Who presented the Union Budget in 2013?

Who presented the Union Budget in 2013?

P. Chidambaram
The Union Budget of India for 2013–2014 was presented by Finance Minister, P. Chidambaram on 28 February 2013, 11 AM.

What was the objective behind the proposal put forth in the Budget 2013-14?

In the government of India’s budget for the year 2013-14, the Finance Minister proposed to raise the Goods and Services Tax (GST) on cigarettes. He also proposed to increase income tax on individual earning more than Rupee one crore per annum. Identify and explain the types of taxes proposed by the Finance Minister.

What are the features of Union Budget?

6 pillars of the Union Budget 2021-22:

• Health and Wellbeing.
• Physical & Financial Capital, and Infrastructure.
• Inclusive Development for Aspirational India.
• Reinvigorating Human Capital.
• Innovation and R&D.
• Minimum Government and Maximum Governance.

What is the highlight of Union Budget 2012 13?

Financial Highlights of Budget 2012-12: 4,500 crore and net gain of Rs. 45,940 crore from indirect taxes, resulting into a net gain of Rs. 41,440 crore. * Fiscal deficit targeted at 5.1 per cent of GDP in 2012-13, down from 5.9 per cent in 2011-12; Central Government debt at 45.5 per cent of GDP.

What was the GDP of India in 2013-14?

On impact of the new data on fiscal deficit, which is calculated as a percentage of the GDP, Chief Statistician T C A Anant said: “The size of economy has marginally declined to Rs 113.45 lakh crore in 2013-14 under the new series from Rs 113.55 lakh crore (under the old series).”

What is budget outlay of Namamigangeprogramme when formulated in 2014?

‘Namami Gange Programme’, is an Integrated Conservation Mission, approved as ‘Flagship Programme’ by the Union Government in June 2014 with budget outlay of Rs. 20,000 Crore to accomplish the twin objectives of effective abatement of pollution, conservation and rejuvenation of National River Ganga.

Which of the following is the largest source of tax revenue in the India’s budget for 2013-14?

According to the Revenue Account – Receipts, released with Budget 2013-14, the Tax Revenues are as follows. As per the given data the corporate tax has the largest source of Tax Revenue.

What Union Budget means?

Definition: According to Article 112 of the Indian Constitution, the Union Budget of a year, also referred to as the annual financial statement, is a statement of the estimated receipts and expenditure of the government for that particular year. Union Budget is classified into Revenue Budget and Capital Budget.

What are the types of budget?

Let’s look at the different types of budget and how they contribute to drafting a business plan.

• Master budget.
• Operating budget.
• Cash budget.
• Financial budget.
• Labor budget.
• Static budget.
• Estimated revenue.
• Fixed cost.

Which concept was introduced by the government in the Union Budget 2011 12?

The Union Budget for 2011-12 has proposed increase in the Income Tax Exemption Limit by 20000 rupees and lowering of qualifying age for tax relief for senior citizens from 65 to 60. Credit to farmers to be increased to 475000 crore rupees.

Which sector has lowest share in GDP in 2013-14?

Share of Agriculture & allied sector has declined at 18.20% in 2013-14. Share of Services sector has improved to 57.03%. Share of Industry sector has also increased to 24.77%. According to CIA Fackbook, sector-wise Indian GDP composition in 2017 is as follows: Agriculture (15.4%), Industry (23%), and Services (61.5%).

When was the last Union Budget presented in India?

These budgetary proposals would be applicable for financial year 1 April 2012 to 31 March 2013. The Union Budget of India for 2013–2014 was presented by P. Chidambaram on 28 February 2013. The Interim Union Budget for 2014–2015 was presented on 17 February 2014. The Union Budget of India for 2014–2019 was presented by Arun Jaitley.

Who is present president of Union Budget 2019?

The Union Budget for 2019–2021 was presented by Nirmala Sitharaman. Another tradition is the pre-budget speech of the President. In picture the President being led in a ceremonial procession to the Central Hall of the Parliament to address the Budget Session, 2005.

What’s the difference between a Union Budget and an interim budget?

Union budget of India. An Interim Budget is not the same as a ‘Vote on Account’. While a ‘Vote on Account’ deals only with the expenditure side of the government’s budget, an Interim Budget is a complete set of accounts, including both expenditure and receipts. An Interim Budget gives the complete financial statement, very similar to a full Budget.

When does the finance minister present the budget?

The Government presents it on the first day of February so that it could be materialised before the beginning of new financial year in April. Until 2016 it was presented on the last working day of February by the Finance Minister in Parliament.