BUDGET SPEECH Free Download Pdf Book

BUDGET SPEECH Free Download Pdf

BUDGET SPEECH Free Download Pdf Book

BUDGET SPEECH Free Download Pdf Book The first part of the budget speech provides an overview of the economy for the past and current years, and also provides budget estimates for the upcoming financial year. Basically, part A covers the review of the prevailing economic situation in the country and is more concerned with the “macro” aspect of the economy. Part A provides the comprehensive spending framework in detail for different sectors, introduces new schemes, and explains government priorities. This segment of the budget speech also specifies the government’s areas of focus.

In Part A, the finance minister gives a brief overview of the total funds raised by the government through taxes or loans, and discusses how the money will be spent in budget deficits / surpluses. He also presents a complete breakdown of expenses for each ministry. Essentially, Part A deals with the general economic study of the country. The fiscal deficit, current account deficit (CAD), and inflation are also discussed in Part A of the budget speech.

BUDGET SPEECH Free Download Pdf Book

BUDGET SPEECH Free Download Pdf Book

BUDGET SPEECH Free Download Pdf Book

Part B of the budget speech The second part of the budget speech highlights the government’s fiscal proposals for the next financial year and has a direct bearing on the personal finances of citizens. Part B should also be read in conjunction with the Finance Act, which is a document that contains legal provisions. A reader can understand the provisions by consulting the attached Memorandum of Explanations, which provides extensive information on the changes.

The second section of the speech informs taxpayers about the state of the economy, the progress the government has made on various development measures, and the direction of future policies. At the conclusion of Part B of the budget speech, the finance minister describes tax proposals or reveals variations in the existing tax system. The ‘Annual Financial Statement’ is presented at the end of the finance minister’s speech.

BUDGET SPEECH Free Download Pdf Book