Title Summary of Union Budget.pdf ✅

1 Visit us: pwonlyias.com Join Telegram Contact us: 9920613613 SUMMARY OF UNION BUDGET 2025-26 INTRODUCTION: Nirmala Sitharaman makes history by presenting her 8th consecutive Union Budget 2025-26, maintaining the record for the most consecutive budgets under a single Prime Minister. ABOUT BUDGET: According to Article 112 of the Indian Constitution, it is a statement of the estimated receipts and expenditure of the government for the upcoming financial year. 3⁄4 The Union Budget is also referred to as the Annual Financial Statement. 3⁄4 However, the word “Budget” is not mentioned in the Indian Constitution. Budget Period: April 1 to March 31 Prepared by: The Department of Economic Affairs, Ministry of Finance is the nodal body responsible for preparing the Budget. 3⁄4 The first Budget of Independent India was presented in 1947 Other Presented Documents: Besides the Budget Speech by the Union Finance Minister, other major Budget Documents presented to the Parliament are: