Union budget of India

The Union Budget of India, also known as the Annual Financial Statement under Article 112 of the Indian Constitution, is the country's annual financial plan prepared by the Ministry of Finance. It outlines the government's expected revenues, collected by the Department of Revenue, and planned expenditures, managed by the Department of Expenditure. The budget serves as a financial blueprint for the upcoming fiscal year, forecasting economic conditions and aligning the Government of India's spending with its policy objectives.

The Government of India presents the Union Budget on the first day of February to ensure its implementation before the commencement of the new financial year in April. Prior to 2016, the budget was presented by the Finance Minister in the Parliament on the last working day of February. The Budget Division of the Department of Economic Affairs, within the Ministry of Finance, is the primary body responsible for preparing the budget.

The Union Budget is presented through the Finance Bill, and the Appropriation Bill must be passed by the Lok Sabha before it can take effect on April 1, the beginning of India's financial year.

Ever since television became ubiquitous, the Union Budget has been broadcast live from Sansad Bhawan on DD National, DD News, and Sansad TV. The presentation typically runs uninterrupted from 11 AM to 1 PM, followed by a panel discussion that assesses the changes, benefits, and shortcomings of the budget. Additional budget documents and materials are available on the official budget website and the Union Budget mobile app.

The Rail Budget—which was presented separately since the past 92 years—was merged with the Union Budget in 2016.

Since 1947, there have been a total of 73 annual budgets, 14 interim budgets, and four special or mini-budgets.