Union Budget of India

The Union Budget of India is presented annually on February 1st by the Finance Minister.

• It outlines the government’s revenue and expenditure plans for the upcoming financial year.
• Since 2017, the budget is presented on February 1stto allow for implementation before the new financial year starts in April.
• Historically, the budget was presented on the last working day of February, but this was changed for better legislative approval.
• Article 112of the Indian Constitution mandates the presentation of the Union Budget.
• Article 113requires the Finance Minister to present the budget in Parliament.
• Article 114outlines the procedure for presentation and approval of the budget.