Budget 2022: Presented on February 1; Take a look at some important information about the budget of 2022!

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#NewDelhi: Finance Minister Nirmala Sitharaman will present the 2022 budget in Parliament on February 1 at 11 am. Let’s take a look at some important facts about the budget.

Union Budget

The Union Budget is also called the Annual Financial Statement. According to Article 112, the government accounts of a particular year are presented through this budget. This budget account is calculated according to a financial year, which is calculated from 1st April to 31st March.

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Budget 2022

Every year on the 1st of February, the then Finance Minister of the country presents the budget of this union in the Parliament. Until 2016, the budget was presented in Parliament on the last working day of February. Former Finance Minister Arun Jaitley changed that practice and started presenting the budget on February 1. Finance Minister Nirmala Sitharaman will present the 2022 Union Budget in Parliament. The budget will be presented in the parliament on February 1 at 11 am. But before 1999, the budget was presented at 5 pm.

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Two budget issues –

There are two issues in the budget. One of these is the Revenue Budget and the other is the Capital Budget. The revenue budget includes revenue receipts and expenditure. There are two types of revenue receipts. One is tax revenue and the other is non-tax revenue. Capital budgets include capital receipts and government payments, such as various types of loans. Also Capital Expenditure includes Development of Machinery, Equipment, Building, Health Facilities, Education etc.

Fiscal Deficit

Fiscal deficit is called when the total expenditure exceeds the total revenue. It is also called a fiscal deficit when the revenue expenditure exceeds the revenue receipt.

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In addition to these few important issues, there are various issues hidden in the Union Budget. It is clear from the union budget that the central government is going to put more emphasis on some issues and projects in the coming days. What matters most to the central government is the union budget.

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