 "Nirmala Sitharaman")
The budget season is here, with Finance Minister Nirmala Sitharaman set to present her sixth consecutive budget speech in the Parliament on Thursday.
The budget, though an interim one due to the upcoming Lok Sabha elections, is likely to highlight the key economic achievements of the Narendra Modi government in the last 10 years of its rule.
Sitharaman may outline the government's idea for the economic development of India if it secures a third consecutive win in the elections, scheduled for April-May.
The key fiscal exercise acts as the financial roadmap that shapes the country's economy. It paves the way for the design and implementation of different welfare schemes, the government's expenditure, revenue and other policies.
However, this key financial exercise can seem intimidating to some people, who may not be well aware of the financial jargon and the method with which this entire process is implemented.
Is a country's budget process similar to that of a household budget? What is meant by revenue budget and capital budget? Where does the government get the money to spend on schemes, and how does it decide the allocations for various sectors?
All of these budget know-how have been answered in this video, specially curated for the Business Standard viewers, to make the budget exercise easier for them. Follow the full coverage of Budget 2024 here.
Take a look:
