Budget process

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Querist : Anonymous

Querist : Anonymous (Querist)

13 March 2012 what is the budget process presented by the finance minister....is it final or subject to approval in parliament or any other authority?

swasti

swasti (Expert)
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14 March 2012 The annual India budget has to be passed by the House of the parliament before it can come into effect on April 1, the start of India's financial year. The Indian parliament has one month to review and modify the government's budget proposals. If by April 1, the parliamentary discussion of the budget has not been completed, the budget as proposed by the minister of finance goes into effect and subject to retroactive modifications after the parliamentary review.