Anmol Nagpal
Budget-terms you should know before FM's speech
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