Shifting Budget presentation date

  1. The presentation of the Union Budget has been advanced by a month, from last date of February to first date of February.
  2. The objective is to have the Budget constitutionally approved by Parliament and assented to by the President, and all allocations at different tiers disseminated to budget-holders, before the financial year begins on April 1.
  3. The new system will eliminate the need for the executive to obtain a vote-on-account budget approval to incur expenditure during the first two months.
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