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The Explainer: What does the Budget consist of?

What does the Budget consist of? The Union Budget 2017–18 consists of the following:
(a)   Actuals for 2015–16,(b)   Budget Estimates for 2016–17,
(c)   Revised Estimates for 2016–17, and
(d)   Budget Estimates for 2017–18.

The Actuals for 2015-16 may be represented as such but they STILL would be PROVISIONAL only. This means that these figures are NOT the final figures for 2015–16 but are subject to further revision. In fact, the final figures for 2015–16 will only be available toward the end of Financial Year 2016–17 (or Fiscal Year ’17).

Budget Estimates (BE) relate to the figures which the Finance Minister set out in his Budget Speech last year (i.e., on 28 February 2016) for the Financial Year 2016–17.

In the fourth and last column, you will find Budget Estimates for the coming Financial Year 2017-18. These figures reflect the various estimates made by the Government in terms of Receipts (including tax collections) and Expenditures (including interest payments and salary payments to government employees).

Also read The Explainer: What does the Budget consist of?

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