Budget 2019: A glossary of terms used in Budget

New Delhi: The Union Budget 2019-20 will be presented on July 5 by finance minister Nirmala Sitharaman. It will be NDA 2.0 government’s first full budget after the 2019 Lok Sabha election win. This will be Sitharaman’s maiden Budget.

Apart from finance minister’s Budget speech, the list of Budget documents presented to the Parliament include Annual Financial Statement (AFS), Demands for Grants (DG), Finance Bill, Statements mandated under FRBM Act ( Macro-Economic Framework Statement and Medium-Term Fiscal Policy cum Fiscal Policy Strategy Statement), Expenditure Budget, Receipt Budget, Expenditure Profile and Budget at a Glance.

Ahead of Budget, learn about outcome Budget and more

1. Outcome Budget: It is a technique used to design the budget. It suggests a listing of the projected outcomes under various schemes programmes. Each Ministry presents a preliminary Outcome Budget to the Ministry of Finance, which is responsible for compiling them.

2. Official exchange rate: It is the rate at which the Reserve Bano of India (RBI) buys and sells the domestic currency in terms of a foreign currency such as the US dollar.