Skip to main content

Understanding The Union Budget : Part-I

What is Union Budget? 
It is nothing but the Annual Financial Statement presented by Central government in Parliament.
It shows receipt and expenditure of government in financial year(1 April-31 March).

How can government get Money for Budget?
Government too have its account.We can describe it in three parts.

1. Consolidated Fund -
- revenue received by taxation and other
- loan raised by government
- recoveries of load granted by government
- expenditure incurred from this fund
- parliamentary authorization required

 2. Contingency Fund -                
- emergency or unexpected or unforeseen or urgent outflows such as economic crisis,disaster
- held by the finance secretary on behalf of the president of India

3.  Public Account -
- money received from transactions such as money raised from government schemes e.g Provident Fund,Saving Scheme
- government acts as banker
- government authorization not required
- in layman's term, money received from public is kept in this account and respective authority uses it
What are core parts of Budget?
It is mainly divided in Two Parts

1.  Revenue Budget
1.1  Revenue Expenditure
- Salaries of government employee,military staff,minister
- office furniture
- grants to state,interest paid for loan
- pensions
- Any expenditure for the normal running of the government which does not lead to the creation of assets

1.2 Revenue Receipt
- it is government earning
 - taxes (corporate, income), duties (excise, custom), receipts, fees, interest and dividends (if the government makes investments).

2.  Capital Budget
2.1 Capital Expenditure
- money spent on creating assets (roads, highways, dams), buying land or building, purchasing machinery and equipment.
- loans from the Centre to various state governments or government-run companies
- any investments made by the government in shares or other such instrument

2.2 Capital Receipt
- money that the government gets from loans such as from the public (market loans), from the Reserve Bank of India (the country's central bank), from foreign governments or international organisations like the World Bank, IMF
- Loans which the government earlier gave to other states or Union territories which are now repaid find their way

to be continue...


Popular posts from this blog

Get Browser Name and Version in Javascript

JQuery stopped providing $.browser function after 1.9 release.So you have to write your own code to get know browser and its version.There is not standard procedure or code to achieve this.
But I will show you to get browser name and version of  IE > 6, Google Chrome And FF.

Here we have AGENT to rescue.Every browser has navigation object available in its script.In this object userAgent field contains current browser information.

So you can ask me What is User-Agent?How will it help us?
          As I said earlier it contain browser information.There is not standard to show each information but almost every browser support it.
    There is complicated history behind user-agent variable.But in simple sense we can say that user-agent is used by server side component to get information of client-side browser and its compatibility to page it will going to rendered.So we conclude that this user-agent information is little bit 50% same in all browser.

Why is it(user-agent) 50% s…

Share data between Iframe and its Parent using JQuery

There could be requirement that you have to pass variables values to Iframe from parent or in other scenario you have to pass values from Iframe to its parent.I am going to show simple example of above situation with the help of JQuery.
           Support we have parent HTML page having iframe included like below

<html> <body> <input id="parentValue" type="text" value="I am from Parent !" /> <iframe src="domainurl/relativepath" id="iframe"></iframe> <script> $(document).ready(function() { //code to take value from child iframe var childValue = $("#iframe").contents().find("#childValue").val(); alert(childValue); }); </script> </body> </html> 
        and we have frame code like below
<html> <body> <input id="childValue" type="text" value="I …

Spring Default Limit for Collection and Array is 256

If you are working in Web Application Development then you may stuck or already had ,then you will get mad of getting this error

How this error emanates in Spring?

i will explain you with example.Suppose you are adding Values in List in JSP using JSTL tag or other.
This list is in Form(HTML).When you POST this form,In behind Stage,Spring does binding of Object and List if present.

But wait...
In Spring,Default limit for array and collection growing is 256.

Why this limit is Set?

seldom you have to send List size greater than this limit.
Spring has set this limit to avoid notable OutOfMemoryErrors in case of large indexes.

So,than What if i want to set Collection greater than this size?

I had told earlier,spring does binding behind.If we tell spring to increase it's size or set collection size behalf of spring.
You you can do it.

We have initBinder,  in Spring  it is called when spring does the binding mechanism
e.g @Mod…