budget and our finance ministers till yet nd finally budget of 2014-15 and vr usefull to know each point ........

2. Budget
A budget is a quantitative expression of a plan for a
defined period of time. It may include planned sales
volumes and revenues, resource quantities, costs and
expenses, assets, liabilities and cash flows. It expresses
strategic plans of business units, organizations,
activities or events in measurable terms

3. Purpose
Budget helps to aid the planning of actual operations by
forcing managers to consider how the conditions
might change and what steps should be taken now
and by encouraging managers to consider problems
before they arise. It also helps co-ordinate the
activities of the organization by compelling managers
to examine relationships between their own operation
and those of other departments. Other essentials of
budget include:
 To control resources
 To communicate plans to various responsibility center
managers.
 To motivate managers to strive to achieve budget
goals.
 To evaluate the performance of managers
 To provide visibility into the company's performance
 For accountability

4. In summary, the purpose of budgeting is tools:
 Tools provide a forecast of revenues and expenditures, that is,
construct a model of how a business might perform financially if
certain strategies, events and plans are carried out.
 Tools enable the actual financial operation of the business to be
measured against the forecast.
 Lastly, tools establish the cost constraint for a project, program,
or operation.

5. Budget types
 Sales budget – an estimate of future sales, often broken down into both units
and currency. It is used to create company sales goals.
 Production budget - an estimate of the number of units that must be
manufactured to meet the sales goals. The production budget also estimates
the various costs involved with manufacturing those units, including labor
and material. Created by product oriented companies.
 Capital budget - used to determine whether an organization's long term
investments such as new machinery, replacement machinery, new plants,
new products, and research development projects are worth pursuing.
 Cash flow/cash budget – a prediction of future cash receipts and
expenditures for a particular time period. It usually covers a period in the
short term future. The cash flow budget helps the business determine when
income will be sufficient to cover expenses and when the company will need
to seek outside financing.

6.  Marketing budget – an estimate of the funds needed for promotion,
advertising, and public relations in order to market the product or
service.
 Project budget – a prediction of the costs associated with a particular
company project. These costs include labour, materials, and other
related expenses. The project budget is often broken down into specific
tasks, with task budgets assigned to each. A cost estimate is used to
establish a project budget.
 Revenue budget – consists of revenue receipts of government and the
expenditure met from these revenues. Tax revenues are made up of
taxes and other duties that the government levies.
 Expenditure budget – includes spending data items.

7. List of Finance Ministers

8. R. K. Shanmukham Chetty
R. K. Shanmukham
Chetty, from the Indian
National
Congress was the First
Finance Minister of
Independent India, from
15th August 1947 to 1949,
when Jawaharlal Nehru
was the Prime Minister of
India.

9. John Mathai
John Mathai, from the
Indian National
Congress, was
the 2nd Finance
Minister of India,
from 1949 to 1950,
when Jawaharlal Nehru
was the Prime
Minister of India.

10. C. D. Deshmukh
C. D. Deshmukh, from
Indian National Congress
was the 3rd Finance
Minister of India, from
1950 to 1957, when
Jawaharlal Nehru was the
Prime Minister of India

11. T. T. Krishnamachari
T. T. Krishnamachari from
Indian National
Congress, was
the 4th Finance
Minister of India from
1957 to 13th February
1958, when Jawaharlal
Nehru was the Prime
Minister of India.
2nd time Finance Minister
From 29th August 1963-
To 1965

12. Morarji Desai
Morarji Desai, from Indian
National Congress,
was the 5th Finance
Minister of India, from
13th March 1958 to
29th August 1963, when
Jawaharlal Nehru was the
Prime Minister of India.
2nd time Finance Minister of
India, from 13th March
1967 to 16 July 1969,
when Indira Gandhi
was the Prime Minister of
India.

13. Sachindra Chaudshuri
Sachindra
Chaudshuri, from the
Indian National
Congress, was the
6th Finance Minister
of India,from 1965 to
13th March 1967,
when Lal Bahadur
Shastri and Indira
Gandhi were the Prime
Ministers of India.

