What is the duration of a Union Budget?

The Union Budget is the blueprint of the Government’s revenue and expenditure for a fiscal year, starting from 1st April of one year to 31st March of the following year.

What is the duration of a budget in India?

Usually, the duration of the presentation ranges from 90 to 120 minutes. Sitharaman’s Budget 2020 speech was the longest in terms of duration in independent India’s history. It continued approximately for two hours 40 minutes.

What time is budget presentation?

Schedule of budget 2021 The Finance Minister Nirmala Sitharaman will present the budget at 11 am on February 1, 2021, which happens to be a Monday. Ahead of the budget session, India’s chief economic advisor, Krishnamurthy Subramanian presented the economic survey on Friday.

What is the duration of Union Budget Class 12?

Description: Union Budget keeps the account of the government’s finances for the fiscal year that runs from 1st April to 31st March.

Who presented Union Budget maximum time?

Timeline. Morarji Desai has presented 10 budgets which is the highest count followed by P Chidambaram’s 9 and Pranab Mukherjee’s 8.

When Union budget is presented every year?

first day of February
The Union Budget of India, referred to as the Annual Financial Statement in Article 112 of the Constitution of India, is the annual budget of the Republic of India, presented each year on the very first day of February by the Finance Minister of India in Parliament.

Who presented the Union Budget 2020 2021?

Ms. Nirmala Sitharaman
The Finance Minister, Ms. Nirmala Sitharaman, introduced Budget 2021-22 on February 1, 2021, amidst the COVID-19 pandemic. 2020-21 was a non-standard year with respect to the performance of the economy and government finances.

What is the Article 112?

Under Article 112 of the Constitution, a statement of estimated receipts and expenditure of the Government of India has to be laid before Parliament in respect of every financial year which runs from 1st April to 31st March. This statement titled “Annual Financial Statement” is the main Budget document.

How many times budget is presented in India in a year?

India. The Union Budget of India, referred to as the Annual Financial Statement in Article 112 of the Constitution of India, is the annual budget of the Republic of India, presented each year on the very first day of February by the Finance Minister of India in Parliament.

What is Appropriation Bill in India?

The Appropriation Bill, also known as a Money Bill or the Finance Bill, permits the government to take money from the Consolidated Fund of India to cover expenses that may arise during a fiscal year. After presenting the Union Budget to Parliament, the government introduces the Appropriation Bill.