Have you ever received pocket money from your parents?\u00a0 It may be for doing some chores or helping out a neighbour, assisting mama and papa in day-to-day activities or even as a birthday gift.\u00a0 If yes, you must have had dreams on how to spend it\u2014 The list would go on something like this\u2026..Some chocolates? A beautiful doll or toy? A lovely book?\u00a0 Some wise children may even save it for future use, putting it away carefully in a piggy bank.<\/p>\n\n\n\n
What is a Budget?<\/strong><\/p>\n\n\n\n A budget is an elaborate plan for sourcing the money and\nspending for various welfare and infrastructure projects of the country. This\nis very important for the overall development of the country. \n\nWell, just like that, our country also needs\nmoney. The Indian government then puts\nforth plan to get and use this money wisely for the welfare of the\ncountry. This plan is called the Indian\nBudget. \n\n\n\n<\/p>\n\n\n\n \u00a0 <\/p>\n\n\n\n The features of a Budget can be explained in simple words in the following manner:\u00a0 <\/strong> The money which you get from your parents is inflow or source; the money you spend is the outflow.\u00a0 If the money you get is less than the money you spend, it is called a deficit budget. In other words, you have spent more than you have.\u00a0 If you are left with money after you spend it for your needs, then it is called surplus budget.\u00a0 As a child, you need to plan to spend your pocket money and the money you save in your piggy bank after this is your savings.\u00a0 So budget should be your way of life! <\/p>\n\n\n\n Indian Budget<\/strong><\/p>\n\n\n\n The Finance Minister of India presents the Indian\nBudget. The proposed receipts and\nproposed payments for 1 year are planned and executed and this constitutes the\nIndian Budget. Just like how your\nparents earn money from their jobs, the government also earns money, but in\nvarious ways. The inflow of money\nconstitutes receipts from taxes like income tax GST, duties, issue of bonds or\nshares and other assets. <\/p>\n\n\n\n Now, how does the government plan to spend the collected money?\u00a0 What are the various welfare schemes which the government uses it for?\u00a0 The government spends money on education, healthcare, defence, infrastructure and other welfare programs for the poor and needy.<\/p>\n\n\n\n Importance of Budget<\/p>\n\n\n\n The government needs to plan its money wisely so that all\nthe needs of the country is taken care of as well as save money for future\ncountry needs. A good budget ensures\nthat the country grows, people get jobs and everyone has a better quality of\nlife.<\/p>\n\n\n\n Interesting Fact about Budget<\/strong><\/p>\n\n\n\n Did you know that the Finance Minister of India announces the budget every year, typically on February 1st.\u00a0 It is presented in the Parliament and is the most anticipated speech as many people, including business owners, students and families eagerly wait to see how it will affect their lives.<\/p>\n\n\n\n Conclusion<\/strong><\/p>\n\n\n\n Just like how children learn to save money and spend their\npocket money prudently, the government also meticulously plans to use the\ncountry\u2019s money wisely. A well-planned\nbudget is important to help India grow and become stronger. So, next time you hear about the Indian\nBudget, you will know exactly what it means!<\/p>\n\n\n\n SAVE MONEY AND MONEY WILL SAVE YOU!<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Have you ever received pocket money from your parents?\u00a0 It may be for doing some chores or helping out a neighbour, assisting mama and papa in day-to-day activities or even as a birthday gift.\u00a0 If yes, you must have had dreams on how to spend it\u2014 The list would go on something like this\u2026..Some chocolates? 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