Bhagyashree Ghosh is teaching live on Unacademy Plus
Union Budget 2018-19 Highlights BY BHAGYASHREE GHOSH
Bhagyashree Ghosh 2017 UPSC Prelims qualified 2014 IBPS PO upto Interview Hobbies: Teaching, Writing ebooks f unacademy Follow link- https://Unacademy.com/user/bhghosh93
Course Overview To discuss the highlights of the Union Budget Each and every important factor will be considered Language used: Hinglish (ie combination of both Hindi and English) Terms used in English but explanation in Hindi Important terms will be explained along with
Targeted Learners Bank PO/Clerical aspirants Insurance exam CLAT/UPSC/SSC/PCS Anyone who wants to stay updated with the Union Budget headlines
Important facts about Union Budget The Union Budget of India, also referred to as the Annua/financial statement in the 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 materialized before the commencement of new financial year in April. Till 2016 it was presented on the last working day of February by the Finance Minister of India in Parliament The budget, which is presented by means of the Finance bill and the Appropriation bill has to be passed by both the Houses before it can come into effect from April 1, the start of India's financial year.
An Interim Budget is not the same as a Vote on Account, While a 'Vote on Account' deals only with the expenditure side of the government's budget, an Interim Budget is a complete set of accounts, including both expenditure and receipts. An Interim Budget gives the complete financial statement, very similar to a full Budget. While the law does not debar the Union government from introducing tax changes, normally during an election year, successive governments have avoided making any major changes in income tax laws during an Interim Budget.
As of September 2017, Morari Desai has presented 10 budgets which is the highest followed by P Chidambaram's 9 and Pranab Mukheriee's 8. Yashwant Sinha, Yashwantrao Chavan and C.D. Deshmukh have presented 7 budgets each while Manmohan Singh and TT. Krishnamachari have presented 6 budgets. Finance Minister Arun Jaitley is presenting the fourth budget in the Parliament on Thursday. This is the last full Budget of the Prime Minister Narendra Modi's government before the country goes to poll in 2019. In 2017, the railway budget was presented along with the Union Budget, breaking a 92-year-old practice. Budget 2018 will be presented by Finance Minister Arun Jaitley on February 1.
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