Budget – What is Budget?

Budget – It is a document containing a preliminary approved plan of public revenue and public expenditure. It is a statement of the estimated receipt and expenses during a fixed period, it is a comparative table giving the accounts of the receipts to be realized and of the expenses to be incurred.

The Annual Financial Statement or the Statement of the Es­timated Receipts and Expenditure of the Government of India in respect of each financial year is popularly known as the Budget.

Origin of Budget:

Derived from French word ‘Bougette’ meaning “Sack or Pouch”. Bag used by the British chancellor to keep his pa­pers to be presented to the parliament. Present sense of the term was used for the first time in 1873.

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Budget What is Budget

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