RRB NTPC 2026 – DAY 2
📘 UNION BUDGET + ECONOMIC SURVEY
🏛 PART 1 – HISTORY OF INDIAN BUDGET
📌 भारत का पहला Budget कब पेश हुआ?
भारत का पहला Budget पेश किया गया था:
7 April 1860
By: James Wilson
(He was the Finance Member of Viceroy’s Council)
यह British India का पहला budget था।
Exam question:
“First budget of India was presented by whom?”
Answer: James Wilson
📌 Independent India का पहला Budget
26 November 1947
Presented by: R.K. Shanmukham Chetty
He was the first Finance Minister of Independent India.
📌 Republic India का पहला Budget
1950–51
Presented by: John Mathai
📌 Who presented budget maximum number of times?
Morarji Desai
Presented 10 budgets (maximum times)
Exam trap:
P. Chidambaram and Pranab Mukherjee also presented many times but record is Morarji Desai.
📌 Longest Budget Speech
Nirmala Sitharaman
Budget 2020
Around 2 hours 40 minutes
📌 Shortest Budget Speech
Hirubhai Patel
1977 Interim Budget
Very short speech
🏛 PART 2 – RAILWAY BUDGET
📌 Earlier Railway Budget was separate
Railway Budget used to be presented separately from 1924.
📌 When was Railway Budget merged?
2017
Railway Budget merged with Union Budget.
Exam question:
“In which year was Railway Budget merged with Union Budget?”
Answer: 2017
🏛 PART 3 – PRESENTATION CHANGES
📌 Budget Date Change
Earlier Budget used to be presented on last working day of February.
From 2017 onwards:
Budget presented on 1 February.
Reason:
Early implementation of schemes from April.
📌 Halwa Ceremony
Before budget printing starts,
Halwa ceremony is performed in North Block.
Symbolizes beginning of budget printing.
📌 Budget Printing Location
Budget printed at North Block, New Delhi.
Earlier secrecy maintained strictly.
🏛 PART 4 – CONSTITUTIONAL FACTS
📌 Article 112
Annual Financial Statement
📌 Article 110
Defines Money Bill
Budget is a Money Bill.
📌 Finance Bill
Contains taxation proposals.
Passed after Budget presentation.
🏛 PART 5 – TYPES OF BUDGETS
📌 Interim Budget
Presented before elections when full budget cannot be presented.
Example: 2019 Interim Budget
📌 Vote on Account
Allows Government to withdraw money for short period until full budget passed.
🏛 PART 6 – IMPORTANT DEFICIT TERMS (DETAILED)
📌 Fiscal Deficit
Government borrowing requirement.
Formula:
Fiscal Deficit = Total Expenditure – Total Revenue (excluding borrowings)
Expressed as % of GDP.
📌 Revenue Deficit
Revenue Expenditure – Revenue Receipts
📌 Primary Deficit
Fiscal Deficit – Interest Payments
🏛 PART 7 – ECONOMIC SURVEY FACTS
📌 Presented Before Budget
Usually one day before Budget.
📌 Prepared by
Chief Economic Advisor (CEA)
Currently under Ministry of Finance.
📌 Important Data Asked in Exams
GDP Growth Rate
Inflation Rate
R&D Expenditure
Current Account Deficit
Unemployment Rate
🏛 PART 8 – IMPORTANT GDP FACTS
📌 GDP Base Year
Current base year: 2011–12
Exam trap:
Old base year 2004–05
📌 GDP Highest Contributing Sector
Services sector contributes highest.
🏛 PART 9 – INFLATION FACTS
📌 Measured by
CPI (Consumer Price Index)
📌 RBI Inflation Target
4% ± 2%
Range: 2%–6%
🏛 PART 10 – FREQUENTLY ASKED FACTS
✔ First budget of India – James Wilson
✔ First Independent budget – R.K. Shanmukham Chetty
✔ Maximum budgets presented – Morarji Desai
✔ Railway Budget merged – 2017
✔ Budget now presented – 1 February
✔ Longest speech – Nirmala Sitharaman
✔ Budget Article – 112
✔ Money Bill Article – 11
🏛 भाग 1 – भारतीय बजट का इतिहास
📌 भारत का पहला बजट
भारत का पहला बजट 7 अप्रैल 1860 को प्रस्तुत किया गया था।
इसे James Wilson ने प्रस्तुत किया था।
वह उस समय Viceroy’s Council के Finance Member थे।
👉 Exam fact:
भारत का पहला बजट – James Wilson
📌 स्वतंत्र भारत का पहला बजट
26 नवंबर 1947
प्रस्तुतकर्ता: R.K. Shanmukham Chetty
वे स्वतंत्र भारत के पहले Finance Minister थे।
👉 Question अक्सर आता है:
“First budget of independent India was presented by whom?”
