Budget in 5 words

  • Income tax

    This is the tax levied on individual income from various sources like salaries, investments or interest

  • Indirect tax

    Tax imposed on goods manufactured, imported or exported such as excise duties and custom duties

  • Inflation

    Inflation is a sustained increase in the general price level. The inflation rate is the percentage rate of change in the price level

  • GDP

    Total market value of the goods and services manufactured within the country in a financial year

  • Fiscal deficit

    Fiscal deficit is the gap between the government's total spending and the sum of its revenue receipts and non-debt capital receipts

  • Excise duty

    These are levies paid by manufacturers on items manufactured within the country. Usually, these are passed on to the consumer

  • Direct taxes

    These are the taxes that are levied on the income and resources of individuals or organizations

  • Disinvestment

    It is the liquidation or sale of part or the whole of government's stake in public sector undertakings

  • Corporate tax

    This is the tax paid by corporates or firms on the incomes they earn

  • Current account deficit

    This deficit shows the difference between the nation's exports and imports

  • Budget

    The annual Union Budget is an estimate of the Government of India's revenue and expenditure for the end of a particular fiscal year, which usually runs from April 1 to March 31

  • Appropriation Bill

    This Bill is like a green signal enabling the withdrawal of money from the Consolidated Fund to pay off expenses. These are instruments that Parliament clears after the demand for grants has been voted by the Lok Sabha

Over The Years