Union Budget 2025: Know Date and Time of Budget Speech by Finance Minister

The Union Budget 2025, scheduled to be presented on February 1 around 11 AM, will mark the second full budget of the Modi 3.0 government. Our Union Finance Minister Nirmala Sitharaman will be presenting her eighth consecutive budget in Parliament this year at. Notably, the Budget tablet carried by the finance minister will be wrapped in the traditional Bahi-Khata-style pouch, a practice since 2019.

The Union Budget is an annual financial statement outlining the central government’s proposed revenues and expenditures for the upcoming fiscal year, spanning April 1 to March 31. It includes the government's policies on economic strategy, fiscal management, spending, and income generation.

How is the Union Budget Prepared?

The preparation process for the Union Budget begins approximately six months in advance, typically in September. It starts with the Finance Ministry issuing a budget circular to all ministries and departments, providing guidance for creating revised estimates for the current year and budget estimates for the next fiscal year.

In response, ministries and departments submit their revenue and expenditure details, including data on central taxes and duties, to the Finance Ministry as per the circular. Budget proposals are further consolidated into a Provisional Statement of Budget Estimates (SBE).

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By mid-October, high-level pre-budget discussions are conducted, chaired by the Secretary (Expenditure), to determine the budgetary ceilings for each ministry or department. Provisional revenue ceilings are then allocated, with objections or revisions addressed in consultation with the Finance Ministry, the Prime Minister, or the Union Cabinet.

Final Stages of Budget Preparation

After decisions are finalized, the Finance Minister’s Budget Speech is prepared with inputs from various government departments. Budget papers are printed at the Finance Ministry’s press, and entry to the press is heavily restricted during this period.

The last stage of the process involves the traditional 'Halwa Ceremony,' which marks the commencement of the lock-in period for officials involved in budget preparation. Before the Budget is tabled in Parliament, it is submitted to the President.

Finally, the Budget is presented in the Lok Sabha on February 1, followed by the introduction of a bill to implement the proposed financial measures

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