Budget Current Affairs - 2020

India ranks 53rd in Budget Transparency and Accountability

According to the Open Budget Survey conducted by the International Budget Partnership, India ranked 53rd among 117 countries in budget transparency and accountability. Highlights: World India scored 49 out 0f 100 in the survey. The score was above the global average of 45. New Zealand scored 87 and topped the list. South Africa, Mexico and Read More…

Parliamentary Panel: More than 40% of schools are without power and playgrounds

A Parliamentary panel set up on education submitted its report to Rajya Sabha on 2020-21 demand for grants. The report said that shortfalls in budget funds has led to critical infrastructure gaps. Key findings of the report The Panel in its report says that more than 27% cuts have been made in budget allocations for Read More…

RBI Syncs Financial Year with the Fiscal Year

On February 15, 2020, the board of Reserve Bank of India (RBI) decided to sync the Financial year of the bank with the Fiscal Year. The Fiscal Year begins in April and ends in March and the Financial year is between July and June Highlights The Central Board of Directors of RBI at the 582nd Read More…

Budget 2020: Financial Sector

The Budget 2020-21 has been framed on the basis that Governance and Finances are the two major hands in achieving the three themes of the budget. The three themes include aspirational India, Economic Development and Caring India The Budget has allocated funds for the following in the efforts of achieving 5 trillion USD economy. Public Read More…

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Budget 2020: 2.83 lakh Crore Rupees allocated to Agriculture and Rural Development

The Finance Minister Nirmala Sitaraman presented the Budget 2020-21 on February 1, 2020. The Minister has allocated Rs 2.83 lakh crore rupees for the agriculture and rural development sector. The Government aims to liberalize farm markets, remove distortions in livestock and farm markets and increase agricultural investments. It also focuses to increase purchase of farm Read More…