InvestorQ : Is the Budget the same as Union Budget?
Aishwarya Nimbalkar made post

Is the Budget the same as Union Budget?

seema Upadhyaya answered.
2 years ago

Yes, the Budget is same as Union Budget. Most people, however, drop the ‘Union’ word in daily usage.

Budgets are created by the central government, the state governments as well as the municipal corporations. However, because the Centre makes the budget for the entire nation, it is known as Union Budget.

It is through the Union Budget that the central government plans its finances for a given financial year- April 1 to March 31. This budget document contains details on every front- revenue, debt, surplus, deficit, etc.

It not only specifies its expenditure but also lists its income targets as well as sources of income.