Harshita Nahar, BA LLB, School of Law, Bhubaneswar
INTRODUCTION
The Union Budget or Annual Financial Declaration, as codified in Article 112 of the Indian Constitution, is a statement of the government's expected receipts and expenditures for the fiscal year. The Union Budget accounts for the government's finances during the fiscal year that runs from April 1st to March 31st. The Union Budget is divided into two parts: revenue budget and capital budget.
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