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It is an annual fiscal document outlining the government's policies and financial plans for the upcoming financial year.


Gross Domestic Product is used to measure a nation's economic progress over time

It records all economic transactions between a country and the rest of the world.

It is presented to Parliament for approval when the central government seeks to add or alter taxes.

Direct taxes are imposed on individuals and corporate entities directly; indirect taxes are paid by the final consumer.


GST is a standard indirect tax applied across the nation, replacing all central taxes.

It is the blueprint for the Union Budget and is maintained throughout the preparation process. 


Click here to read more about the terms related to Budget.

Check here for more budget related stories.


Budget 2023: Simple terms explained

As the Union Budget announcement for 2023-24 is around the corner, let us explore and understand some common terms and concepts related to the Budget.

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Budget 2023: Simple terms explained

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