What Is the Union Budget?
In India the Union Budget is the Annual Financial Statement or the statement of the estimated expenditure and receipt of the Indian Government in each financial year is known as the Union Budget.
History Of Union Budget In India
The Union Budget of India is also referred to as the Annual Financial Statement in Article 112 of the Indian constitution. The Government presents union budget on the Ist day of February so that it could be materialised before the starting of the new financial year.
Until the 2016 financial year Union Budget was presented on the last working days of February by the Finance Minister.
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First In Union Budget In India
The first Union Budget was presented 160 years ago in 1860 by James Wilson a Scottish Economist. The first Union Budget of Independent India was presented on 26 Nov. 1947 by R.K Shanmukham Chetty.
Pandit Jawaharlal Nehru was the 1st PM who presented the first Union Budget In 1958-59.
Union Budget 2023-24
Union Budget 2023-24 aims to build on the foundation of the previous Financial year Budget and blueprint for India at 100.
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Key Points Of Union Budget 2023-24
PM Garib Kalyan Yojana
Pradhan Mantri Kaushal Vikas Yojana 4.0
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Centre Of Excellence For Artificial Intelligence (AI)
Skill India International Centres
What is the revenue and fiscal deficit in the Union Budget presented by R.K Shanmukham Chetty in 1947?
Total revenues stood at ₹171.15 crore, and the fiscal deficit was ₹24.59 crore in union Budget in 1947.
Who was the 1st PM presented the first Union Budget In 1958-59?
Pandit Jawaharlal Nehru was the 1st PM who presented the first Union Budget In 1958-59.
