How is Union Budget made
The Union Budget of India, referred to as the Annual Financial Statement in Article 112 of the Constitution of India, is the annual budget of the Republic of India, presented each year on the last working day of February by the Finance Minister of India in Parliament. The budget, which is presented by means of the Financial Bill and the Appropriation bill has to be passed by the House before it can come into effect on April 1, the start of India’s financial year. This article explains what is Union Budget,who makes the Union budget,process of making Union budget,how is union budget printed,what are Union budge documents,How is it presented and how is it passed. The word Budget is derived from French word Bougette that means a Small Bag
Images are from the EconomicTimes Infographic about budget
Who makes the Union Budget
Basis of Union Budget is
How is the Union budget made
Printing of the Union Budget
Presentation of Union Budget
Sir, with these words, I commend the budget to the house.” These words, traditionally said at the end of the finance minister’s budget speech, mark the culmination of the first phase of the annual budget process.
How is Union Budget Passed
Hope it helped you understand making and passing of union budget? It seems like a circus with days before budget media talking about what budget should do, what people expect from budget, what corporates expect from budget. Then on budget day we have many quizzes and contests. Next few days are spent on dissecting the budget, what is does,is it good, what it lacks and then it is back to usual. Not being from financial background I used to just ignore it earlier. Then started taking interest in individual tax portion. Slowly through newspapers and blogs got interested in understanding the budget making process. Lots of thought,work goes into making of budget. But how effective these are only time tells.