DR SHYAM PRASAD

MUKHARJI UNIVERSITY ,
RANCHI
Presented by:- Shubham Kumar
Saurav Kumar
Rohit Kumar
 Class :- BBA Sem lll
Topic :- Budget 2023-24.
BUDGET
 MEANING
 A budget is a financial document used to project future
income and expenses.
 Union finance minister shrimati Nirmala sitaraman
on Wednesday 1st February presented the union budget
2023 the 5th budget of the Modi 2.0 she called as
Amrit Kaal .
 In the last full fledged budget before the general
election next year, Nirmala sitaraman said that the
Indian economy is on the right path and heading
towards a bright future.
 According to Article 112 of the Indian Constitution, the
Union Budget of a year is referred to as the Annual
Financial Statement (AFS).

It is a statement of the estimated receipts and expenditure of

the Government in a Financial Year (which begins on 1st
April of the current year and ends on 31st March of the
following year).
OVERALL, THE BUDGET
CONTAINS:
Estimates of revenue and capital receipts,
Ways and means to raise the revenue,
Estimates of expenditure,
Details of the actual receipts and expenditure of the closing financial
year and the reasons for any deficit/surplus in that year, and
 The economic and financial policy of the coming year, i.e., taxation
proposals, prospects of revenue, spending programme and
introduction of new schemes/projects.
IN PARLIAMENT, THE BUDGET
GOES THROUGH SIX STAGES:
Presentation of Budget
General discussion
Scrutiny by Departmental Committees
Voting on Demands for Grants
Passing an Appropriation Bill
 Passing of Finance Bill
 IMPORTANT FACTS
 First budget of India – on April 7, 1860 given by Scottish economist and
politician James Wilson of East India company.
 First budget of independent India – RK Shamukham Chetty India’s first
finance minister delivered the countries first budget on November 26 1947.
 Longest budget speech – 1st February 2020 by Nirmala sitharaman 2
hours 42 minutes.
 Speech having most words – 1991 Manmohan Singh 18650 words .
 Shortest speech – 1977 Hirubhai Mulljibhai Patel.
 Maximum number of budget – Morarji Desai (10), Chidambaram
(9) ,Pranav mukharji (8)
 First paperless budget – 2021-22 due to covid pendemic.
 First woman to give budget – Indira Gandhi 1970 – 71
 Till 2016 the budget was presented on the 28th February,
from the year 2017 onwards the date of the presentation of
the union budget was shifted to 1st February and that
practice continues.
 Till 2016 the railways budget was presented separately 2
days prior to the union budget from 2016 the railways
budget was merged into the union budget.