Budgeting Current Affairs - 2020

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 2020-21 presented by Finance Minister: The Themes, GST Reforms

The Finance Minister Nirmala Sitaraman presented the Budget 2020-21 on February 1, 2020. The budget focused on enhancing purchasing power of citizens and boosting their incomes. It has also given importance to technology and innovation to increase employment of the youths. The Budget 2020 has been framed on two main pillars namely Fundamental Structural Reforms Read More…

Transparency International: Assam tops in budget formulation

According to the survey conducted by Transparency International, Assam tops in terms of budget formulation followed by Odisha and Andhra Pradesh. The states that were ranked lower in terms of budget formulation are Goa, Maharashtra and Punjab. Highlights The survey was conducted by the organization based on four parameters such as budgetary process, public disclosure, Read More…

Union Cabinet approves advancement of the Budget presentation

The Union Cabinet has given in principle approval for advancement of the date of Budget presentation from the last day of February to a suitable date. Besides in another reform relating to budgetary process, Union Cabinet has approved merger of Plan and Non Plan classification in Budget and Accounts. Advancement of the date of Budget Read More…