<p>The <a href="https://www.deccanherald.com/union-budget-2025">Union Budget 2025</a> is set to be presented by Finance Minister Nirmala Sitharaman on February 1, 2025. </p><p>Union Budget, presented before the Parliament for every forthcoming financial year, is an annual financial statement with estimated receipts and expenditure of the Indian Government.</p><p>Union Budget holds a pivotal place in the funding of a government and shaping its economy, outlining the policy structure of the country.</p><p>Aiming for a balanced economic growth, a budget requires months of planning to formulate it demanding several departments of the government to work together.</p>.<p>Though Union Budget (speech) is presented by the Finance Minister but a whole lot of people are involved backstage in the preparation of it.</p><p>The Union Budget is prepared by the Budget Division under the Department of Economic Affairs, which operates under the Union Ministry of Finance.</p><p>The process begins about six months prior to the presentation of the budget, around August-September of the previous year.</p><p>the union Finance Ministry issues circulars to all ministries, states and union territories for them to prepare estimates for the upcoming financial year.</p> .<p>All the ministries, states and UTs put forward their revenues and expenses from the previous year, adding to the estimates.</p><p>The proposed estimates by all the ministries, states and UTs are received, reviewed by the Revenue Department and other top officials and then sent to the Finance Ministry.</p><p>A comparison of the estimated revenues and expenditure is done by the Finance Ministry to find and calculate the overall budget deficit.</p><p>The Chief Economic Advisor is consulted to have an overview of the budget deficit, followed by the Finance Ministry allocating revenue (budget) to different ministries and departments.</p><p>The Finance Ministry holds pre-budget consultations about the budget allocations with stakeholders, trade unions, economists, bankers and other state representatives.</p><p>After getting an approval following consultations, the Finance Minister goes in for a discussion with the Prime Minister about the tentative budget.</p><p>The Union Budget is finally presented by the Finance Minister in the Lok Sabha after an approval by the President.</p>
<p>The <a href="https://www.deccanherald.com/union-budget-2025">Union Budget 2025</a> is set to be presented by Finance Minister Nirmala Sitharaman on February 1, 2025. </p><p>Union Budget, presented before the Parliament for every forthcoming financial year, is an annual financial statement with estimated receipts and expenditure of the Indian Government.</p><p>Union Budget holds a pivotal place in the funding of a government and shaping its economy, outlining the policy structure of the country.</p><p>Aiming for a balanced economic growth, a budget requires months of planning to formulate it demanding several departments of the government to work together.</p>.<p>Though Union Budget (speech) is presented by the Finance Minister but a whole lot of people are involved backstage in the preparation of it.</p><p>The Union Budget is prepared by the Budget Division under the Department of Economic Affairs, which operates under the Union Ministry of Finance.</p><p>The process begins about six months prior to the presentation of the budget, around August-September of the previous year.</p><p>the union Finance Ministry issues circulars to all ministries, states and union territories for them to prepare estimates for the upcoming financial year.</p> .<p>All the ministries, states and UTs put forward their revenues and expenses from the previous year, adding to the estimates.</p><p>The proposed estimates by all the ministries, states and UTs are received, reviewed by the Revenue Department and other top officials and then sent to the Finance Ministry.</p><p>A comparison of the estimated revenues and expenditure is done by the Finance Ministry to find and calculate the overall budget deficit.</p><p>The Chief Economic Advisor is consulted to have an overview of the budget deficit, followed by the Finance Ministry allocating revenue (budget) to different ministries and departments.</p><p>The Finance Ministry holds pre-budget consultations about the budget allocations with stakeholders, trade unions, economists, bankers and other state representatives.</p><p>After getting an approval following consultations, the Finance Minister goes in for a discussion with the Prime Minister about the tentative budget.</p><p>The Union Budget is finally presented by the Finance Minister in the Lok Sabha after an approval by the President.</p>
