Finance ministry starts 'Know Your Budget' series on Twitter to educate people about budgetary process

New Delhi: Seeking to educate the general public about the budgetary process, the finance ministry on Tuesday started a series on Twitter providing definitions of various terms used in the budget.The 'Know Your Budget' series, which explains the importance of Union Budget and its making, would continue for about a fortnight.The government on 1 February would unveil the interim Budget for 2019-20 as the general elections are due in the next couple of months. The final Budget for the next fiscal would be presented by the new government.The series which began on the ministry's Twitter handle on Tuesday explained what is Union Budget and Vote on Account.The Budget, the ministry explains, "is the most comprehensive report of the government's finances in which revenues from all sources and outlays for all activities are consolidated."The Budget also contains estimates of the government's accounts for the next fiscal year called Budget estimates".Explaining Vote on Account, the ministry said it is a grant made in advance by Parliament for expenditure for a part of the next financial year.Follow full coverage of Union Budget 2019-20 here  To keep watching India’s No. 1 English Business News Channel – CNBC-TV18, call your Cable or DTH Operator and ask for the Colors Family Pack (inclusive of 24 channels), available for Rs. 35/- per month, or subscribe to the channel for Rs. 4/- per day. To keep watching the Leader in Global Market & Business News – CNBC-TV18 Prime HD, call your Cable or DTH Operator and ask for the Colors Family HD Pack (inclusive of 25 channels), available for Rs. 50/- per month, or subscribe to the channel for Rs. 1/- per day.