14. Yashwantrao Balwantrao
Chavan
Y.B.Chavan, from the
Indian National
Congress was
the 7th Finance
Minister of
India, from 1971
to1975, when Indira
Gandhi was the
Prime Minister of
India.

15. Chidambaram Subramaniam
C.S., from Indian
National Congress,
was the 8th Finance
Minister of India,
from 1975 to 1977,
when Indira Gandhi
was the Prime
Minister of India.

16. Haribhai M. Patel
H.M.Patel, from the
Janata Party was the
9th Finance Minister
of India, from 24th
March 1977 to
24th January 1979,
when Morarji Desai
was the Prime
Minister of India.

17. Charan Singh
Charan Singh,from the
Janata Party, was the
10th Finance
Minister of India,
from 24th January
1979 to 28th July
1979, when Morarji
Desai was the Prime
Minister of India.

18. Hemvati Nandan Bahuguna
H.N.Bahuguna, from
the Janata Party
(Secular), was the
11th Finance
Minister of
India, from 28th July
1979 to 14th January
1980, when Charan
Singh was the Prime
Minister of India.

19. R. Venkataraman
R.V., from Indian
National Congress,
was the 12th Finance
Minister of
India, from
14th January 1980 to
15th January 1982,
when Indira Gandhi
was the Prime
Minister of India.

20. Pranab Mukherjee
Pranab Mukherjee, from the Indian National Congress,was the
13th Finance Minister of India from 15th January 1982 to 31st
December 1984, when Indira Gandhi was the Prime Minister of India.
2nd time Finance Minister of India, from 24th January 2009 to
26th June 2012, when Manmohan Singh was the Prime Minister of
India.
Pranab Mukherjee is the current President of India.

21. Vishwanth Prataph Singh
V. P. Singh, from the
Indian National
Congress was the
14th Finance
Minister of
India, from 31st Dece
mber 1984 to
24th January 1987,
when Rajiv Gandhi
was the Prime
Minister of India.

22. Narayan Dutt Tiwari
N. D. Tiwari, from the
Indian National
Congress was the
15th Finance
Minister of
India, from
25th July 1987 to
25th June 1988, when
Rajiv Gandhi was the
Prime Minister of
India.

23. Shankarrao Bhavrao Chavan
S.B.Chavan, was the
16th Finance
Minister of
India, from 25th Ju
ne 1988 to
2nd December
1989, when Rajiv
Gandhi was the
Prime Minister of
India..

24. Madhu Dandavate
Madhu Dandavate,
from the Janata Dal
/National Front
was the 17th Finance
Minister of
India, from
2nd December 1989
to 10th November
1990, when V. P.
Singh was the Prime
Minister of India.

25. Yashwant Sinha
Yashwant Sinha, from the
Samajwadi Janata
Party/National Front,
was the 18th Finance
Minister of India,
from 10th November 1990
to 21st June 1991, when
Chandra Shekhar was the
Prime Minister of India.
2nd time Finance Minister
of India, from
19th March 1998 to
1st July 2002, when Atal
Bihari Vajpayee was the
Prime Minister of India.

26. Dr.Manmohan Singh
Dr.Manmohan Singh,from the Indian
National Congress was the 19th Finance Minister
of India, from 21st June 1991 to 16th May 1996,
when P. V. Narasimha Rao was the Prime Minister of
India.

27. Jaswant Singh
Jaswant Singh, from the
Bharatiya Janata
Party, was the
20th Finance Minister of
India, from 16th May 1996
to 1st June 1996, when Atal
Bihari Vajpayee was the
Prime Minister of India.
2nd time Finance Minister,
from 1st July 2002 to
22nd May 2004, when Atal
Bihari Vajpayee was the
Prime Minister of India.

28. P. Chidambaram
P. Chidambaram, from the Tamil Maanila Congress/United
Front was the 21st Finance Minister of India from 1st
June 1996 to 21st April 1997, when H. D. Deve Gowda,
was the Prime Minister of India.
2nd time Finance Minister of India, from 1st May 1997 to
19th March 1998, when I. K. Gujral was the Prime
Minister of India.

