What do you mean by Union Budget?

Asked by Last Modified  

5 Answers

+1

Follow 1
Answer

Please enter your answer

Roy M Joseph

IELTS & OET Exam Trainer

As per the given definition in line with Article 112 of the Indian Constitution, the Union Budget of a year, also referred to as the annual financial statement, is a statement of the estimated receipts and expenditure of the government for that particular year.
Comments
Dislike Bookmark

IELTS & OET Exam Trainer

Union Budget, which is a yearly affair, is a comprehensive display of the Government's finances. It is the most significant economic and financial event in India. The Finance Minister puts down a report that contains Government of India's revenue and expenditure for one fiscal year.
Comments
Dislike Bookmark

Cambridge-Trained Ex-IITian Math Faculty for AS/A Level Math; IB Math; ISc Math and HSc Math

Union government needs funds to implement its programes and policies. Therefore, the finance minister presents to the parliament a budget, called the union budget, which is essentially a statement of revenue (how much revenue the government collected by way of taxes, duties and other levies; and how...
read more
Union government needs funds to implement its programes and policies. Therefore, the finance minister presents to the parliament a budget, called the union budget, which is essentially a statement of revenue (how much revenue the government collected by way of taxes, duties and other levies; and how the government proposes to spend this money. The union government can not spend from the revenues until the Union Budget is passed by the parliament. read less
Comments
Dislike Bookmark

UPSC/Science Teacher

It is presented each year by union finance minister which gives the financial. Details of the year in which the budget is presented, of previous year and the coming year.
Comments
Dislike Bookmark

Commerce Expert

The Union Budget of India, also referred to as the Annual financial statement in the Article 112 of the Constitution of India is the annual budget of India. The budget process in India, like in most other countries, comprises four distinct phases. Budget formulation: The preparation of estimates of...
read more
The Union Budget of India, also referred to as the Annual financial statement in the Article 112 of the Constitution of India is the annual budget of India. The budget process in India, like in most other countries, comprises four distinct phases. Budget formulation: The preparation of estimates of expenditure and receipts for the ensuing financial year; Budget enactment: approval of the proposed Budget by the Legislature through the enactment of Finance Bill and Appropriation Bill; Budget execution: Enforcement of the provisions in the Finance Act and Appropriation Act by the government—collection of receipts and making disbursements for various services as approved by the Legislature; and Legislative review of budget implementation: audits of government’s financial operations on behalf of the Legislature. The Budget is a money bill and it is introduced in the Parliament accordingly. The budget is divided into two parts. Expenditure and Revenue Part They are introduced in Lok Sabha in the form of Appropriation Bill and Finance Bill respectively. read less
Comments
Dislike Bookmark

View 3 more Answers

Related Questions

How to prepare civil service exam?
If feel You can give your boost with utmost hardwork , get advice from a proper Person may be Already cleared senior or academician. Then Dream UPSC all time , it will be real in near future.
Nandu.a.r
Hi What is the selection procedure of NDA exam? Thanks Kanu
NDA Coaching in Chandigarh- Are you tired of searching here and there for getting h4best NDA Coaching in Chandigarh? Did you find an right institute Which can Provide you the advance level of coaching...
Kanu
What is the eigibility for IES exam?
The candidates applying for IES 2016 must either be an Indian Citizen or a subject of Nepal or Bhutan.
Himsikha
0 0
8
How is history as an optional subject in the UPSC exam?
offering a comprehensive understanding of historical events and societal developments, with potential benefits for General Studies preparation and essay writing, while also presenting challenges like a...
Chandramami
0 0
5
How can I study on urbanpro.com ?
You may put your query on the web page and someone having expertise in relevant area will give you the requisite answer.
Vinit

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

IAS Examination Geography Optional Test Discussion
Online video lectures only for students https://www.youtube.com/watch?v=WSJuBpuEqd8&t=437s

Saurabh Sharma

0 0
0
Why should students go for UPSC!

Anuj Bhardwaj

0 0
0
Bank consolidation / Merger of Banks
Bank consolidation / merger of banks Converting two or more banks as one big bank is called as bank merger or bank consolidation Example : Dena, Vijaya bank merged with Bank of Baroda benefits Indian...

Yashwanth

0 0
0
Medieval History ( Akbar )
Akbar the Great (1556–1605) Emperor Akbar, the third ruler of the Mughal dynasty, is regarded as one of the greatest monarchs in Indian history. His reign (1556–1605) marked the consolidation...

K M Priyanka

0 0
0
Border management
Border is crucial in country security policy India share boundaries with seven countries Line of control(LOC) with Pakistan line of actual control(LAC) with China porous borders with Bangladesh,...

Yashwanth

0 0
0

Recommended Articles

Learn these tips and strategies, if you want...

Clearing the IAS Prelims is the very first critical step towards building a career in public administration. Choosing the right books & study materials, best IAS coaching centers, scheduling study time, and self-discipline are not just enough when it comes to cracking the Civil Services Prelims, you got to do really...

Read full article >

CDS Exam 2017 - Eligibility, Dates, Patterns...

The CDS Exam (Combined Defence Services) is conducted by the UPSC (Union Public Service Commission) twice in a year, for selecting suitable candidates for Indian Military Academy (IMA), Officers Training Academy (OTA), Indian Naval Academy (INA) and Indian Air Force Academy (AFA). Mostly, the exam is held twice a year,...

Read full article >

How to prepare for Combined Medical Services...

The Combined Medical Services Examination, which is also known as CMS exam, is conducted by UPSC every year once at a particular time. With the increasing number of aspiring candidates every year, the competition is getting tougher. Although most of the candidates work hard, only a few get a chance to crack it and secure...

Read full article >

UPSC Main: Useful Strategies for General...

The UPSC Civil Services Main exam will be start from 18th December, 2015, which means you have approximately 3 months in hand. Results of IAS Prelims are yet to be announced. Probably in the month of October you will get to know. And if you are thinking of starting preparing for the Main exam after getting the CSAT result,...

Read full article >

Find Civil Services Preliminary (CSAT) Coaching near you
Civil Services Preliminary (CSAT) Coaching in Delhi
Civil Services Preliminary (CSAT) Coaching in Hyderabad
Civil Services Preliminary (CSAT) Coaching in Bangalore
Civil Services Preliminary (CSAT) Coaching in Chennai
Civil Services Preliminary (CSAT) Coaching in Lucknow
Civil Services Preliminary (CSAT) Coaching in Mumbai
Civil Services Preliminary (CSAT) Coaching in Pune
Civil Services Preliminary (CSAT) Coaching in Jaipur
Civil Services Preliminary (CSAT) Coaching in Noida
Civil Services Preliminary (CSAT) Coaching in Chandigarh
Online IAS Coaching

Looking for UPSC Exams Coaching classes?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you