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What is the Budget all about?

February 11, 2008

What is the Budget all about?

Yet another Budget is around the corner. This will be UPA government's last full Budget as the government is set to face elections in May 2009.

It is likely to be a 'people friendly Budget'. Finance Minister P Chidambaram is not likely to take any adverse step in the wake of the general election.

The Union Budget is the most awaited event in India as it affects each one of us. Here's all that you want to know about the Budget.

What is the Union Budget?

The Union Budget is the annual report of India as a country. It contains the government of India's revenue and expenditure for the end of a particular fiscal year, which runs from April 1 to March 31.

The Union Budget is the most extensive account of the government's finances, in which revenues from all sources and expenses of all activities undertaken are aggregated.

Image : Finance Minister P.Chidambaram arrives at the Parliament House carrying the Budget 2006 papers to be tabled in the Lok Sabha on Tuesday, February 28, 2006.
Photograph: Ranjan basu/ Saab Pictures

Also read: Mr Chidambaram's Budget No. Seven

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