List of Union Budget Articles

The term Union Budget came to the fore because India is the Union of States. The Constitution of India has established the federal form of Government in India. Therefore, it is called the Union of States.

Finance Minister presents the annual Union Budget in the Parliament generally on the last working day of February. The Budget is the most extensive account of the Government finances, in which revenues from all sources and expenses of all activities undertaken are aggregated.

Budget documents are not just numbers. Scrutinising them, one can understand the intention of the government, its priorities, policies and allocation of financial resources, among different regions & industries—which create a sea change in the lives of the people affected by it, Rajkumar Adukia stresses

The real estate sector saw some slowdown in demand for affordable and middle income housing segments in the past 2 years. This happened because of successive increases in interest rates by RBI. These increases increased the cost of borrowing for home loan borrowers. The sector now expects the interim budget to provide some incentives to give a boost to demand for affordable and middle income […]

The hospitality industry was among the industries most severely hit by Covid lockdowns. The industry expects more incentives from the Interim Budget. One of its key expectations is that GST rates on hotel rooms should be lowered. Currently, GST rate on hotel rooms is 12% for rooms priced below Rs 7,500. For rooms that are priced above Rs 7,500 per night, the GST rate is […]

The textile industry is a traditional industry of India. The industry has a host of expectations from the budget. It thinks that the full year budget in July will be able to meet these expectations in a better way. One expectation from the interim budget is that Remission of Duties and Taxes on Exported Products Scheme (RoDTEP) be extended till September 2024.

The key feature of Interim Budget 2024 is that it reiterated government’s commitment to fiscal consolidation and conservatism. It has set 5.1% fiscal deficit target for FY 25. For FY 26, the budget has projected fiscal deficit target of 4.6% of GDP. For FY 24, the revised estimate of fiscal deficit target has been kept at 5.8% of GDP. Fiscal deficit target as a % […]

Stock markets have responded blandly to the Interim Budget. At 2:25 p.m. on interim budget day, 1st February, 2024, Nifty 50 is down by 0.046%. Sensex is down by 0.086%.

The Union Budget of India contains a list of financial proposals and estimates and is generally referred to as the ‘Annual Financial Statement’ under Article 112 of the Constitution of India.

A special provision is, therefore, made for "Vote on Account" by which Government obtains the Vote of Parliament for a sum sufficient to incur expenditure on various items for a part of the year.

In the interim budget, the central government may opt for increasing allocation to Pradhan Mantri Awas Yojna (PMAY) or affordable housing scheme. Increasing allocation to this scheme is justified on the ground that higher interest rates have increased the cost of home loans for Indians. In the past two years, demand for middle income category housing has gone down because of higher interest rates. On […]

Every year on the day before the Budget, the Economic Survey for the previous financial year is presented. This year the government has not presented the Economic Survey. It has probably done so because interim budget is

Budget documents are not just numbers. Scrutinising them, one can understand the intention of the government, its priorities, policies and allocation of financial resources, among different regions & industries—which create a sea change in the lives of the people affected by it, Rajkumar Adukia stresses