2.2.1. Presentation of Budget

From fiscal year 2017-2018, the consolidated budget would be presented whereby the hitherto existing Railway Budget would be merged in the General Budget. This consolidated budget would be presented by the Union Finance Minister. The rationale behind this move would be discussed later in this document.

The Budget is presented with a ‘Budget Speech’, which is in two parts: Part A contains ‘a general economic survey’ of the country and Part B ‘the taxation proposals’ for the ensuing financial year.

The Rules of Procedure and Conduct of Business in the Lok Sabha for Financial Legislation are as follows:

♤ The Annual Financial Statement or the Statement of the Estimated Receipts and Expenditure of the Government of India in respect of each financial year (also called 'the Budget') is presented to the House on such day as the President may direct.

♤ The Budget is presented to the House in such form as the Finance Minister may, after considering the suggestions, if any, of the Estimates Committee, settle.

♤ There shall be no discussion of the Budget on the day on which it is presented to the House.