A glossary of terms used in Budget

Disinvestment Receipts
The term refers to the money raised by the Government through disinvestment, or the sale of its equity stake in companies it owns.
Fiscal Responsibility and Budget Management Act
The Act is an attempt to make the Government adhere to a phased plan to reduce fiscal deficit, which denotes an excess of expenditure over revenue.
Dividend Distribution Tax
This is a tax levied on companies that pay out dividends to its shareholders, i.e. share a portion of earnings with them.
Venture Capital Funds
These are funds that invest in startups, a financially riskier proposition than investing in established companies.
Securities Transaction Tax
It is a tax on all transactions done over the stock exchanges involving securities such as shares, derivatives, and equity-linked mutual funds.
Wholesale Price Index (WPI)
It is a measure of inflation, or price change, arrived at after regularly measuring the prices of a slew of wholesale goods.
Consumer Price Index (CPI)
It is a measure of inflation, or price change, arrived at after regularly measuring the prices of a slew of household goods and services.
Capital Gains Tax
It is a tax on the gains that ensue when an asset is sold for a price higher than what it was bought for.
Ad Valorem Tax
This is charged as a percentage of the value of a good or service, not at a specific rate per unit.
Advance Pricing Agreement (APA)
It is an agreement between a taxpaying entity and the taxman that indicates how the former will price transactions with its associates.