Budget 2010 Ppt @ Bec Doms Bagalkot Mba


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Budget 2010 Ppt @ Bec Doms Bagalkot Mba
   PRESENTED BY :-BABASAB PATIL BUDGET    BUDGET DEFINATION  A budget is generally a list of all planned expenses and revenues. It is aplan for saving and spending. A budget is an important concept inmicroeconomics, which uses a budget line to illustrate the trade-offsbetween two or more goods. In other terms, a budget is an organizationalplan stated in monetary terms.  CENTRAL BUDGET: The central government budget is defined by law asa set of financial relationships securing the funding of certain roles of theState during the financial year. The budget consists of expected revenuesand estimated expenditure and is always prepared for the upcomingcalendar year.    Who prepares the budget? The responsible authority is the Ministry of Finance, which works with thedesignated heading administrators, local authorities and State funds. The resulting draftlaw on the central government budget is submitted by the Ministry of Finance to theGovernment for approval; the Government then submits this bill to the Chamber of Deputies. Purpose of Budget: 1) Provide a forecast of revenues and expenditures i.e. construct a model of how ourbusiness might perform financially speaking if certain strategies, events and plans arecarried out.2) Enable the actual financial operation of the business to be measured against the forecast  Direct taxes These are the taxes that are levied on the income of individuals or organizations. Income tax, corporate tax,inheritance tax are some examples of direct taxationIncome tax is the tax levied on individual income fromvarious sources like salaries, investments, interest etc. Indirect Taxes These are the taxes paid by the consumer when they buygoods and services. These include excise and custom duties.
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