You have heard the strange peeve of the budget. Whenever the government introduces the budget, every budget has a different character. Not only the budget is accountable for the whole year's government, but there are signs of what can happen in the future.
Many budgets presented in India are remembered for their special characteristics. That's why a budget is called the Black Budget, one budget was called Rollback Budget and a Budget was called Dream Budget.
Rollback budget
Yashwant Sinha presented the budget in the NDA government in the year 2002-03. This budget is called rollback budget. Yashwant Sinha had to return many of his proposals in this budget. They had reduced the subsidy on fertilizer. Apart from this, tax deduction in section 88 also decreased.
Along with this, the prices of LPG, kerosene and sugar were increased. Sinha had also lowered interest rates on small savings schemes. Because of this, many of the proposals had to be withdrawn, due to this, this budget was called rollback budget.
Dream budget
In 1997, P Chidambaram presented the budget. That year he presented the dream budget. In this budget, he made major cuts in corporate tax and income tax. They reduced surcharges on corporate taxes. Along with custom duty 50% to 40%
Within a month, the Devgoda government fell, and this budget has little effect.
Black budget
In 1973, Yashwantrao B Chavan presented the budget in the government of Indira Gandhi as finance minister. This budget is called a black budget. There was a loss of Rs. 550 crores in this budget. Apart from this, it is called the Black Budget for another reason.
Nationalization of coal mines was also announced in this budget. The government had to meet coal demand for steel, power and cement sector. For this reason these steps were taken. Due to this, coal production in India was affected in future and India had to depend on import of coal. Will Finance Minister Nirmala Sitharaman present this dream budget this time only on July 5, 2019?
