Union budget: India - Revision history

Jyoti: /* B */

2023-02-17T10:40:31Z

‎B

Jyoti at 13:38, 5 February 2023

2023-02-05T13:38:51Z

Pdewan: /* Vignettes */

2023-01-28T18:35:53Z

‎Vignettes

Jyoti: /* The revenue moves of Finance Ministers */

2022-08-29T17:26:12Z

‎The revenue moves of Finance Ministers

Jyoti: /* Financial year */

2022-06-26T17:17:44Z

‎Financial year

Jyoti: /* Vignettes */

2022-02-16T22:31:24Z

‎Vignettes

Jyoti: /* Budget transparency */

2022-02-16T22:30:16Z

‎Budget transparency

Jyoti: /* 1947 */

2022-02-16T22:18:33Z

‎1947

Jyoti: /* Budgets that signalled a change */

2022-02-16T21:45:54Z

‎Budgets that signalled a change

Jyoti: /* Financial year */

2021-05-18T16:59:17Z

‎Financial year

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-[ ''The Times of India'']
+[https://epaper.timesgroup.com/article-share?article=02_02_2022_009_011_cap_TOI Feb 2, 2022: ''The Times of India'']
-[[File: The budget, in brief.jpg|The budget, in brief <br/> From: [https://epaper.timesgroup.com/article-share?article=02_02_2022_009_011_cap_TOI   ''The Times of India'']|frame|500px]]
+[[File: The budget, in brief.jpg|The budget, in brief <br/> From: [https://epaper.timesgroup.com/article-share?article=02_02_2022_009_011_cap_TOI Feb 2, 2022: ''The Times of India'']|frame|500px]]
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 UNION BUDGET: INDIA]]
 [[Category:Pages with broken file links|UNION BUDGET: INDIAUNION BUDGET: INDIA
 UNION BUDGET: INDIA]]

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-[[Category:India |B ]]
-[[Category:Government |B ]]
-[[Category:Bangladesh |B ]]
 =Budgets that signalled a change=
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 [[Union budget: 2000]]

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 =Vignettes=
 [ ''The Times of India'']
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 UNION BUDGET: INDIA]]
 [[Category:Pages with broken file links|UNION BUDGET: INDIA
 UNION BUDGET: INDIA]]

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 '' The revenue moves of Finance Ministers, 2012-19 ''
 [[Category:Bangladesh|B UNION BUDGET: INDIA
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 [[Category:India|B UNION BUDGET: INDIA
 UNION BUDGET: INDIA]]
-[[Category:Pages with broken file links|UNION BUDGET: INDIA]]
+[[Category:Pages with broken file links|UNION BUDGET: INDIA
 =Secrecy=

← Older revision		Revision as of 17:17, 26 June 2022
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	The minister did not elaborate how the government would go about it especially when the Centre would be on a different schedule. He said the MP government would “try to finish the current budget proceedings by December this year“. “The next budget will be presented in December this year, or in January 2018,“ he added.		The minister did not elaborate how the government would go about it especially when the Centre would be on a different schedule. He said the MP government would “try to finish the current budget proceedings by December this year“. “The next budget will be presented in December this year, or in January 2018,“ he added.
		+
		+
		+	=Major decisions taken outside the budget=
		+	==1991, 2019==
		+	[https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2020%2F01%2F31&entity=Ar02102&sk=D702E7AA&mode=text Sidhartha, January 31, 2020: ''The Times of India'']
		+
		+	[[File: Major economic decisions taken by the Government of India outside the Union Budget in 2019.jpg\|Major economic decisions taken by the Government of India outside the Union Budget in 2019 <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2020%2F01%2F31&entity=Ar02102&sk=D702E7AA&mode=text Sidhartha, January 31, 2020: ''The Times of India'']\|frame\|500px]]
		+
		+
		+	In 1991, the P V Narasimha Rao government ushered in major economic reforms — it opted to keep key decisions outside the Budget. In its second term, the Narendra Modi government, battling an acute economic slowdown, has been forced to announce a series of steps to accelerate activity. Instead of waiting for the Budget, the government chose to unveil steps — including one of the sharpest ever corporation tax reductions — months after Nirmala Sitharaman presented her first Budget in July 2019.
		+
		+	The series of steps announced by the government over the last few months would leave a Rs 2.9-lakh-crore impact on the exchequer, which is over 10% of the Centre’s Budget. Almost half of it is on account of a reduction in the corporation tax rate to 22%, along with a 15% levy on new manufacturing companies.
		+
		+	While it does impact the already strained fiscal situation, not all the outgo will take place during the current financial year. For instance, the income tax department is estimating a savings of up to a third of the tax reduction as all companies are yet to shift to the lower rate. Similarly, the new Rs 50,000-crore export scheme to refund levies will kick in from next year and will replace a leakage-prone Merchandise Export from India Scheme (MEIS). Even the government’s Rs 10,000-crore contribution to the proposed Rs 25,000-crore fund to revive stalled housing projects is unlikely to see an outgo in one shot, with at best a marginal amount of funds to be released during the current financial year.
		+
		+	In an interview, Sitharaman said that the Modi administration has responded to demands from various sectors. And, the steps have also shown that the Budget is no longer the sole event for making key economic statements. Of course, some of the announcements by the finance minister, which had almost turned into a weekly affair in August and September, included a series of steps that should have been taken during normal course of business.
		+
		+	In its first term, the BJPled government had moved ahead with the goods and services tax (GST), which took away the powers of the state legislature as well as Parliament to decide levies, ranging from excise duty, VAT and service tax on almost the entire set of items.
		+
		+	With a committee headed by former Central Board of Direct Taxes (CBDT) member Akhilesh Ranjan having submitted a draft of the new income tax law, all eyes are now on Sitharaman to see if she pushes for its enactment, which may end the annual suspense over reworking tax slabs and increasing exemptions and deductions.
		+
		+	[[Category:Bangladesh\|B UNION BUDGET: INDIA
		+	UNION BUDGET: INDIA]]
		+	[[Category:Government\|B UNION BUDGET: INDIA
		+	UNION BUDGET: INDIA]]
		+	[[Category:India\|B UNION BUDGET: INDIA
		+	UNION BUDGET: INDIA]]
		+	[[Category:Pages with broken file links\|UNION BUDGET: INDIA
		+	UNION BUDGET: INDIA]]

