Budget 2024: Top 7 Important Terms For Students To Know!
By Jasreet Kaur31, Jan 2024 04:33 PMjagranjosh.com
Top 7 Important Terms
Before the upcoming Interim Budget for 2024-2025, here are the key terms explained in simple words that help students to understand them easily. Tap to see!
Interim Budget
An overview of the government's financial plans for the fiscal year 2024-2025 until the Lok Sabha elections.
Fiscal Policy
Government decisions on spending and revenue collection to achieve economic goals.
Capital Budget
Allocation of funds for long-term projects and assets, involving capital receipts and expenditures.
Revenue Budget
Covers day-to-day government operations, debt interest, and subsidies through revenue receipts and expenditures.
Contingency Fund of India
Reserved for national emergencies, currently set at Rs. 500 crore, under the President's authority.
Vote-on-account
Parliamentary approval for the current government to spend money on various items for part of the year.
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