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BUDGET PRIMER -BUDGET 2015. Finance minister Arun Jaitley will present the Union budget for 2015-16 on Saturday, the National Democratic Alliance government's first full-year budget. The REMAKING budget is the most keenly awaited policy document in India's economic calendar. It is not just a statement of accounts, but a charter of the government's economic INDIA policies. Behind the budget documents is a long and complex policymaking process. Mint attempts to simplify the whole process and present the steps involved in making the budget, the factors and the people involved. MINT Compiled by Asit Ranjan Mishra and Remya Nair/Mint; illustrations by Yatish Asthana/Mint The process of discussions with various stakeholders and ministries starts much before the budget is presented. In September, the expenditure arm of the finance ministry starts exhaustive consultations with line ministries about receipts and expenditure numbers. Simultaneously, internal discussions are also held between the various arms of the finance ministry to finalize the spending priorities and revenue mobilization in line with the policy goals of Around October-November, the Planning Commission starts discussions with line ministries and departments of the central government to finalize allocations for individual departments. After, the Planning Commission was abolished and replaced with the Niti Aayog, the expenditure department of the finance ministry conducted the task. In January, the government holds pre-budget consultations with various stakeholders such as the industry lobbies, agriculturuists, economists, trade unions, non-government organizations and bankers. These groups present their demands which include tax incentives or other steps required to provide a boost to their While preparing the upcoming budget, Jaitley faces the unenviable task of boosting public expenditure in the absence of private investment demand while still meeting the government deficit targets. Jaitley will also be keenly watched for measures that he would lay down to boost both consumer and investor sentiments the government. individual sectors or for the economy as a whole. The budget-making process is done under complete secrecy with media persons banned from North Block from the first week of January. The corridors of North Block are closely guarded by close circuit cameras and Intelligence Bureau officials. All efforts are made to ensure that there is no breach of A week before the budget, officials closely involved in the budget-making process are completely cut off from the outside world. Such tight security measures have ensured that there have been no leaks. The budget documents are also printed in a printing press located in the basement of North Block. Officers of the Press Information Bureau (PIB), the government's public relations arm, are pressed into operation one day before the budget. A team of PIB officials are tasked with preparing press releases in three languages-English, Hindi and Urdu. The officials are also held in confinement till the time the speech is delivered by the finance minister. The cabinet is shown a gist of the budget 10 minutes before Parliament meets on budget day. security in the run-up to the budget. FEBRUARY MARCH APRIL MAY 23 February Budget session of Parliament begins 26 February 28 February • The Union budget to be presented by Jaitley in Parliament 31 March 27 February Economic 21 March 8 May Railway budget to be presented by Suresh • A month-long break in budget session from 21 March to 19 April Vote on Account-approval for the government to make necessary expenditure in the new financial year-needs to be passed before 31 March Budget session ends survey Prabhu


shared by Yatish-asthana on Oct 21
Editorial info-graphic designed for Mint newspaper, on how Union Budget of India is made every year.


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