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Know Everything About Budget 2021

A budget is a financial plan used to estimate future income and expenses. Union Budget Presented by the Finance Minister in Parliament on 1st feb every year.

The first union budget of independent India was presented by R. K. Shanmukham Chetty on 26 November 1947. Since then 74th Budget have been presented in India

Types of Union Budgets 2020-21

Revenue Budget: Revenue defined as total income produced by a given source the revenue budget consists of revenue receipts of the governments ( revenues from tax and other sources ) and the expenditure met from these revenue.

Capital Budget: Capital Budgeting also known as investment appraisal in the process by which a company determines whether projects ( such as investing in R&D, opening a new branch, replacing a machine ) are worth pursuing. A project typically adds value to the company if it earns a rate of return that exceeds the costs of capital.

Objective of Budget

  • Accelerating Economic Growth
  • Alleviating Poverty and Unemployment
  • Reduction of Inequalities in Income and Wealth
  • Redistribution of Income
  • Investment in Socially Productive Sectors
  • Maintaining Price and Economic Stability
  • Financing and Management of PSU’s

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