Indian Economy
Union budget of India
Annual budget of the Republic of India
Overview
The Union Budget of India, also known as the Annual Financial Statement under Article 112 of the Indian Constitution, is the country's annual financial plan prepared by the Ministry of Finance. It outlines the government's expected revenues, collected by the Department of Revenue, and planned expenditures, managed by the Department of Expenditure. The budget serves as a financial blueprint for the upcoming fiscal year, forecasting economic conditions and aligning the Government of India's spending with its policy objectives.
Source: Wikipedia — Union budget of India (CC BY-SA)
Key concepts
How Union budget of India connects to the ideas, people and events around it.
The Constitution of India is the supreme legal document of India, and the longest written national constitution in the world.
The Ministry of Finance is a ministry of the Government of India concerned with the economy of India, serving as the Treasury of India.
The Government of India is the national authority of the Republic of India, established in accordance with the Constitution of India.
The Parliament of India is the supreme legislative body of the Republic of India. It is a bicameral legislature composed of the Rajya Sabha and the Lok Sabha.
The Lok Sabha, also known as the House of the People, is the lower house of the bicameral Parliament of India, where the upper house is Rajya Sabha.
A fiscal year is a one-year time interval whose beginning and end may be shifted with respect to the calendar year .
Parliament House is the seat of the Parliament of India, located in New Delhi. It houses the Lok Sabha and the Rajya Sabha, which are the lower and upper houses respectively in India's bicameral parliament.
DD National is an Indian state-owned entertainment television channel, founded by the Government of India, owned by the Ministry of Information and Broadcasting. It is the flagship channel of Doordarshan, launched on 15 September 1959.
Revise Union budget of India
Flashcards and a quick quiz, built from this map.
Questions about Union budget of India
What is Union budget of India?
The Union Budget of India, also known as the Annual Financial Statement under Article 112 of the Indian Constitution, is the country's annual financial plan prepared by the Ministry of Finance. It outlines the government's expected revenues, collected by the Department of Revenue, and planned expenditures, managed by the Department of Expenditure.
What are the key concepts related to Union budget of India?
The main concepts connected to Union budget of India include Constitution of India, Ministry of Finance (India), Government of India, Parliament of India, Lok Sabha, Fiscal year, Parliament House, New Delhi, DD National. Each is linked on the map above with its own summary.
Which exams cover Union budget of India?
Union budget of India is part of Indian Economy, which appears in the syllabus of UPSC CSE, UPSC CAPF, NDA, CDS, AFCAT, SSC CGL and 58 more exams.