The 2025-2026 budget includes a variety of documents that provide an overview of the Indian government's financial plans. These documents are presented to the Parliament and are also available online. Here's a summary of the key documents and their contents: Mandated Documents Annual Financial Statement (AFS): This document, mandated by Article 112 of the Constitution, details the government's estimated receipts and expenditures for 2025-26, along with estimates for 2024-25 and actual figures for 2023-24. The AFS is divided into three parts: the Consolidated Fund of India, the Contingency Fund of India, and the Public Account of India. It also distinguishes between revenue and capital expenditure. Demands for Grants (DG): Mandated by Article 113 of the Constitution, these documents present the expenditure estimates from the Consolidated Fund of India that require Lok Sabha approval. There is generally one demand for each Ministry or Department, and in Budget 2025-26 there are 102 Demands for Grants. Each demand presents the totals of voted and charged expenditure, revenue and capital expenditure, and the grand total. It includes estimates under major heads of account, recoveries, and the net expenditure amount.Finance Bill: This bill, mandated by Article 110 (1)(a) of the Constitution, details the proposed tax changes, including imposition, abolition, remission, alteration, or regulation of taxes. It also includes other budget-related provisions that classify as a Money Bill. Fiscal Policy Statements Macro-Economic Framework Statement: Presented under the Fiscal Responsibility and Budget Management (FRBM) Act of 2003, this statement assesses the economy's growth prospects and includes assumptions regarding GDP growth, the domestic economy, external sector stability, and the fiscal balance of the central government.Medium-Term Fiscal Policy cum Fiscal Policy Strategy Statement: Also presented under the FRBM Act of 2003, this statement sets three-year rolling targets for fiscal indicators like fiscal deficit, revenue deficit, primary deficit, tax revenue, non-tax revenue, and central government debt. It includes assumptions, an assessment of revenue and expenditure balance, and the use of capital receipts. Explanatory Documents Expenditure Budget: This document consolidates the estimates made for a scheme/programme and shows it on a net basis at one place. It classifies expenditures under broad umbrellas of Centres’ Expenditures and Transfers to States/Union Territories and includes explanatory notes.Receipt Budget: This document analyzes the receipt estimates of the Annual Financial Statement, detailing tax and non-tax revenue receipts and capital receipts. It includes a statement on arrears of tax and non-tax revenues, trends of receipts and expenditure, deficit indicators, statements related to the National Small Savings Fund, liabilities, guarantees, and assets.Expenditure Profile: This document provides an aggregation of various expenditures and items across demands. It is presented net of recoveries. It includes statements on major variations between budget estimates, contributions to international bodies, gender budgeting, schemes for Scheduled Castes and Tribes, schemes for children, autonomous bodies, and funds in the Public Account.Budget at a Glance: This document provides a brief overview of receipts and disbursements, tax revenues, other receipts, resources transferred to states/UTs, and deficits of the central government.Memorandum Explaining the Provisions in the Finance Bill: This document explains the taxation proposals in the Finance Bill and their implications.Output Outcome Monitoring Framework: This document outlines the outputs and outcomes of various central sector and centrally sponsored schemes, including measurable indicators and targets for FY 2025-26.Key Features of Budget 2025-26: This document provides a summary of the government’s economic vision, major policy initiatives, and key budget proposals for the fiscal year 2025-26.Implementation of Budget Announcements 2024-25: This document summarizes the implementation status of the announcements made in the 2024-25 budget speech. Key themes of the Budget The Budget for 2025-26 focuses on: Spurring Agricultural Growth and Productivity with the Prime Minister Dhan-Dhaanya Krishi Yojana, the National Mission on High Yielding Seeds, a Makhana Board in Bihar, and the Mission for Cotton Productivity. It also includes enhanced credit through Kisan Credit Cards and promoting self-sufficiency in pulsesBuilding Rural Prosperity and Resilience through a multi-sectoral program focusing on women, young and small farmers, landless families, and rural youth to generate employment through skilling, investment, and technology.Taking Everyone Together on an Inclusive Growth path focusing on measures for Garib, Youth, Annadata, and Nari.Boosting Manufacturing and Furthering Make in India by supporting MSMEs, labour-intensive sectors, and the food processing industry, as well as establishing a National Manufacturing Mission.Investing in people, economy and innovation with the Urban Challenge Fund, SWAMIH Fund-2, Maritime Development Fund, and PM Research Fellowship.Promoting Exports with the Export Promotion Mission and BharatTradeNet.Reforms are considered the 'fuel' for development, including reforms in taxation, the power sector, urban development, mining, the financial sector, and regulatory frameworks. Financial Highlights The budget includes a revision in the classification criteria for MSMEs, an enhancement of credit availability with guarantee cover and credit cards for micro enterprises.There is a focus on infrastructure with 50-year interest-free loans to states and incentives for reforms.The budget also includes an asset monetization plan to generate capital for new projectsThe Jal Jeevan Mission is extended to 2028There is an allocation of ₹ 20,000 crore for private sector driven Research, Development and Innovation initiatives and ₹ 15,000 crore for the SWAMIH Fund-2.The government aims to increase the FDI limit for the insurance sector from 74% to 100%.There are various tax reforms and changes, including a new income tax bill, personal income tax reforms, and rationalisation of TDS/TCS.The budget also includes changes to customs duties and GST. These documents together provide a detailed picture of the government's financial plans, policy priorities, and development goals for the fiscal year 2025-2026.

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