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What is Budget and why it is important

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Posted by : nifm
24 February, 2015, 1:41 PM
The Union Budget of India, referred to as the Annual Financial Statement is the annual budget of the India, it is basically presented each year on the last working day of February by the Finance Ministry of India in Parliament. The budget it means a lot, which is presented by means of the Financial Bill and the Appropriation bill has to be passed by the House before it can come into effect on April 1, the start of India's financial year.   The Budgeting is the process of creating a plan to how to spend your money. Creating this spending plan allows you to determine in advance whether you will have enough money to do the things you need to do or would like to do.   Budgeting is a simple a way to balancing your expenses with money which you have. If they don't balance their money and you spend more than you make, you will have a big problem. There are so many people don't realize that they are spending more than they earn and slowly sink deeper into debt every year. Thats why it is very important.   The budget session of India’s Parliament starts Monday when Prime Minister Narendra Modi’s government will present its first full-year spending plan and look to pass key bills to jumpstart the economy.   The Railway budget is the first set piece on the agenda and scheduled to be announced on Thursday Feb. 26 followed by economic survey the next day and the annual budget on Feb. 28.   Analysts and economists will be watching for announcements in the federal budget that could revive the economy by boosting investments and manufacturing.

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