Union Budget 2019
Finance Minister Nirmala Sitharaman is set to present the Budget 2019 on July 5. This will be the first Budget of the Modi government after winning the Lok Sabha elections.
Union Budget is an annual financial statement of estimated receipts and expenditures of the Government of India. Under Article 112 of the Constitution of India, the central government is constitutionally bound to lay down the ‘annual financial report’ of the country. Budget document details how much money the Union government expects to raise in the coming financial year, and how and where it intends to spend that money.
The Budget is prepared by the Finance Ministry in consultation with other ministries. Officials from the ministry also hold talks with the private sector, non-governmental organisations and other stakeholders.