List of Union Budget Articles

Budget documents are not just numbers. Scrutinising them, one can understand the intention of the government, its priorities, policies and allocation of financial resources, among different regions & industries—which create a sea change in the lives of the people affected by it, Rajkumar Adukia stresses

The term Union Budget came to the fore because India is the Union of States. The Constitution of India has established the federal form of Government in India. Therefore, it is called the Union of States.

The Indian Union Budget is prepared by the Ministry of Finance in consultation with Niti Aayog and other concerned ministries. Also, the Budget division of the department of economic affairs (DEA) in the finance ministry is the nodal body responsible for producing the Budget.

The Union Budget of India contains a list of financial proposals and estimates and is generally referred to as the ‘Annual Financial Statement’ under Article 112 of the Constitution of India.

Revised Estimates are mid-year review of possible expenditure, taking into account the trend of expenditure, New Services and New Instrument of Services etc. Revised Estimates are not voted by the Parliament, and hence by itself do not provide a35ny authority for expenditure.

Budget documents are not just numbers. Scrutinising them, one can understand the intention of the government, its priorities, policies and allocation of financial resources, among different regions & industries—which create a sea change in the lives of the people affected by it, Rajkumar Adukia stresses

The Union Budget presented for 2017-18 was path-breaking in many ways. With it, the day of the budget presentation was shifted from the end of February to the first day of February.

Finance Minister presents the annual Union Budget in the Parliament generally on the last working day of February. The Budget is the most extensive account of the Government finances, in which revenues from all sources and expenses of all activities undertaken are aggregated.

The next Finance Minister, C.D. Deshmukh presented the first budget in the first elected Parliament on the basis of adult franchise.

A special provision is, therefore, made for "Vote on Account" by which Government obtains the Vote of Parliament for a sum sufficient to incur expenditure on various items for a part of the year.

The most accurate measure of economic prosperity of a country is its GDP per capita or per capita income. It is calculated by dividing the total GDP of the country by its total population.