How Union Budget 2022 is as practical an exercise as it is visionary

Budget Opinion

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quiz

When did former finance minister Pranab Mukherjee present his first budget?

poll

Will the finance minister slash tax rate for the salaried class in the Budget?

Will the finance minister slash tax rate for the salaried class in the Budget?

Yes

No

Can't say

The annual Union Budget, presented by the Finance Minister, is the yearly financial statement that contains the government's revenue and expenditure for a fiscal year. The statement gives details of revenue from all sources, and expenditure on all activities that the government will undertake for the fiscal year. The fiscal year is calculated from 1 April-31 March. The Budget also contains the revenue and capital budget. A revenue budget comprises of all the revenue expenditure and receipts of the government. If the revenue expense is in excess of the receipts, the government suffers a revenue deficit. The capital budget consists of government-related capital receipts and payments. It includes investments in shares, loans and advances granted by the central government to state governments, government companies, corporations and other parties.