Thursday, January 27, 2022

Know Some Special Things About The Union Budget

Knowledge Minster January 27, 2022 Did you know?

Budget 2022-23 is about to be presented. India's first full-time woman Finance Minister Nirmala Sitharaman will present the budget for the fiscal year 2022-23 on February 1. According to Article 112 of the Constitution of India, the Union Budget is the document that gives the details of the estimated receipts and expenditure of the government for that subject for the year. It will be the 10th budget presented by the BJP government led by Prime Minister Narendra Modi since coming to power in 2014. But, on the other hand, if we talk about the Finance Minister, this will be the fourth budget to be presented by Nirmala Sitharaman after assuming the post of Finance Minister in 2019. So today we will know some important things about the budget 2022 of the country.

Budget session of Parliament.

According to the information, the budget session of Parliament is starting on January 31. It will begin with President Ram Nath Kovind's address to both the houses on January 31. The first part of the session is scheduled to run from January 31 to February 11. After this, it will run from March 14 to April 8. Finance Minister Nirmala Sitharaman will present the budget on February 1 during the first session.

Some special things of budgets

The Ministry of Finance prepares any budget in consultation with other concerned Ministries.
Till 2017 a separate Railway Budget was presented from the Union Budget.
On average, budget speeches range from 90 minutes to 120 minutes. However, Finance Minister Nirmala Sitharaman gave the longest budget speech in 2021-22, which lasted 160 minutes.
The longest budget speech before Finance Minister Nirmala Sitharaman was delivered by Jaswant Singh in 2003, which was 135 minutes.
The record for the shortest budget speech is held by Hirubhai M Patel, who spoke only 800 words in 1977.
The budget from 2017 is presented in Lok Sabha by Finance Minister on February 1 at 11:00 am. But earlier the budget was presented on the last working day of February.

Where can the Union Budget 2022-23 be viewed?

The Union Budget 2022-23 will be telecast live on Lok Sabha TV. Apart from this, it can also be shown live on DD News. In addition, budget 2022-23 can also be seen live on the official YouTube channel.

What to expect from the budget?

There can't be enough room in this year's budget for big bang use, according to the information. Therefore, no such budget will be presented, which can directly put money in the hands of the common man. However, the government may choose to provide moderate incentives. According to the news, we can see them through three major topics.