budget-introduction

About Budget

  • Every year the Budget is presented in the Indian Parliament by our Finance Minister. This is the Annual Statement (Article 112) of the revenue and expenditure of a government. To have a clear picture of the budget, Jatin Verma will be explaining the topics related to it in a very precise manner.
  • Besides this he will also be brushing the topics related to Annual Financial Statement/Budget like Annual Budget Speech, FRBM Act, Demand for Grants, Appropriation Bill and will also be discussing the status of implementation of announcements made in the Finance Minister's Budget speech of the previous financial year.
  • The budget is presented to Parliament on such date as is fixed by the President.
  • The Financial Commission is constituted by the President of India every fifth year under Article 280 of the Constitution. It is a constitutional body whose objective is to determine the distribution of tax proceeds between the centre and states and among the states. This part of the tax proceeds is called Finance Commission Grants which is a part of the Union Budget.
  • Jatin Verma will be explaining the concept and the terms related to the Finance Commission, the various schemes discussed in the Budget, allocation of funds for each scheme, and how these schemes will help the people of India.
  • Every Government has three main responsibilities for providing security, employment, and public goods. These are all met through the schemes and how the government is keeping the follow-up.
  • Economic survey is a one-year previous report card of the Government and its work done for the public. This comes in different colors every year and has 2 different volumes- Volume 1 is the microanalysis of the work done by the govt and Volume 2 is the macro analysis by the government.
  • Both the volumes will be discussed by Jatin Verma in an elaborated manner. He will also be discussing the schemes related to different sectors like Agriculture, Manufacturing industries, and Service sectors. 
  • This time Budget will be shared in online mode and this will also help in the analysis of the government's work in the upcoming year by the public. Recently Govt has announced the delivery system of Covid vaccines. Hence the government will also keep in mind that this should not be a burden for the public, which is already facing problems during pandemic situations. 

 

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