The national debt of the United States is the total national debt owed by the federal government of the United States to Treasury security holders. The national debt at any point in time is the face value of the then-outstanding Treasury securities that have been issued by the Treasury and other federal agencies. The terms "national deficit" and "national surplus" usually refer to the federal government budget balance from year to year, not the cumulative amount of debt. In a deficit year the national debt increases as the government needs to borrow funds to finance the deficit, while in a surplus year the debt decreases as more money is received than spent, enabling the government to reduce the debt by buying back some Treasury securities. In general, government debt increases as a result of government spending and decreases from tax or other receipts, both of which fluctuate during the course of a fiscal year. There are two components of gross national debt:
The military budget of China is the portion of the overall budget of China that is allocated for the funding of the military of China. This military budget finances employee salaries and training costs, the maintenance of equipment and facilities, support of new or ongoing operations, and development and procurement of new weapons, equipment, and vehicles. Every March, as part of its annual state budget, China releases a single overall figure for national military expenditures.
The United States budget comprises the spending and revenues of the U.S. federal government. The budget is the financial representation of the priorities of the government, reflecting historical debates and competing economic philosophies. The government primarily spends on healthcare, retirement, and defense programs. The non-partisan Congressional Budget Office provides extensive analysis of the budget and its economic effects. CBO estimated in February 2024 that Federal debt held by the public is projected to rise from 99 percent of GDP in 2024 to 116 percent in 2034 and would continue to grow if current laws generally remained unchanged. Over that period, the growth of interest costs and mandatory spending outpaces the growth of revenues and the economy, driving up debt. Those factors persist beyond 2034, pushing federal debt higher still, to 172 percent of GDP in 2054.
The Ministry of Defence (MoD) is charged with coordinating and supervising all agencies and functions of the government relating directly to national security and the Indian Armed Forces. The President of India is the ceremonial commander-in-chief of the armed forces of the country. The Ministry of Defence provides policy framework and resources to the armed forces to discharge their responsibility in the context of the country's defence. The Indian Armed Forces and Indian Coast Guard under the Ministry of Defence are primarily responsible for ensuring the territorial integrity of India.
The 2010 Union budget of India was presented by Finance minister Pranab Mukherjee in the Lok Sabha on Friday, February 26, 2010.
The federal budget of Russia is the leading element of the budget system of Russia. The federal budget is a major state financial plan for the fiscal year, which has the force of law after its approval by the Russian parliament and signed into law by the President of Russia. That the federal budget is the primary means of redistribution of national income and gross domestic product through it mobilized the financial resources necessary to regulate the country's economic development, social policy and the strengthening of the national defense. The share of federal budget accounts for a significant portion of the distribution process, which is the allocation of funds between sectors of the economy, manufacturing and industrial areas, regions of the country.
The 2013 Union Budget of India was presented by Finance Minister, P. Chidambaram on 28 February 2013, 11 AM.
The military budget of Russia is the portion of the overall budget of Russia that is allocated for the funding of the Russian Armed Forces. This military budget finances employee salaries and training costs, the maintenance of equipment and facilities, support of new or ongoing operations, and development and procurement of new weapons, equipment, and vehicles. According to estimates for the 21 years from 2000, Russia increased its military budget from $9.23bn to $65.9bn, or more than 600 percent. Moscow spends more on the military than any country of the European Union.
The defence industry sector of India is a strategically important sector in India. India has one of the world's largest military forces with a strength of over 1.44 million active personnel. The country has the world's largest volunteer military of over 5.1 million personnel. The total budget sanctioned for the Indian military for the financial year 2021 is ₹4.78 lakh crore. It has the third largest annual defence budget behind USA and China. It is the second largest defence importer behind Saudi Arabia making up 9.2% of global arms import. India has a domestic defence industry of which 60% is government owned. The public sector includes NTRO, CSIR, PRL, DRDO and its 50 labs, 4 defence shipyards, 12 defence public sector undertakings (PSUs). India has a new defence procurement, acquisition and manufacturing policy to reduce imports and enhance domestic manufacturing.
