Q. Which of the following data sets is/are covered under union budget?
1.Actual data of the preceding year.
2.Provisional data of the current year.
3.Budgetary estimates for the following year.
Choose the correct answer from below given codes:
Explanation: The Union Budget has three sets of data for every concerned sector or sub sector of the economy:
- Actual data of the preceding year (here preceding year means one year before the year in which the Budget is being presented. Suppose the Budget presented is for the year 2017–18, the Budget will give the final/actual data for the year 2015-16. After the data either we write ‘A’, means actual data/final data or write nothing (India writes nothing).
- Provisional data of the current year (i.e., 2016–17) since the Budget for 2017–18 is presented at the end of the fiscal 2016–17; it provides Provisional Estimates for this year (shown as ‘PE’ in brackets with the data).
- Budgetary estimates for the following year (here following year means one year after the year in which the Budget is being presented or the year for which the Budget is being presented, i.e., 2017–18). This is shown with the symbol ‘BE’ in brackets with the concerned data.).
Source: TMH Ramesh Singh