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why India has two annual budgets this year facts informative bjp
>> YOUR LINK HERE: ___ http://youtube.com/watch?v=ERlz5AyvEl8
#informative #facts #knowledge #money #budget #annualbudget #railwaybudget #budget #indianbudget #indianbudget2024 #nirmalasitharaman #factsexplained #facts #factsmine #getsetflyscienc #getsetflyfact #getsetflyfunda #coldfusion #genzway #dhruvrathee #informateglobe #trending #howto #whatif • India typically has two annual budgets during an election year: a full budget and an interim budget. The need for two budgets arises from the timing of general elections, which usually take place in the first half of the year. • 1. **Full Budget**: The full budget is a comprehensive financial statement for the upcoming fiscal year, presented by the ruling government. It includes detailed plans for revenue, expenditure, taxation, and economic policies. Normally, the full budget is presented at the beginning of February and covers the entire fiscal year, which runs from April 1 to March 31. • 2. **Interim Budget**: In an election year, the sitting government may not have the mandate to make long-term financial commitments, as their term is ending, and a new government may come into power. Therefore, instead of presenting a full budget, the government presents an interim budget, typically at the end of January or early February. • The interim budget is a short-term financial statement that covers government expenditures and revenue collection for a few months, usually until the new government is formed and can present its own full budget. The interim budget includes essential expenditures and income to ensure the smooth functioning of the government during this transitional period. • 3. **Reasons for Two Budgets**: • **Political Neutrality**: The interim budget ensures that the outgoing government does not make long-term financial decisions that could bind the incoming government. • **Continuity of Governance**: It allows for the continuation of government services and operations during the election period without making significant new policy decisions. • **Responsibility**: It is a responsible way to manage the country’s finances during a period of political uncertainty, ensuring that essential services are funded while awaiting the new government’s direction. • In summary, India has two annual budgets during an election year to maintain fiscal responsibility and ensure smooth governance during the transition from one government to the next.
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