What is the Union Budget of India?

image_pdf

India’s Finance Minister, Arun Jaitley, presented the Union Budget for 2017 on Feb 1, 2017.

What is the Union Budget of India?

It’s basically an account of how much money the Government of India expects to spend and earn in the following year.

How does the Government of India earn money?

The Government of India earns money from various places. Almost one-third of it comes from corporate and income tax.

Remember that income tax is a part of the money that you earn that you have to give the government. This is about 30% of your earnings. So if you earn Rs 100 in the year, you have to give Rs. 30 to the Government of India.

Corporate tax is a part of the money that companies earn that has to be given to the government. Depending on the size of the company, it is anywhere between 25 and 35% roughly. 

What does the Government of India spend money on?

Various things to keep the country strong and help the people to lead better lives. These things include:

  • Defence
  • Railways
  • Roads
  • Health

 

Spread the love
No Comments Yet

Leave a Reply

Your email address will not be published.

Write to us at
mail@currentkids.in

Help us keep currentkids, current! We’d love to hear about your crazy adventures and experiences. Send us your pictures, travel diaries, thoughts on cool new gadgets, gaming experiences and anything else you find interesting!

About Us

Welcome to our entertaining and empowering news source for kids with inquisitive minds! This is a digital space that keeps kids aged 8 and above (and your families!) connected to what’s happening in the world. We filter a wide variety of news, events, and interesting bits of trivia to develop short, relevant, unbiased content in creative formats. We give everyone something to relate to and get engaged with in short bytes of information with a snappy, chatty feel. We believe in encouraging curiosity, creativity and continued learning in our safe digital space.

Why is reading non-fiction important?

This helps curious minds to learn more about the outside world. It also enriches their vocabulary and their general knowledge. Simplified news helps children to express their opinions easily with their friends and family and gives them some perspective on complex issues. Our safe news website will give you parents a useful tool with which to navigate the digital world with your children.

We hope you enjoy our posts!

Biyash & Sunaina

Subscribe to our weekly newsletter and stay current!

 

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.