Moneypedia

Union Budget 2019: What is Halwa ceremony? When is it held and what is its significance?

As part of the ritual, halwa is prepared in large quantities and served to the officers and support staff involved.

Can mutual funds help create wealth for your future? Long-term investment in SIPs in small amounts makes it possible

All the mutual funds have an element of risk attached to them as they invest in market-related instruments.

Union Budget 2019: India's income tax base not wide in proportion to population; taxpayers' number rises in past 5 years

Tax slabs serve as the threshold limit beyond which a person needs to pay a specific rate of tax to the government.

Union Budget 2019: Customs duty, a major source of govt revenue; helps keep imports under check, protect domestic industries

Customs duty in India comes under the Customs Act 1962 and Customs Tariff Act of 1975.

Union Budget 2019: From 1973 ‘Black Budget’ to 1997 “Dream Budget’, a look back at key Budgets in last 7 decades

The Budget is remembered for the introduction of Wealth Tax, which remained in some form or the other for the next six decades.

Union Budget 2019: Corporation tax is one of the biggest source of direct taxation for the central govt

Corporations with a net income of over Rs 10 crore need to pay a 12 percent surcharge.

Union Budget 2019: People in poverty trap must be given adequate aid to get rid of the vicious cycle

In order to escape the poverty trap, it is argued that individuals in poverty must be given sufficient aid so that they can acquire the critical mass of capital necessary to raise themselves out of poverty.

Union Budget 2019: Capital markets provide platform for investors and businesses to fulfil their financial needs

Capital market can also be divided in terms of the instruments being traded: Stock market or Bond market.

Union Budget 2019-20: What is Demand for Grants?

Demand for Grants includes provisions with respect to revenue expenditure, capital expenditure, grants to State and Union Territory governments together with loans and advances

Union Budget 2019-20: What is a supplementary grant and when is it issued by Parliament

When grants authorised by the Parliament fall short of the required expenditure, an estimate is presented before the Parliament for supplementary grant