Budget ABSTRACT

 A Study on Budgeting System in Federal System 2020-2021

ABSTRACT:

The main purpose of study is to represent the systematic view , concept, performance on budgeting system with the help of Annual Financial Statement (AFS) which is provided under Article 112 of Indian constitution. An Annual Financial Statement (Budget) is detailed explanation of income, expenditure and allocation of funds for future plans of a country. It plays a key role in every country economy. It is a key for business entrepreneurship. This year budget have generated a lot of interest among the people because the government have proposal target to achieve 5 trillion dollar economy by 2024.As the country presently facing high inflation from last few months. This budget had become a crucial step for the government. The Indian Economy needs to clock a 10 percent – plus growth rate to hit a size of $ 5 trillion within timeframe. According to the Economic Times survey, only 29.3% of the respondents believes that the 5 percent growth rate is just temporary and the economy will start firing on all cylinders. But then, 37 % believe that a positive reform trajectory is needed to get India’s flailing economic growth back on track. Nearly 12% believe that the period of a fast-growing Indian Economy is over. 

KEYWORDS: Trillion Dollar Economy, Entrepreneurship, economic times survey report.