📌 गणतंत्र भारत का पहला बजट
1950–51
प्रस्तुतकर्ता: John Mathai
📌 सबसे अधिक बार बजट प्रस्तुत करने वाले Finance Minister
Morarji Desai
उन्होंने कुल 10 बार बजट प्रस्तुत किया।
यह एक महत्वपूर्ण exam fact है।
📌 सबसे लंबा बजट भाषण
Nirmala Sitharaman
Budget 2020
लगभग 2 घंटे 40 मिनट
🏛 भाग 2 – Railway Budget
पहले Railway Budget अलग से प्रस्तुत किया जाता था।
यह परंपरा 1924 से शुरू हुई थी।
📌 Railway Budget कब merge हुआ?
2017 में Railway Budget को Union Budget में merge कर दिया गया।
👉 Exam Question:
“In which year Railway Budget was merged with Union Budget?”
उत्तर: 2017
🏛 भाग 3 – बजट प्रस्तुति में बदलाव
📌 बजट की तारीख में बदलाव
पहले बजट फरवरी के अंतिम कार्य दिवस पर पेश होता था।
2017 से बजट 1 फरवरी को प्रस्तुत किया जाता है।
कारण:
ताकि नई योजनाएँ 1 अप्रैल से लागू की जा सकें।
📌 Halwa Ceremony
बजट printing शुरू होने से पहले North Block में Halwa Ceremony होती है।
यह secrecy की शुरुआत का प्रतीक है।
📌 बजट कहाँ छपता है?
North Block, New Delhi
🏛 भाग 4 – संवैधानिक प्रावधान
📌 Article 112
Annual Financial Statement
Union Budget Article 112 के अंतर्गत आता है।
📌 Article 110
Money Bill की परिभाषा
Budget एक Money Bill है।
🏛 भाग 5 – बजट की संरचना
📌 Budget के दो मुख्य भाग
1️⃣ Revenue Budget
2️⃣ Capital Budget
🔹 Revenue Budget
Revenue Receipts + Revenue Expenditure
Revenue Receipts
सरकार को मिलने वाली आय जिससे liability नहीं बनती।
Tax Revenue:
Income Tax
GST
Corporate Tax
Non-Tax Revenue:
Dividends
Fees
RBI surplus
Revenue Expenditure
ऐसा खर्च जिससे asset create नहीं होता।
उदाहरण:
Salary
Pension
Subsidy
Interest payment
🔹 Capital Budget
Capital Receipts + Capital Expenditure
Capital Receipts
Borrowings
Disinvestment
Capital Expenditure
ऐसा खर्च जिससे asset create होता है।
उदाहरण:
Roads
Railways
Defence equipment
🏛 भाग 6 – Deficit Concepts
📌 Fiscal Deficit
Fiscal Deficit = Total Expenditure – Total Revenue (excluding borrowings)
यह बताता है कि सरकार कितना उधार ले रही है।
GDP के प्रतिशत के रूप में व्यक्त किया जाता है।
📌 Revenue Deficit
Revenue Expenditure – Revenue Receipts
📌 Primary Deficit
Fiscal Deficit – Interest Payments
👉 Exam Trap:
Revenue deficit और Fiscal deficit में confusion होता है।
🏛 भाग 7 – GDP
📌 GDP क्या है?
एक वर्ष में देश में उत्पादित वस्तुओं और सेवाओं का कुल मूल्य।
📌 GDP की गणना के तरीके
1️⃣ Production Method
2️⃣ Income Method
3️⃣ Expenditure Method
Expenditure Formula:
GDP = C + I + G + (X – M)
📌 Nominal GDP vs Real GDP
Nominal GDP – Current prices
Real GDP – Inflation adjusted
📌 GDP Base Year
वर्तमान base year: 2011–12
🏛 भाग 8 – Inflation
📌 Inflation क्या है?
वस्तुओं और सेवाओं की कीमतों में वृद्धि।
📌 Measurement
Consumer Price Index (CPI)
📌 RBI Target
4% ± 2%
(2% से 6% के बीच acceptable)
🏛 भाग 9 – Economic Survey
📌 Economic Survey क्या है?
Budget से पहले Parliament में प्रस्तुत किया जाता है।
Prepared by Chief Economic Advisor.
📌 इसमें क्या शामिल होता है?
GDP growth rate
Inflation
R&D expenditure
Unemployment rate
Current Account Deficit
🏛 भाग 10 – Frequently Asked Facts
✔ First Budget of India – James Wilson
✔ First Independent Budget – R.K. Shanmukham Chetty
✔ Maximum Budgets – Morarji Desai
✔ Railway Budget Merge – 2017
✔ Budget Article – 112
✔ Money Bill Article – 110
✔ GDP Base Year – 2011–12
✔ Inflation Measured by – CPI