29. 3rd time Finance Minister of India, from 22nd May
2004 to 30th November 2008, when Manmohan Singh
was the Prime Minister of India.
4th time Finance Minister of India", from 31st July
2012 till May 2014, when Dr.Manmohan Singh is the
Prime Minister of India.

30. 22nd
Present Finance Minister
of India

33. THE CURRENT ECONOMIC SITUATION
AND THE CHALLENGES
 Decisive vote for change represents the desire of the people to grow,
free themselves
from the curse of poverty and use the opportunity provided by the
society. Country in
no mood to suffer unemployment, inadequate basic amenities, lack of
infrastructure
and apathetic governance.
 Challenging situation due to Sub five per cent growth and double digit
inflation.
 Continued slow-down in many emerging economies a threat to
sustained global recovery.
 Recovery seen with the growth rate of world economy projected at 3.6
per cent in
2014 vis-à-vis in 2013.

34. ECONOMIC INITIATIVES
Government to promote FDI
selectively in sectors.
Foreign investment to be raised
to 49 per cent with full Indian
management and control and in
defence sector it is raised up 49%
from 26%.
Insurance sector to be increased
up to 49 per cent from 26
per cent with full Indian
management and control in
power exchange again it it is
raised upto 49%.
FOREIGN DIRECT INVESTMENT

35. Smart Cities
 A sum of Rs. 7060 crore is provided in the current
fiscal for the project of developing “one hundred Smart
Cities’
Real Estate
•Incentives for Real Estate
Investment Trusts (REITS).
Complete pass through for the
purpose of taxation.
•A modified REITS type structure for
infrastructure projects as the
Infrastructure
•Investment Trusts (INVITS).
•These two instruments to attract
long term finance from foreign and
domestic sources including the NRIs
.

36. Irrigation
Rural Development
 Rs 1000 crore provided for “Pradhan Mantri Krishi
Sinchayee Yojna” for assured irrigation.
•Under Ajeevika, the provision of bank loan for women
SHGs at 4% to be extended to another 100 districts.
•Initial sum of Rs.100 crore for “Start Up Village
Entrepreneurship Programme” for encouraging rural
youth to take up local entrepreneurship programs .
•Allocation for National Housing Bank increased to Rs.
8000 crore to support Rural housing.

37. • New programme “Neeranchal” to give impetus to
watershed development in the country with an initial
outlay of Rs. 2142 crores.
• Backward Region Grant Fund (BRGF) to be restructured to
address intra-district inequalities.
• An amount of Rs 50,548 crore is proposed under
the SC Plan and Rs 32,387 crore under TSP.
• For the welfare of the tribals “Van Bandhu Kalyan
Yojna” launched with an initial allocation of Rs 100
crore.
Scheduled Caste/Scheduled
Tribe

38. Senior Citizen & Differently
Abled Persons
 Varishtha Pension Bima Yojana (VPBY) to be revived for a
limited period from 15 August, 2014 to 14 August, 2015 for
the benefit of citizens aged 60 years and above.
 A committee will to examine and recommend how
unclaimed amounts with PPF, Post Office, saving schemes
etc. can be used to protect and further financial interests of
the senior citizens?
 EPFO to launch the “Uniform Account Number” Service for
contributing members .
 Scheme for Assistance to Disabled Persons for
purchase/fitting of Aids and Appliances
 (ADIP) extended to include contemporary aids and
assistive devices.
 Government to print currency notes with Braille like signs
for visibly challenged persons.

39. Drinking Water & Sanitation
 20,000 habitations affected with arsenic, fluoride,
heavy/ toxic elements, pesticides/ fertilizers to be
provided safe drinking water through community
water purification plants in next 3 years
 “Swachh Bharat Abhiyan” to cover every household
with sanitation facility by the year 2019.

40. Health and Family Welfare
 Free Drug Service and Free Diagnosis Service to
achieve “ Health For All”
 Two National Institutes of Ageing to be set up at
AIIMS, New Delhi and Madras Medical College,
Chennai.
 12 new government medical colleges to be set up.

