Accordingly while tabling the Budget, the Finance Minister tells the country about government’s revenues and expenditures, besides showing how the government plans to use public resources to meet policy goals. Meanwhile anywhere in the world, the annual budgetary exercise is important for the government to maintain fiscal discipline. The Budget has to be passed by the Parliament before it can come into effect on April 1, the start of India's financial year.
Meanwhile on the Budget day, the Finance Minister tables a bunch of documents on the floor of the Parliament. To cope up with these documents and terminologies, it is very important to understand the basics standards of these words.
Further as the government prepares to present the Union Budget, slated for
February 1, here we take a look at terminologies that will help the readers to
understand the Budget file of the Finance Minister. Finance Minister Presents
the following documents namely Annual Financial statement, Finance bill,
Appropriation bill, Fiscal policy strategy statement, Expenditure profile,
Expenditure budget, outcome of the budget and lot more.
