The Budget's groundwork
The Indian economy in the first quarter of the current fiscal year shrank by a gargantuan 23.9%, followed by a better-than-expected contraction measuring 7.5%. According to the government's own estimates released in the Economic Survey (and in the revised estimates before that), the economy will get smaller to the tune of 7.7%.
Health is paramount too, as India steers the world's largest vaccination drive which started on January 16, and still has 1,68,235 active cases of COVID-19.
FM Sitharaman calls on President Kovind
FM Nirmala Sitharaman, accompanied by MoS Finance, Anurag Thankur and other officials, call on the President Ram Nath Kovind.
App for budget documents
The Ministry of Finance has launched a mobile app for iOS and Android to facilitate access to the Budget documents.
Find it here.
FM Nirmala Sitharaman to read the Budget through a tab
Reports suggest that it is a 'Made in India' tablet.
This Budget will be a paperless one.
Budget Day Timeline
9am: Photo with Budget Team when FM leaves for Rashtrapati Bhawan
11am: Finance minister to present budget 2021-22 in Parliament
3pm: FM Sitharaman to address a post-budget press conference along with MoS for Finance, Finance Secretary, and other Secretaries
The Finance Bill & The Appropriation Bill
The are a part of the official legislation that is part of the passage of the budget
Read about the Finance Bill here, and Appropriation Bill here.
The Revenue and Capital Budget
The budget accounts for two heads: Revenue and capital.
Read what it is here:
Also Read: BOOM Glossary #2: What Is The Revenue Budget and Capital Budget?
The Annual Financial Statement
It's one of the documents that is presented as part of the Budget.
BOOM tells you what it is:
Budget Glossary #1: The Annual Financial Statement
Budget to be presented at 11AM tomorrow
Finance Minister Nirmala Sitharaman is scheduled to present the Budget tomorrow at 11 am.
The fiscal deficit
It's likely you'll hear this term tomorrow.
Here's what is means:
Also Read: BOOM FAQ #4: What Is Fiscal Deficit?