GOVERNMENT BUDGET
- According to Article 112 of the Indian Constitution, the Union Budget of a year is referred to as the Annual Financial Statement (AFS).
- It is a statement of the estimated receipts and expenditures of the
Government in a financial year
- a financial year begins on 01 April of the current year and ends on 31 March of the following year
- In Parliament, the Budget goes through six stages.
- They are the Presentation of the Budget, General discussion, Scrutiny by Departmental Committees, Voting on Demands for Grants, Passing of Appropriation Bill, and the passing of Finance Bill
- The Budget Division of the Department of Economic Affairs in the Finance Ministry is the nodal body responsible for preparing the Budget.
- The Union Minister of Finance presents the Budget
Samudrayaan Project
- It is India’s first manned mission to explore the deep ocean.
- The project is part of the larger Deep Ocean Mission, which supports the Central Government’s Blue Economy policy.
- It is a mission-mode project to support the Blue Economy Initiatives of the Government of India.
- It is aimed to develop a self-propelled manned submersible to carry three human beings to a water depth of 6,000 meters in the ocean with a suite of scientific sensors and tools for deep ocean exploration.
- It is designed to study the deep ocean resources and conduct biodiversity assessments as well.
- The mission will not disturb the ecosystem as the submersible is used solely for exploration purposes.
- Nodal Ministry: Ministry of Earth Sciences (MoES)