BUDGET OR FISCAL

POLICY

ctV ;k jktdks"kh; uhfr

1) Budget given under article 112 as annual financial statement.
ctV lafoèkku ds vuqPNsn&112 esa okf"kZd foÙkh; fooj.k dgk x;k gSA
2) Budget is prepared by Department of economic affairs under ministery of Finance under government of India.
ctV Hkkjr ljdkj ds foÙk ea=kky; dk vkfFkZd ekeyksa dk foHkkx cukrk gSA
3) Budget is presented by finance minister on Ist working day of February.
ctV foÙk ea=kh }kjk iQjojh ds izFke dk;Z fnol ij is'k fd;k tkrk gSA
4) Budget is approved by Parliament and applicable from Ist April.
ctV dks eatwjh laln nsrh gS vkSj 1 vizSy ls ykxw gksrk gSA
5)

ir
Budget expenditure from Consolidated Fund of India. (Article 266).

S
ctV dk O;; Hkkjr ljdkj dh lafpr fufèk ls gksrk gSA
6)

id
Working yesterday of Budget finance minister present economic survey.

sh
ctV ds fiNys dk;Z fnol ij foÙk ea=kh vkfFkZd leh{kk is'k djrs gSA
7)

a
First Budget in India present by James Wilsom in 1860.

R
Hkkjr esa igyk ctV 1860 esa tsEl foyle us is'k fd;k FkkA

by
8) First Budget of independent India present by R.K. Shanmugam Chetty on 26th November, 1947.
Lora=k Hkkjr dk igyk ctV vkj-ds- 'kueq?ke psV~Vh us 26 uoEcj 1947 dks is'k fd;k FkkA
9)

10)
O
Maximum Budget presented by Morarji Desai (10 times)

EC
lcls vfèkd ctV eksjkjth nslkbZ us 10 ckj is'k fd;kA
First Budget of Republic India by John Mathai on 28th February, 1950.
x.kra=k Hkkjr dk igyk ctV tkWu eFkkbZ us 28 iQjojh 1950 dks is'k fd;kA
11) Ist Rail Budget present in 1924 by John Mathai on recommendation of Acworth Committee
igyk jsy ctV 1924 esa tkWu eFkkbZ us ,doFkZ desVh dh fliQkfj'k ij is'k fd;kA
12) Last Rail budget presented in 2016 by Suresh Prabhu.
vfUre jsy ctV 2016 esa jsy ea=kh lqjs'k izHkq us is'k fd;kA

Public Receipts (lkoZtfud izkfIr;ka)

Revenue Receipts Capital Receipts
(jktLo izkfIr;ka) (iwathxr izkfIr;ka)
1) Tax (dj izkfIr) 1) Disinvestment fofuos'k
• Direct Tax(izR;{k dj) (sell of share/Asset)
• Indirect Tax(vizR;{k dj) • Assets(lEifÙk) Decrease
2) None-Tax(xSj&dj izkfIr) 2) Public Debt (lkoZtfud ½.k)
• Fees(iQhl) Borrowing (m/kj ysuk)
• Fine/Penalty(tqekZuk) • Liability (dtZ) Increase
• Licence issue (ykblsal tkjh)
• Interest Received (C;kt izkfIr)
• Dividend Received(ykHkka'k izkfIr)
 Public Expenditure (lkoZtfud O;;)

Revenue Expenditure Capital Expenditure

(jktLo O;;) (iawthxr O;;)
1) Subsidy (vuqnku) 1) Investment (fuos'k)
2) Scholarship (Nk=ko`fÙk) Buy of share/Asset
3) Pension (isa'ku) • Asset (lEifÙk) increase
4) Salary (osru) 2) Return of Public Debt
5) Defence Expense (j{kk O;;) (lkoZtfud ½.k dh okilh)
6) Interest payment (C;kt Hkqxrku) • Liability (dtZ) Decrease
Development & Non-Development Expenditure
fodkldkjh o xSj&fodkldkjh O;;

Development Exp.
(fodkldkjh O;;)

Sir Non-Development Exp.

(xSjfodkldkjh O;;)
1. Education
(f'k{kk {ks=k)

shid 1. Defence Expense

(j{kk O;;)
2. Health
LokLF; {ks=k

Ra 2. Police
iqfyl

by
3. Housing 3. Judiciary
vkokl U;kf;d iz.kkyh
4.

5.
ECO
Agriculture
Ñf"k
Industries
4.

5.
Administration
iz'kklfud O;;
Interest Payment
m|ksx C;kt Hkqxrku
6. Rural Development 6. Subsidies
xzkeh.k fodkl vuqnku

TYPES OF BUDGETORY DEFICIT

(CktVh; ?kkVs ds izdkj)
1) Fiscal Deficit (jktdks"kh; ?kkVk) = Public Expenditure - Public Receipts (Excluding Public Debt)
2) Primary Deficit (izkFkfed ?kkVk) = Fiscal Deficit – Interest Payment.
3) Revenue Deficit (jktLo ?kkVk) = Revenue Expenditure – Revenue Receipts
4) Effective Revenue Deficit(izHkkoh jktLo ?kkVk) = Revenue Deficit – Grant to create capital assets

Deficit Financing
(?kkVs dh foÙk O;oLFkk)
1) Borrowing from International Organisation(varjk"Vªh; laxBu ls mèkkj)
2) Borrowing from other country(vU; ns'kks ls mèkkj)
3) Borrowing from Public (eg. Bonds)(ns'k dh turk ls mèkkj)
4) Borrowing from RBI(RBI ls m/kj)
 Objective of Fiscal Policy

(jktdks"kh; uhfr ds mn~ns';)

1. Development by effective utilization of Resources.

lalk/uksa ds dq'kyre mi;ksx }kjk fodkl

2. Reduction in Income & Wealth inequalities

vk; o lEifÙk dh vlekurk de djuk

3. Price Stability & Control Inflation

dher fLFkjrk o egaxkbZ ij fu;a=k.k

4. Creating Employment Opportunities

jkstxkj ds volj c<+kuk

5. Balanced Regional Development

larqfyr {ks=kh; fodkl

6. Increase National Income/GDP

jk"Vªh;@GDP dks c<+kuk

Sir
7. Development of Infrastructure

lajpukRed <kaps dk foLrkj

shid
8.

Ra
Reduction in Deficit in Balance of Payment.

by
Hkqxrku 'ks"k dk ?kkVk de djuk

•
O
FRBM Act 2003:

EC
[Fiscal Responsibility and Budget Management]

To control deficit's in budget

ctVh; ?kkVksa dk fu;a=k.k

• To Improve fiscal management

jktdks"kh; izca/u csgrj djuk

• Transparency in fiscal operation

jktdks"kh; fØ;kaou esa ikjnf'kZrk ykuk

• Cordination between fiscal and monetary Policy

jktdks"kh; o ekSfnzd uhfr esa lg;ksx

• Applicable (ykxw) – July 2004

• Fiscal Deficit reduced by 0.3% each year & reach to 3% of GDP in 2008-09

jktdks"kh; ?kkVk izfro"kZ 0-3» de djuk rFkk o"kZ 2008&09 esa GDP ds 3» ij igqapkuk
• Revenue Deficit reduced by 0.5% each year & reach to 0% in 2008-09.

jktLo ?kkVk izfro"kZ 0-5» de djuk rFkk 2008&09 o"kZ esa jktLo ?kkVk [kRe dj nsukA

oooo