Budget-terms you should know before FM's speech

Jan 29, 2024 Anmol Nagpal

Union Budget | It is a comprehensive report detailing the government's revenues and expenditures for the upcoming fiscal year. Source: PTI

Capital Budget | It comprisis of capital receipts and payments. Source: Unsplash

Revenue Budget | It deals with the day-to-day operations of the government. Source: Budget

Fiscal deficit | It represents the disparity between government spending and the sum of its revenues and non-debt capital receipts. Source: Pexels Photo

Finance Bill | It outlines the government's proposals for tax related changes, amendments or introductions and is presented to Parliament. Source: FIle Photo/PTI

Central Plan Layout | It refers to the allocation of monetary resources to various sectors like energy, transport, social services, etc. Source: Unsplash

Tax Deduction | It refers to the reduction in the taxable income by a specified amount. Source: Republic

Tax Deducted at Source | It refers to the collection of tax at the source of income. Source: Shutterstock

Tax Collection at Source | It refers to the additional tax collected by a seller from the buyer and the time of sale. Source: Unsplash

Rebate | It refers to a reduction in total income tax, stimulating economic activity by reducing the tax burden. Source: Unsplash

Budget-terms you should know before FM's speech

Related Stories: