Union Budget 2020: Some facts you may not know - Photos-1
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Union Budget 2020: Some facts you may not know

What is a Union Budget?

Under Article 112 of the Constitution of India, the central government is constitutionally bound to lay down the 'annual financial report' of the country. This report is commonly known as the Union Budget of India. The Union Budget holds the same character as the budgets of other levels of government, except in the source of revenue and expenditure. The Union Budget also includes the Finance Bill and Appropriation Bill, both of which are to be passed by both Houses of Parliament before implementation on April 1 of the new financial year.
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