The making of the Union Budget

The presentation of the Budget is the most important event in the economic calendar of India. The Budget is watched closely by industry participants, economists, markets and even the common man as they are all affected by tax rates and other proposals. Finance ministers often need to do a balancing act between encouraging growth and achieving the government’s fiscal targets. Preparing the budget is a long-drawn process for the finance ministry and the exercise takes months to be completed. The making of the Budget can be segregated in a few steps to understand the process.