WHAT IS INDIA'S UNION BUDGET?

The Annual Financial statement of India, or the Union Budget is announced every year on the last working day of February. This year, the new Budget came into effect from the 1st of April 2016. We wanted to understand the meaning of the Union Budget, and how it is divided among the different ministries of the government.

Here's a short video explaining the Union Budget of India:

 

To know how the Union Budget 2016 will affect you, watch this video on impacts of Budget 2016.

Do you want to know more about the way the budget is allocated in a financial year? Write to us on our Facebook and Twitter pages.

We sincerely thank CA Rishabh Parakh for his valuable inputs.

Suggested articles

What is the Krishi Kalyan Cess?

The government has recently introduced the Krishi Kalyan Cess to fund programmes for the welfare of farmers. On...

Why you could receive an Income Tax Notice

Any communication from the Income Tax department, be it a simple enquiry or an intimation or receiving a notice...

What should you do if you receive an Income Tax Notice?

A notice from the Income Tax department can be stressful, especially because many of us do not understand what ...