	=The revenue moves of Finance Ministers =		=The revenue moves of Finance Ministers =

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 =Vignettes=
 [ ''The Times of India'']
 Every year, the ﬁnance minister would treat ministry ofﬁcials to halwa as part of a ritual before the Budget papers went for printing. While the Budget has gone paperless, instead of the halwa ceremony [in 2022], ''' sweets ''' were shared around with the staff
 Before Nirmala Sitharaman, FMs brought the Budget to Parliament in a brown ''' leather briefcase. '''  She broke the tradition first with a red cloth bag that she termed “bahi khata”, and then with a made-in-India iPad
 =Budget transparency=

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 [[Category:Pages with broken file links|UNION BUDGET: INDIA
 UNION BUDGET: INDIA]]
 =Budget transparency=
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 For the 2017 survey, documents that should have been published prior to December 2016 were assessed. India-based thinktank Centre for Budget and Governance Accountability, which partnered with IBP, said, “In terms of publishing timely and relevant information in the audit reports and yearend reports, India has scored well above other countries.”
 = Government revenues, expenditure=

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 =Budgets that signalled a change=
 ==1947==
-[[File: The union budget of cccc, which made a difference.jpg| The union budget of cccc, which made a difference <br/> From: [https://epaper.timesgroup.com/article-share?article=02_02_2022_002_011_cap_TOI  February 2, 2022: ''The Times of India'']|frame|500px]]
+[[File: The union budget of 1947, which made a difference.jpg| The union budget of 1947, which made a difference <br/> From: [https://epaper.timesgroup.com/article-share?article=02_02_2022_002_011_cap_TOI  February 2, 2022: ''The Times of India'']|frame|500px]]
 '''See graphic''':
-'' The union budget of cccc, which made a difference ''
+'' The union budget of 1947, which made a difference ''
 ==1990-2009==

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 =Budgets that signalled a change=
 ==1990-2009==
 [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2018%2F02%2F02&entity=Ar01107&sk=E31B1E3E&mode=text  February 2, 2018: ''The Times of India'']
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 Finance minister Manmohan Singh’s 1991 Budget is widely regarded as India’s best, but as an annual financial statement of the government, it wasn’t remarkable. It would be facile to categorise a Budget in terms of best or worst because, just as Budgets affect the economy, they are also impacted by the economic and political environment of the time, which may not be within a finance minister’s control. Besides, governments often take big decisions outside of the Budget — for example, the 1991 devaluation of the rupee or the 2017 GST rollout. In picking five out-of-ordinary Budgets here, we focused only on their role as financial statements and not as instruments of policy-making. Only Budgets between 1990-91 and 2015-16 were considered because the structure of the economy has changed since the 1990s and actual data for 2016-17 isn’t available
 =Budget transparency=

← Older revision		Revision as of 16:59, 18 May 2021
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	The minister did not elaborate how the government would go about it especially when the Centre would be on a different schedule. He said the MP government would “try to finish the current budget proceedings by December this year“. “The next budget will be presented in December this year, or in January 2018,“ he added.		The minister did not elaborate how the government would go about it especially when the Centre would be on a different schedule. He said the MP government would “try to finish the current budget proceedings by December this year“. “The next budget will be presented in December this year, or in January 2018,“ he added.
		+
		+	=The revenue moves of Finance Ministers =
		+	==2012-19==
		+	[[File: The revenue moves of Finance Ministers, 2012-19.jpg\|The revenue moves of Finance Ministers, 2012-19 <br/> From: [https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL/2019/09/21&entity=Ar01913&sk=ED79439F&mode=image Sep 21, 2019: ''The Times of India'']\|frame\|500px]]
		+
		+	'''See graphic''':
		+
		+	'' The revenue moves of Finance Ministers, 2012-19 ''
		+
		+	[[Category:Bangladesh\|B UNION BUDGET: INDIA
		+	UNION BUDGET: INDIA]]
		+	[[Category:Government\|B UNION BUDGET: INDIA
		+	UNION BUDGET: INDIA]]
		+	[[Category:India\|B UNION BUDGET: INDIA
		+	UNION BUDGET: INDIA]]
		+	[[Category:Pages with broken file links\|UNION BUDGET: INDIA]]

	=Secrecy=		=Secrecy=