Defence pensions are pensions paid from the Defence Services Estimates. Approximately 36 percent of amount budgeted for defence pensions is on account of defence civilians. The Defence pension bill for 2015–2016 was ₹ 54,500 crores, including pension outlay for about 400,000 defence civilians, and about Rs1000 Crores on account of allowances and establishment of Ministry of Finance personnel attached to MOD. On an average a defence civilian pensioners cost five times lesser than military pensioner. The per capita expenditure on defence civilians is approximately Rs. 5.38 Lakhs annually, in comparison with ₹ 1.38 Lakhs a year for defence pensioners paid from the defence services estimates. The per capita bill on account of defence civilian pensioners is higher mainly because they serve longer, reach the highest grades in the pay scales, are eligible for One Rank, One Pension (OROP) pensions, and are and host of allowance]. As of August 2021, SPARSH(Raksha) Pension Administration has been established under DBT(Direct Benefit Transfer) to reduce the Grievances of the Pensioners & to increase transparency Payment to Pensioners.
The 2017 Union Budget of India is the
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 Defence Planning Committee is a senior decision-making organisation created on 19 April 2018 by the Government of India.
The Estimates Committee (India) is a committee of selected members of parliament, constituted by the Parliament of India (the Lok Sabha), for the purpose of scrutinising the functioning of government ministries and departments in terms of expenditure and utilisation of funds. It also suggests alternative policies in order to bring about efficiency and economy in administration. It also examines whether the finances are laid out within the limits of the policy implied in the estimates and also to suggest the form in which the estimates shall be presented to Parliament. This committee along with the Public Accounts committee(PAC) and Committee on Public Undertakings (COPU) are the three financial standing committees of the Parliament of 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.
The economic impact of the COVID-19 pandemic in India has been largely disruptive. India's growth in the fourth quarter of the fiscal year 2020 went down to 3.1% according to the Ministry of Statistics. The Chief Economic Adviser to the Government of India said that this drop is mainly due to the coronavirus pandemic effect on the Indian economy. Notably, India had also been witnessing a pre-pandemic slowdown, and according to the World Bank, the current pandemic has "magnified pre-existing risks to India's economic outlook".
The Pradhan Mantri Matsya Sampada Yojana (PMMSY)(http://pmmsy.dof.gov.in/) is an initiative launched by the Government of India to establish a comprehensive framework and reduce infrastructural gaps in the fisheries sector. The scheme was announced by the Finance Minister, Nirmala Sitharaman during her speech in the parliament of India while presenting the Union budget for 2019–20 on 5 July 2019. The government intends to place India in the first place in Fish production and processing by implementing Neeli Kranti (transl. Blue Revolution). This scheme is in line with governments aim to double the farmers' income by 2022–23.
Atmanirbhar Bharat, which translates to 'self-reliant India', is a phrase the Prime Minister of India Narendra Modi and his government used and popularised in relation to the country's economic development plans. The phrase is an umbrella concept for the Modi government's plans for India to play a larger role in the world economy, and for it to become more efficient, competitive and resilient.
The 2021 National budget of Bangladesh was presented by the Minister of Finance Mustafa Kamal on 3 June 2021. The National budget is for the fiscal year beginning on 1 July 2021, and ending on 30 June 2022. The budget was the second to be presented amid the Coronavirus pandemic.
The 2022 National budget of Bangladesh was presented by the Minister of Finance AHM Mustafa Kamal on 9 June 2022. The National budget is for the fiscal year beginning on 1 July 2022, and ending on 30 June 2023. The budget was the 14th presented by the Awami League-led Grand Alliance of Prime Minister Sheikh Hasina since returning to office in 2009. The budget was the third to be presented since the outbreak of the COVID-19 pandemic and focused primarily on economic recovery from the pandemic and ameliorating the impact of rising inflation as a result of the Russia-Ukraine conflict.
