Economic survey of India covers the important current affairs aspects in the Indian economy. This is very important for UPSC IAS Prelims examination. The Budget presentation to the Parliament in India is a significant economics occasion. The Budget arrays economic policy of the Government for the coming fiscal year. The Union Budget covers several economic terms which are hard to understand, leaving the UPSC aspirants muddled.
Here we are giving 10 important terms in the Union Budget that you should know for UPSC Civil Services IAS Prelims Exam .
Taxes are levied by the government for public expenditure. There are many different types of taxes like income, corporate, sales, wealth and environmental taxes. The two major classifications of taxes are the direct tax and the indirect tax which is a highlight in Union budget.
Budget receipts further classified as
Key fetures of union budget2017-2018