What is the Union Budget in India?

The Union Budget is the government's annual financial statement detailing its expected income and planned expenditure for the next fiscal year.

When is the Indian Budget presented?

Since 2017, the Union Budget is presented on February 1st each year.

Why is the Budget important for India?

The Budget outlines government's financial strategy, tax policies, and allocation for citizen welfare and economic development.

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Budget: India's Yearly Money Map

2 Dec

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Summary

The Union Budget outlines government's expected earnings and spending.
It details policy changes for taxes and citizen schemes.
Budget presentation moved to February 1 since 2017 for timely approvals.

The Union Budget is the Indian government's comprehensive annual financial plan. It meticulously outlines anticipated revenue and proposed expenditure for the ensuing fiscal year, alongside significant policy adjustments concerning taxation and various citizen and business support schemes. This yearly fiscal blueprint acts as a crucial guide for national economic planning.

To enhance efficiency, the presentation date for the Budget was shifted to February 1st, commencing in 2017. This alteration aims to provide ample time for parliamentary deliberation and approval before the dawn of the new financial year on April 1st.

This standardized timeline ensures that ministries can commence their planned spending activities without any interruptions or the need for provisional funding. It streamlines the budget execution process, fostering timely implementation of developmental projects and government initiatives across the country.

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