Demystifying Budget 2020: Finance Ministry to explain economic terms through #ArthShastri social media campaign from 22 January
Through the ''#ArthShastri'' campaign, the ministry would explain several economic terms through interesting animated videos to help common man and students understand budget exercise in a simple way, an official said.
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.
The private health care sector is responsible for the majority of healthcare in India, and most healthcare expenses are paid directly out of pocket by patients and their families.
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: 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: 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 2019-20: What does Budget deficit mean; three types of deficits on basis of receipts and expenditures
Budgetary deficit is usually expressed as a percentage of GDP. If revenue expenses of the government exceed revenue receipts, it results in a revenue account deficit
Union Budget 2019: Understanding current account deficit that represents a country's financial transactions
Companies, public enterprises, businessmen who generally have higher number of regular transactions with the bank have a current account.
Without fiscal discipline, the accumulation of public debt can ultimately have a snowball effect on the economy.
When grants authorised by the Parliament fall short of the required expenditure, an estimate is presented before the Parliament for supplementary grant
Union Budget 2019: Disinvestment is government’s preferred way to liquidate loss-making, inefficient PSUs
The concept of disinvestment follows the dictum: The government has no business to be in business
Union Budget 2019-20: What is Index of Industrial Production and how it helps govt chart future course of action
IIP is a composite indicator that measures the changes in the volume of production of a basket of industrial products during a given period with respect to the volume of production
Union Budget 2019: Size of budgetary allocation for defence reflects a country's ability to fund military activities
The defence outlay works out to just about 1.58 percent of the GDP for 2018-19, the lowest such figure since the 1962 war with China wherein it was 1.65 percent.
A 'Vote on Account' deals only with the expenditure side of the government's budget
Union Budget 2019: What is Gross Budgetary Support and how it ensures govt meets planned outlays during financial year
The central plan includes the GBS and the spending of the public enterprises that do not figure in the budget.
The decision to merge the Railway Budget and the General Budget was based on the recommendations of the committee chaired by Bibek Debroy, a member of NITI Aayog.