Finance Minister Nirmala Sitharaman took to Twitter to showcase the Modi government's achievements in transforming the Union Budget from a record of expenditures to a strategic blueprint for equitable development. Guided by Prime Minister Narendra Modi's vision of transparency and efficiency, the current regime has prioritized maximizing the value of taxpayers' money and improving the credibility of the budget over the past decade. Stay updated with the latest business news and stock market updates on Zee Business platforms.
The Union Budget: From Expenditure Record to Equitable Development Blueprint
The Union Budget, traditionally known as a mere financial statement, has evolved under the Modi government into a strategic blueprint for equitable development. Finance Minister Nirmala Sitharaman took to Twitter to highlight this transformation, guided by Prime Minister Narendra Modi's vision of transparency and efficiency.
Background:
Prior to 2014, the Union Budget primarily focused on presenting the government's annual expenditures. However, the Modi government recognized the budget's potential as a tool for long-term planning and economic growth.
Key Achievements:
Current and Past Events:
1. Current Event: Finance Minister's Twitter Announcement
Finance Minister Sitharaman took to Twitter to showcase the Modi government's achievements in transforming the Union Budget. She highlighted the shift from a record of expenditures to a strategic blueprint for equitable development.
2. Past Event: Introduction of the Budget Document in Parliament
The Union Budget is annually presented to the Parliament by the Finance Minister. The 2023-24 budget was presented on February 1, 2023, outlining the government's financial plans and economic policies.
FAQs:
1. What are the key changes introduced in the Union Budget under the Modi government?
Transparency enhancements, prioritisation of value for taxpayers' money, and alignment with the overall economic development agenda are key changes.
2. How has the Union Budget evolved over time?
From a mere financial statement, the Union Budget has transformed into a strategic blueprint for equitable development, incorporating long-term planning and economic growth objectives.
3. What is the significance of the Union Budget?
The Union Budget outlines the government's economic policies, financial plans, and allocation of resources, shaping the nation's economic trajectory.
4. Who is responsible for preparing the Union Budget?
The Union Budget is prepared by the Department of Economic Affairs in the Ministry of Finance, under the guidance of the Finance Minister.
5. What is the difference between the Union Budget and the State Budget?
The Union Budget applies to the entire country, while State Budgets pertain to the respective states and focus on their specific fiscal needs and priorities.
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