India Government Budget

India is expected to record a Government Budget deficit equal to 5.2 percent of the country's Gross Domestic Product in 2012/13 fiscal year. Government Budget in India is reported by the Ministry of Finance, Government of India. Historically, from 1990 until 2011, India Government Budget averaged -3.7 Percent of GDP reaching an all time high of -2.0 Percent of GDP in December of 1996 and a record low of -7.8 Percent of GDP in December of 2008. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page includes a chart with historical data for India Government Budget.

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Government Budget | Notes

A government budget is a legal document that forecasts the government expenditures and revenues for a specific period of time. The period covered by a budget is usually a year, known as a financial or fiscal year, which may or may not correspond with the calendar year. A government budget is often passed by the legislature, and approved by the chief executive or president.






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