Gujarat Budget 2019-20 Declared By go. Finance Minister Nitinbhai Patel.
The economy of Gujarat, a state in Western India, has significant agricultural as well as industrial production within India. Major agricultural produce of the state includes cotton, groundnuts (peanuts), dates, sugar cane, milk and milk products. Industrial products include cement and petrol. Gujarat recorded the lowest unemployment rate in India in 2015, with 1.2% of the labour force being unemployed.
A budget is an estimation of revenue and expenses over a specified future period of time and is usually compiled and re-evaluated on a periodic basis. Budgets can be made for a person, a family, a group of people, a business, a government, a country, a multinational organization or just about anything else that makes and spends money. At companies and organizations, a budget is an internal tool used by management and is often not required for reporting by external parties.
A budget is a microeconomic concept that shows the trade-off made when one good is exchanged for another. In terms of the bottom line – or the end result of this trade-off – a surplus budget means profits are anticipated, a balanced budget means revenues are expected to equal expenses, and a deficit budget means expenses will exceed revenues.
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