Highlights of Union Budget 2016-17 of India
The Union Budget 2016-17 is likely to be Presented on Feb 29, 2016. As per Sources, Hon’ble Minister of State for Finance, Sh. Jayant Sinha said on Thursday January 14, 2016 that Sh. Arun Jaitley, Hon’ble Finance Minister, GOI will present the Union Budget for 2016-17 on February 29.
The Union Budget of India, also referred to as the Annual financial statement in the Article 112 of the Constitution of India, is the annual budget of India. It is presented each year on the last working day of February by the Finance Minister of India in Parliament.
The budget, which is presented by means of the Financial bill and the Appropriation bill has to be passed by the Houses before it can come into effect on April 1, the start of India’s financial year.