The government budget is a statement of estimates of the government receipts and government expenditures for the coming financial year. The financial year for India is the period from ___________ or __________.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. April 1 to March 31.
The financial year for India is the period from April 1st to March 31st of the following year. The government budget is a statement of estimates of the government receipts and expenditures for this financial year. This period is used for accounting and financial reporting purposes, aligning with the fiscal policies and planning of the government. The budget outlines the anticipated revenues and planned expenditures, guiding economic management and public administration for the upcoming year.