1 February 2020, as her second budget. This is the second budget of Narendra Modi-led NDA government's second term. The Economic Survey for 2019–2020 was released on 31 January 2020, a day before the budget. Before the budget speech the report of the 15th Finance Commission was tabled by the Finance Minister.
Pradhan Mantri Garib Kalyan Anna Yojana is a food security welfare scheme announced by the Government of India on March 26 2020, during the COVID-19 pandemic in India. The program is operated by the Department of Food and Public Distribution under the Ministry of Consumer Affairs, Food and Public Distribution. But the nodal ministry is Ministry of Finance.The scale of this welfare scheme makes it the largest food security program in the world benefiting 81.35 crore in India.
The 2021 Union Budget of India was presented by the Minister of Finance on 1 February 2021. The budget is the first one to be presented orally due to ongoing COVID pandemic.
The New Tax Regime is a scheme of Income tax in India first proposed in Union Budget 2020–21. Subsequent Budget of FY2021-22 did not see any major announcements in this regime. During the Budget 2022–23, reports emerged that New Tax Regime was getting poor response and Government is considering to make it more attractive among the taxpayers.
(23.4%)