Union BudgetThe most comprehensive report of the finances of the government in which revenues from all sources and expenses from all activities are put together. It also includes government’s estimates for the next fiscal year called Budgeted Estimates.
Direct and Indirect TaxesDirect taxes fall directly on individuals and corporations. Example: Income taxIndirect taxes are imposed on goods and services, to be paid by consumers when they buy them.Example: GST
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Fiscal DeficitThe difference of the government's total expenditure over total non-borrowed receipts.
Revenue DeficitThe difference between revenue expenditure and revenue receipts.
Fiscal PolicyIt is the government’s action or plan to aggregate levels of revenue and expenses. Through this, the government influences the economy.
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Monetary PolicyThe plan decided by the central bank (Reserve Bank of India) to regulate the level of money in the economy.
InflationA sustained increase in the general price level. The percentage rate of this change is called Inflation rate.
Capital BudgetThe account of capital receipts and payments by the government which includes investments and advances granted by the central government to state governments, government corporations or other parties.
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Revenue BudgetThe account of revenue receipts and expenditure by the government which includes tax revenue and non-tax revenue.
Finance BillThe bill produced immediately after the presentation of the Union Budget detailing the imposition, abolition, alteration or regulation of taxes proposed in the budget.
DisinvestmentThe sale of shares of public sector undertakings by the government.
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Contingency Fund of IndiaA fund placed at the disposal of the president of India to enable him/her to meet urgent, unforeseen expenditure for the country.
Samidha graduated with a bachelor's in mass media from Sophia College, Mumbai, right before joining Forbes India, where she writes about various startups across industries. She also works on News by N
