Everything about Union Budget you Must know ! 😱 - PART 1
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Budget Facts Finance Minister Nirmala Sitharaman became only the second women in the history of independent India to present the first Union Budget of the Modi government on July 5, 2019. Breaking away from the brown Budget briefcase, Sitharaman held a red parcel like bag with a keyhole on the emblem. What is a Union Budget? Under Article 112 of the Constitution of India, the central government is constitutionally bound to lay down the annual financial report of the country. This Report is commonly known as the Union Budget of India. The Union Budget holds the same character as the budget of other levels of government,except in the source of revenue and expenditure. The Union Budget also includes the F i n a n c e B i l l a n d Appropriation Bill, both of which are to be passed by both Houses of Parliament before implementation on April 1 of the new financial year. Difference between Interim Budget and Full Budget The outgoing government announces an Interim Budget o...