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Business News/ Politics / Policy/  How the Union budget is made

How the Union budget is made

On 1 February, finance minister Arun Jaitley will present to most significant budget of the Narendra Modi government. Here's a behind the scenes look at the budget process

Photo: PTIPremium
Photo: PTI

Finance minister Arun Jaitley is going to present the most significant budget of the Narendra Modi government that comes in the immediate backdrop of demonetisation meant to wipe out black money and counterfeit notes that has caused significant disruptions in the economy.

The 2017-18 budget will also see many departures from the past. It will be presented a month in advance on 1 February as against the traditional practice of presenting it on the last day of February. The rail budget will be merged with the Union budget and the finance minister will present a single comprehensive budget. This budget will also do away with the distinction of plan and non-plan expenditure replacing it by capital expenditure and revenue expenditure classification. This will provide a clear distinction between productive and recurrent spending trends.

Here is a low-down of what goes behind the scene in making the budget.

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Published: 24 Jan 2017, 01:33 AM IST
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