There are three main features of an annual budget.
- One, it is a consolidated financial statement of expected expenditures and various sources of revenue of the government.
- Two, it relates to a financial year.
- And three, the expenditures and the sources of revenue are planned in accordance with the declared policy objectives of the government.
Further Reading :
- Union Budget 2021 – 22
- Union Budget – Important Economic Terms
- List of Indian Government Ministries, Departments
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