Introduction

The Union Budget is an annual financial statement presented by the government of India to Parliament. It is usually presented on the first day of February so that it could be materialized before the beginning of the new financial year in April. The Union Budget consists of two parts: 1) Railway Budget2) General Budget

The Union Budget of India also referred to as the Annual Financial Statement in the Article 112 of the Constitution of India, is the annual budget of the Republic of India.

The Union Budget of India is the annual financial statement presented by the President of India. It is shown on 1st February every year, and it covers both public expenditure and revenue expenditure.

The budget speech for 2019 was delivered by Finance Minister Arun Jaitley on 15th February 2019 at Parliament’s Central Hall in New Delhi during a joint session of both Houses (Lok Sabha & Rajya Sabha) where all members can participate in this session which lasts 45 minutes or so.

In addition to presenting his annual budget speech, he also presents Railway Budget separately every year under Article 112(3) with regard to the Railway sector only because it has separate financial rules/regulations made by Parliament itself through its Rules Committee which reviews all Bills related specifically regarding railway service providers’ activities including fares, etc. before they are passed into law as Acts passed by both Houses unanimously after considering all suggestions received from stakeholders across India including railway unions, etc., who work closely together through various forums such as national level committees like National Rail Mazdoor Councils Boarders Association, etc..

Read this article to know what exactly is Union budget

The Union Budget is a statement of the government’s economic policy and spending. It is presented by the Finance Minister of India at the beginning of each year to Parliament and then tabled in both houses of Parliament within 15 days after it has been presented. The budget is usually presented on 1st February each year, but may be held later if there are special reasons for doing so (such as when an election is due).

The Union Budget contains all items listed in this article:

It contains a compilation of revenue and expenditure of the Government of India for a fiscal year that runs from April 1 to March 31.

The Union Budget is a statement of the estimated revenues and expenditures of the Government of India for a fiscal year that runs from April 1 to March 31. It is presented to Parliament by the Finance Minister on the last working day of February every year.

The Union Budget 2019 will be tabled in Parliament on February 27, 2019, as per schedule. The presentation will take place at 12:30 pm IST or 2:30 PM GMT+5:30 (Time difference between New Delhi and London).

The Budget is also termed as a Vote on Account if only expenditures are voted upon and Revenue Account if both revenues and expenditures are voted on.

The Budget is also termed as a Vote on Account if only expenditures are voted upon and Revenue Account if both revenues and expenditures are voted on.

The Vote on Account is a temporary provision for the government to continue its operations for a certain period of time. It is presented in Lok Sabha and passed by it. The government then presents this vote on account in Rajya Sabha where it becomes an act or law after being approved by both Houses of Parliament, which means that there will be no change in taxes or expenses without any discussion!

The budget is presented by the Finance Minister in Parliament on behalf of the President of India.

The budget is presented by the Finance Minister in Parliament on behalf of the President of India. The presentation of a Union Budget is part of parliamentary procedure, which means it has to be approved by both houses of Parliament before being enacted into law.

The budget speech is an important part of this process, as it outlines how much spending there will be and where it will go. It also allows for questions from MPs about specific projects or programs that need funding for their provinces or regions; these questions are often answered by answers provided at each point during the course of the debate.

R.K. Shanmukham Chetty presented the first Union Budget on November 26, 1947.

R.K. Shanmukham Chetty presented the first Union Budget on November 26, 1947. It was presented in the Constituent Assembly, where it was debated for three days and passed.

The Union Budget is a document that outlines financial plans for India’s government and its citizens. The purpose of this document is to provide information about how much money will be spent on different things in order to promote economic growth or development within India or at least give people an idea of what they can expect from their tax dollars if they are paying taxes themselves (taxes).

The Government presents it on the first day of February so that it could be materialized before the beginning of the new financial year in April.

The Union Budget is presented on the first day of February so that it could be materialized before the beginning of the new financial year in April. The Finance Minister presents it in Parliament and fulfills his constitutional obligation to present a budget for the year ahead.

Union Budget consists of two parts: 1) Railway Budget2) General Budget

The Union Budget consists of two parts:

• The Railway Budget is presented on the same day as the General Budget and covers issues related to railways.
• The General Budget covers all other departments and includes many other announcements that have nothing to do with railways.

The General Budget contains details about all other departments apart from railways.

The general budget is the first of its kind every year and it contains details about all other departments apart from railways.

The Railway Budget is presented separately and it is presented on the first day of February so that it could be materialized before the beginning of the new financial year in April. The financing requirements for various schemes are also included in this document.

There are four main divisions in General Budget–Revenue Budget, Capital Budget, Plan Expenditure, and Non-Plan Expenditure.

There are four main divisions in General Budget–Revenue Budget, Capital Budget, Plan Expenditure, and Non-Plan Expenditure.

• Revenue Budget: The revenue budget is the amount of money anticipated to be collected from taxes by the government during a given year. It includes both direct taxation (taxes on income) as well as indirect taxation such as excise duty on products like tobacco and alcohol.
• Capital Budget: The capital budget is an estimate of how much money will be spent on projects that are part of a five-year development plan for your country’s economy or infrastructure sector. This includes investment in buildings or roads; it does not include spending on things like salaries or interest payments during the construction phase because these items are considered operating expenses rather than investments related only to future growth potentials at specific locations within your jurisdiction (for example).

Conclusion

The Union Budget is a document that summarizes the financial activities of the Government of India.