Arun Jaitley was an Indian politician and attorney. A member of the Bharatiya Janata Party, Jaitley served as the Minister of Finance and Corporate Affairs of the Government of India from 2014 to 2019. Jaitley previously held the cabinet portfolios of Finance, Defence, Corporate Affairs, Commerce and Industry, and Law and Justice in the Vajpayee government and Narendra Modi government.
The Government of India, known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, consisting of 28 union states and eight union territories. Under the Constitution, there are three primary branches of government: the legislative, the executive and the judiciary, whose powers are vested in a bicameral Parliament, President, aided by the Council of Ministers, and the Supreme Court respectively. Through judicial evolution, the Parliament has lost its sovereignty as its amendments to the Constitution are subject to judicial intervention. Judicial appointments in India are unique in that the executive or legislature have negligible say.
The Union Budget of India, also referred to as the Annual Financial Statement in Article 112 of the Constitution of India, is the annual budget of the Republic of India. The Government presents it on the first day of February so that it could be materialised before the beginning of new financial year in April. Until 2016 it was presented on the last working day of February by the Finance Minister in Parliament. The budget division of the department of economic affairs (DEA) in the finance ministry is the nodal body responsible for producing the budget. It is presented by means of the Finance bill and the Appropriation bill has to be passed by Lok Sabha before it can come into effect on 1 April, the start of India's financial year.
Mahatma Gandhi National Rural Employment Guarantee Act 2005 or MNREGA, earlier known as the National Rural Employment Guarantee Act or NREGA, is an Indian labour law and social security measure that aims to guarantee the 'right to work'. This act was passed in 23 August 2005 under the UPA government of Prime Minister Manmohan Singh following tabling of the bill in parliament by the Minister for Rural Development Raghuvansh Prasad Singh.
The Foreign Investment Promotion Board (FIPB) was a national agency of Government of India, with the remit to consider and recommend foreign direct investment (FDI) which does not come under the automatic route. India attract net inward foreign direct investment amounting to USD 30.76 billion during the fiscal year ended March 2014, a 14.13% increase compared to the previous fiscal year. acted as a single window clearance for proposals on foreign direct investment (FDI) in India. The Foreign Investment Promotion Board (FIPB) was housed in the Department of Economic Affairs, Ministry of Finance. FIPB was abolished on 24 May 2017, as announced by Finance Minister Arun Jaitley during 2017-2018 budget speech in Lok Sabha.
The Ministry of Finance is a ministry within the Government of India concerned with the economy of India, serving as the Treasury of India. In particular, it concerns itself with taxation, financial legislation, financial institutions, capital markets, centre and state finances, and the Union Budget.
The 2010 Union budget of India was presented by Finance minister Pranab Mukherjee in the Lok Sabha on Friday, February 26, 2010.
The 2013 Union Budget of India was presented by Finance Minister, P. Chidambaram on 28 February 2013, 11 AM.
The Wealth Tax Act, 1957 was an Act of the Parliament of India that provides for the levying of wealth tax on an individual, Hindu Undivided Family or company. The wealth tax was levied on the net wealth owned by a person on a valuation date, i.e., 31 March of every year. The Act applies to the whole of India. The application of the Act has been discontinued since 1 April 2016.
The Income Tax Department is a government agency undertaking direct tax collection of the government of India. It functions under the Department of Revenue of the Ministry of Finance. The Income Tax Department is headed by the apex body Central Board of Direct Taxes (CBDT). The main responsibility of the Income Tax Department is to enforce various direct tax laws, most important among these being the Income-tax Act, 1961, to collect revenue for the government of India. It also enforces other economic laws such as the Benami Transactions (Prohibition) Act, 1988, and the Black Money Act, 2015.
The Budget of Delhi, India for 2014–2015 was presented by Arun Jaitley the Finance Minister of India on 18 July 2014 in Lok Sabha. The total Budget estimate for the Government of NCT of Delhi for the year 2014-15 is Rs. 36766 crore.
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.
Goods and Services Tax (GST) is a successor to VAT used in India on the supply of goods and services. GST is a digitalized form of VAT where you can also track the goods & services. Both VAT and GST have the same taxation slabs. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes. Multi-staged as it is, the GST is imposed at every step in the production process, but is meant to be refunded to all parties in the various stages of production other than the final consumer and as a destination-based tax, it is collected from point of consumption and not point of origin like previous taxes.
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 Aadhaar Act, 2016 is a money bill of the Parliament of India. It aims to provide legal backing to the Aadhaar unique identification number project. It was passed on 11 March 2016 by the Lok Sabha. Certain provisions of the Act came into force from 12 July 2016 and 12 September 2016.
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 2019 Interim Union Budget of India was presented by acting Finance Minister Piyush Goyal on 1 February 2019. The government introduced Pradhan Mantri Kisan Samman Nidhi and Pradhan Mantri Shram Yogi Mandhan.
The All India Institutes of Medical Sciences (AIIMS) is a group of autonomous government public medical universities of higher education under the jurisdiction of Ministry of Health and Family Welfare, Government of India. These institutes have been declared by an Act of Parliament as Institutes of National Importance. AIIMS New Delhi, the forerunner institute, was established in 1956. Since then, 24 more institutes were announced. As of January 2023, twenty institutes are operating and four more are expected to become operational until 2025. Proposals were made for six more AIIMS.
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.
The 2021 Union Budget of India was presented by the Minister of Finance on the 1st of February, 2021. The budget is the first one to be presented orally due to ongoing COVID pandemic.
