Budget Trivia: Know how Union Budget is different from State Budget

Finance Minister of India, Nirmala Sitharam is going to present the first finance budget of Narendra Modi led 2.0 government. Like every central budget, the state government also presents its budget every year. Do you know how state and central budget are different and where they also match?

Union Budget

The finance ministry of India presents the Union budget every year and with the budget, the government plans the expenditure for next year. In this budget, how the government will spend their money and from where they will collect taxes is decided.

Union budget is planning of expenditure and different kind of investments of the government. With this what will be the tax rates of the government. The whole finance ministry prepares the union budget and after a hard work of a few months, it presents in the parliament.

State Budget

As the Central government, the state government also presents its budget every year. If we talk about similarities then state government presents the plan of spending money for the development of the state. State transport expenditures is one of the few examples.

As some other necessities like Health, Electricity, Land Development and others also includes in the state budget.