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Basic Features of Union Budget of India 2010-2011
This article gives information about the India Budget 2010, which will be presented at 11a.m. on 26th February 2010. This article gives information on India Union Budget Basics.
People from all walks of life wait with bated breadth for the Finance Minister of India to present the Union Budget 2010-2011. With eyes glued to live podcasts & TV telecasts, and ears glued to Radio stations, the Union Budget 2010-2011 is an exciting edge-of-the seat thriller!
Before you start viewing the India Budget 2010, though, get first-hand knowledge about the basics of the Union Budget of India.
What is the Union Budget of India?
The Union Budget of India, to put it simply, is the financial statement of the Government of India for the coming financial year. It provides a statement of all the expenditures and inflows (revenues, taxes, etc) for the coming financial year – this ensuing financial year is 2010-2011.
Who presents the Union Budget of India?
The Finance Minister of the Government of India presents the Union Budget of India. Pranab Mukherjee, the current Finance Minister of India, will present the Union Budget 2010-2011.
Where is the Union Budget of India presented?
The Union Budget of India is presented in the Parliament House, in the Lok Sabha.
Where is the Parliament of India located?
The Parliament of India is located at Sansad Bhavan, Parliament Street (north of Rajpath), New Delhi – 110001. Sansad Bhavan is the Parliament House. It was previously called the Circular House due to its circular design.
What is the date of the India Union Budget 2010-2011?
The Union Budget of India 2010-2011 will be presented on 26th February, 2010. As per the official norm, the Union Budget of India is always presented on the last working day of February. The day is fixed as per the direction of the President of India.
What is the time of the India Union Budget 2010-2011?
The India Union Budget 2010-2011 will be presented in Parliament at 11a.m. Initially, the Union Budget was presented at 5p.m. Since 2001, however, it has always been presented at 11a.m.
How is the Union Budget of India prepared?
The Union Budget of India is prepared by the Finance Ministry of India. Depending on the funds available and taking into consideration suggestions put forth by various ministries, the Finance Ministry will then prepare the Budget. Only after the Prime Minister of India approves it the Budget is presented in the Parliament.
What are the parts of the Union Budget of India?
The Union Budget of India has basically two sections. The first section, known as Part A, outlines the financial aspects of various sectors and states any new schemes the Government may decide to implement. The second section, known as Part B, outlines all the tax proposals – direct taxes, indirect taxes, tax exemption limits, etc. The detailed legal provisions of the Finance Act are also mentioned in Part B.
How to find out the details of the Union Budget 2010-2011?
Simple - just switch on the TV! Television channels will provide live telecasts of the presentation of the Union Budget 2010-2011. You can also catch the live telecast of Union Budget 2010-2011 on the computer here: Live Webcast of Union Budget 2010-2011
India Budget 2010-2011: 11a.m., 26th Februray 2010. The excitement begins…
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