41. EDUCATION
 A School Assessment Programme is being initiated at a
cost of Rs 30 crore.
 Rs 500 crore provided for “Pandit Madan Mohan Malviya
New Teachers Training Programme” to infuse new training
tools and motivate teachers.
 Rs 100 crore provided for setting up virtual classrooms as
Communication Linked Interface for Cultivating
Knowledge (CLICK) and online courses.
School Education

42. Higher Education
 Jai Prakash Narayan National
Centre for Excellence in
Humanities to be set up in MP.
 Rs 500 crore provided for
setting up 5 more IITs in the
Jammu, Chhattisgarh, Goa,
Andhra Pradesh and Kerala.
 5 IIMs in the States of HP,
Punjab, Bihar, Odisha and
Rajasthan.
 Simplification of norms to
facilitate education loans for
higher studies.

43. Information Technology
Pan India programme “Digital India” to
with an outlay of Rs 500 crore to be
launched.

44. Urban Development
 Vision of the Government is that 500 urban
habitations to be provided support for renewal of
infrastructure and services in next 10 years through
PPPs model.
 Present corpus of Pooled Municipal Debt Obligation
Facility to be enlarged to Rs 50,000 Crore from Rs 5000
crore.
 Rs 100 crore provided for Metro Projects in Lucknow
and Ahemdabad.

45.  Government to establish two more Agricultural Research
Institute of excellence in Assam and Jharkhand with an
initial sum of Rs. 100 crore.
 An amount of `Rs.100 crores set aside for “Agri-tech
Infrastructure Fund”.
 Rs 200 crore provided to open Agriculture Universities in
Andhra Pradesh and Rajasthan and Horticulture
Universities in Telangana and Haryana.
 A sustainable growth of 4% in Agriculture will be achieved.
 Technology driven second green revolution with focus on
higher productivity and including “Protein revolution” will
be area of major focus.
AGRICULTURE

46. Petroleum & Natural Gas
 Production and exploitation of Coal Bed Methane
reserves will be accelerated.
 Possibility of using modern technology to revive old or
closed wells to be explored.
 Usage of PNG to be rapidly scaled up in a Mission
mode.
 Proposal to develop pipelines using appropriate PPP
models.

47. Mining
 Changes, if necessary,
in the MMDR Act, 1957
to be introduced to
encourage
 investment in mining
sector and promote
sustainable mining
practices.

48. FINANCIAL SECTOR
Capital Market
 Following measures will be
taken to energize Capital
markets:
 Introduction of uniform KYC
norms and inter-usability of the
KYC records across the entire
financial sector.
 Introduce one single operating
demat account
 Uniform tax treatment for
pension fund and mutual fund
linked retirement plan

49. BANKING AND INSURANCE
SECTOR
Banking
 Time bound programme as Financial Inclusion Mission to be
launched on 15 August this year with focus on the weaker
sections of the society.
 Banks to be encouraged to extend long term loans to
infrastructure sector with flexible structuring.
 RBI to create a framework for licensing small banks and other
differentiated banks.
 Six new Debt Recovery Tribunals to be set up.

50. Insurance Sector
 The pending insurance laws (amendment) Bill to be
immediately brought for consideration of the
Parliament.
 The regulatory gap under the Prize Chits and Money
Circulation Scheme (Banking) Act, 1978 will be
bridged.

51. Water Resources and cleaning of Ganga
 Rs 100 crore provided for Detailed Project Reports for linking of
rivers.
 Rs 2037 crores provided for Integrated Ganga Conservation
Mission “NAMAMI GANGE”.
 Rs 100 crore provided for Ghat development and beautification
at Kedarnath, Haridwar, Kanpur, Varanasi, Allahabad, Patna and
Delhi.
 NRI Fund for Ganga will be set up.

52. Andhra Pradesh and Telangana
 Government
committed to
addressing the issues
relating to
development of
Andhra Pradesh and
Telangana in the AP
Re-organization Act,
2014. Provision made
by various
Ministries/Departmen
ts to fulfill the
obligation of Union
Government.

56. Thank You
By:- Shivam Gupta