Indirect taxes are levied on the production or consumption of goods and services or on transaction, including imports and exports. In case of indirect taxes, it is said...
There are different types of direct taxes such as Income Tax, Corporate Tax, Inheritance Tax, Property Tax, Wealth Tax (abolished now in India), Capital Gains Tax etc. Merits...
Kosha Moolo Danda, which means ” revenue is the backbone (of administration)” is sourced from Kautilya’s Arthshastra Part 8, Chapter 1. This implies that a nation’s status relies...
Incremental budgeting is a way of budgeting where the future allocations are based on current allocations. The new budget is prepared by increasing or decreasing the current budget...
A gender budget is not a separate budget for women. Instead, the gender budgets are an attempt to assess government priorities as they are reflected through the budget...
According to the International Budget Project (IBP), participatory budgeting is the process by which citizens deliberate and negotiate over the distribution of public resources. Participatory budgeting creates opportunities...
The preparation of budget in India involves the several stages before its presentation to the house. The fiscal year of the Union and State Governments is from April...
There are a few principles followed in budget preparation exercise. These are as follows: Principle of Annuality This implies that a budget is prepared every year on annual...
A government budget is a financial plan that outlines the projected revenues and expenditures for a specific period. It serves as a critical tool for policymakers to allocate...
Etymologically, the term budget is related to Latin bulga , which refers to a ‘leather bag. The term comes from a Gaulish source connected to the Irish bolg, which means...
