Highlights

  • The union budget is the annual financial statement of the govt
  • It included the budgeted receipts and expenditures of the government for a fiscal year

Latest news

SC directs all convicts, undertrials released during pandemic to surrender in 15 days

SC directs all convicts, undertrials released during pandemic to surrender in 15 days

WPL Eliminator: The Nat Sciver-Brunt & Issy Wong show sends Mumbai Indians through to the final

WPL Eliminator: The Nat Sciver-Brunt & Issy Wong show sends Mumbai Indians through to the final

North Korean underwater drone can trigger radioactive tsunami: reports

North Korean underwater drone can trigger radioactive tsunami: reports

Transgender flight attendant found dead after sharing an emotional note

Transgender flight attendant found dead after sharing an emotional note

Congress to launch nationwide protests against Rahul's 'deliberate' disqualification from Monday

Congress to launch nationwide protests against Rahul's 'deliberate' disqualification from Monday

Budget 2023: Budget basics explained

Budget 2023: The union budget will be presented at 11 AM on February 1 by the finance minister of India, Nirmala Sitharaman.  

Union Budget 2023: As the Budget 2023 approaches, Editorji breaks down the what, why and when of the budget presentation.

What is a union budget?
The union budget is the annual financial statement prepared by the Finance Ministry that includes budgeted receipts and expenditures of the government for a fiscal year. A fiscal year starts from April 1 and ends on March 31.

Details of the event
The budget will be presented at 11 AM on February 1 by the finance minister of India Nirmala Sitharaman. The budget used to be presented on the last day of February before 2016 after which the date was changed to February 1st.

The budget speech
The presentation could last anywhere from 90 to 120 minutes. The longest presentation by the finance minister was of two hours and 40 minutes in 2020 budget speech.

The two parts of the budget
Broadly there are two parts of the budget. The first one includes the prevailing economic condition and the budgeted expenditure of the government for the upcoming financial year. The second part of the speech focusses on the govt's taxation proposals.

Up Next

Budget 2023: Budget basics explained

Budget 2023: Budget basics explained

The India Story | Union Budget 2023: key takeaways

The India Story | Union Budget 2023: key takeaways

Budget 2023: Smoking to get more expensive

Budget 2023: Smoking to get more expensive

Budget 2023: Insurance stocks tank

Budget 2023: Insurance stocks tank

Budget 2023: switching to new tax regime not necessary, says FM; elaborates on personal I-T changes

Budget 2023: switching to new tax regime not necessary, says FM; elaborates on personal I-T changes

Budget 2023: Here's a list of 5 big key takeaways

Budget 2023: Here's a list of 5 big key takeaways

More videos

Finance minister explains four key points of Union Budget 2023

Finance minister explains four key points of Union Budget 2023

Budget 2023: The big numbers

Budget 2023: The big numbers

Budget 2023 | Explained: tweaks to the personal tax regime

Budget 2023 | Explained: tweaks to the personal tax regime

Budget 2023: What's cheaper, what's costlier? Cigarette, phone, TV, electric car parts duties changed

Budget 2023: What's cheaper, what's costlier? Cigarette, phone, TV, electric car parts duties changed

Union Budget 'not futuristic', 'anti-people': Mamata Banerjee

Union Budget 'not futuristic', 'anti-people': Mamata Banerjee

Budget 2023: PM Modi calls it a budget for the aspirational society

Budget 2023: PM Modi calls it a budget for the aspirational society

Opposition leaders criticise Union Budget 2023, say it doesn't address key issues

Opposition leaders criticise Union Budget 2023, say it doesn't address key issues

Budget 2023: No income tax upto ₹7 lakhs slab for the new regime

Budget 2023: No income tax upto ₹7 lakhs slab for the new regime

Budget's big numbers: ₹45 lakh crore, ₹27 lakh crore, 5.9% - earning, spending, fiscal deficit estimates

Budget's big numbers: ₹45 lakh crore, ₹27 lakh crore, 5.9% - earning, spending, fiscal deficit estimates

Budget 2023: amid Sonam Wangchuk's protest, ₹20,700 crore renewable energy evacuation plan from Ladakh

Budget 2023: amid Sonam Wangchuk's protest, ₹20,700 crore renewable energy evacuation plan from Ladakh

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.