What is the Union Budget of India?

The Union Budget is the annual financial statement of the Government of India, presented by the Finance Minister, detailing its estimated revenues and expenditures for the upcoming fiscal year (April 1 to March 31).

When is the India Budget typically presented?

The Union Budget is usually presented on February 1st each year. In an election year, an Interim Budget might be presented, followed by a full budget after the new government is formed.

Who presents the Union Budget in India?

The Union Budget is presented by the Finance Minister of India in the Parliament.

What are the key components of the Union Budget?

The Budget primarily consists of the Revenue Budget (revenue receipts and expenditures) and the Capital Budget (capital receipts and expenditures), along with a Finance Bill proposing tax changes.

How does the India Budget impact citizens?

The Budget impacts citizens through changes in direct and indirect taxes, subsidies, allocations for social schemes, infrastructure projects, and overall economic policies affecting inflation, employment, and investment.