Budget
‘Budget’ is believed to have been derived from the French word ‘Bougettee’ which literally means a small leather bag: The bag is not itself important. The documents inside bag contains the finance bill presented by the Finance Minister in the parliament every year is important. The finance bill contains the income and expenditure of the citizens. Hence it is important. Before it is presented in the parliament, the contents of the bag, i.e. the tax proposals, the allocation of govt. expenditure on different heads, the quantum of deficit, surplus etc. are kept a closely guarded secret. In our country, the finance minister of the Union Govt. and the states present the budget at the end of each financial year. The financial year starts from 1st April and ends in 31st March.
