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History of Union Budget

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View the presentation to get a clear picture about the history of the Union Budgets post independence.

View the presentation to get a clear picture about the history of the Union Budgets post independence.

Published in: Economy & Finance, Business

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  • Stay updated with the latest happenings and updates on the Indian <ahref="http://www.kotaksecurities.com/budget2013-14/India-union-budget-2013-14.htm">union budget 2013-14 with Kotak Securities</a> - one of the India's largest share broking firm. We offer you best in class investment services for customers of India and world wide for investing in <a href="http://www.kotaksecurities.com/stock-market-news/equity/1000/equity-market/NSE/ALL/ALL">Indian Share Market</a>.
  • Transcript

    • 1. History of Budget
    • 2. • During the forties, the focus was on recovery from partition. Initial budgets were geared towards the slow rebuilding of the country and its economy. • Growth of trade was an important objective of the budgets but with the world also in a slow recovery from the second world war, the going was tough for India. 40’s & 50’s
    • 3. • The socialist pattern adopted by the country was a pillar that guided the budgets in the fifties. • The base was being laid for the heavy industries and projects that came to mark the country’s initial burst of economic activity. 40’s & 50’s
    • 4. • The budget tried to raise resources both internally as well as externally but there was still a lot of reliance on foreign aid. • The two wars that the country fought took a toll on the budget and defence expenditure had to be beefed up. • Expenditure continued towards the state run enterprises which were the tools of realising the socialist vision of the country. 60’s
    • 5. • The early seventies saw the budget giving encouragement to small enterprises so as to breed an army of entrepreneurs in the country. • There was a focus on urban areas including price controls so as to develop housing and other facilities for the large number of people living in cities. 70’s
    • 6. • Growth continued to lag at around 3.5% on an average. So the budget tried to undertake efforts to give a boost to bring it up to the 5%. • Budgets also tried to ensure that the various targets set out in the 5 year plans were achieved. 70’s
    • 7. • Inflation reared its ugly head in the early eighties and a part of the budget was directed towards fighting the impact of this high inflation. • By the mid-eighties the rise in the government expenditure started to hurt. Fiscal deficit rose sharply and the entire effort was to curtail that. 80’s
    • 8. • The budget also focused on development so as to ensure that this requirement was not forgotten in the rush to meet other expenditure. • There was also a lot of emphasis on social spending in the budget to provide benefits to the poor in the country. 80’s
    • 9. • The country faced a serious crisis that led to pledging of gold. Foreign exchange reserves fell to record lows. Tackling this was a big target in the early budgets of the nineties. • Liberalisation of the economy and freeing up of the license raj were some of the other notable goals that the budget sought to achieve. 90’s
    • 10. • Inflation reared its head once again and there were also efforts to tackle this because it hurt the poor and the needy the highest. • Recovering from the very slow growth early in the decade also took a lot of space in the budget and this also turned out to be a success. 90’s
    • 11. • The next round of reforms was laid out in the budget in the first few years of the new century. • Fiscal adjustment and increasing the growth targets were some of the important goals that the budget aimed at during the decade. st 21 Century
    • 12. • Sustaining the high growth rates in the economy became a challenge for the budget as the world slipped in a big economic recession following the bust of the housing bubble. • Increasing efforts were made by the budget to bring down tax rates and increase compliance. • The Indian economy was also sought to be integrated with the world economy in the budgets. 21st Century
    • 13. Budget Simplified Facebook Website Twitter
    • 14. Disclaimer: • Kotak Securities Limited, Registered Address: 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E) Mumbai 400 051. SEBI Registration No: NSE INB/INF/INE 230808130, BSE INB 010808153/INF 011133230, OTC INB 200808136, MCXSX INE 260808130. Investments in securities are subject to market risks, please read the SEBI prescribed Combined RDD prior to investing. • Correspondence Address: Infinity IT Park, Bldg. No 21, Opp Film City Road, A K Vaidya Marg, Malad (East), Mumbai 400097. Tel no: 66056825. • The views expressed by experts on the Website of Kotak Securities or any other platform are framed by Simplus Information Services Pvt. Ltd. and viewers to check with certified experts before taking any decision on said views. However, Kotak Securities does not guarantee or warrant the accuracy, adequacy or completeness of any information or representations viewed on any links or on any other platform and is not responsible for any errors or omissions or for the results obtained from the use of such information. Kotak Securities especially states that it has no financial liability whatsoever to any user or viewer on account of the use of information provided on its website or any other platform. The content, information and other material displayed or viewed on the website of Kotak Securities are submitted by Simplus Information Services Limited. Kindly note that Simplus Information Services Pvt. Ltd. are responsible for ensuring that material submitted for inclusion on the website of Kotak Securities or on any other platform complies with all the legal formalities. Any information displayed or viewed on its website or any other platform is to be construed as public conversation only.