By Admin 
Budget 2026: The Union Finance Minister presents the Union Budget in Parliament every year, in which a detailed outline of the government’s income and expenditure for the upcoming financial year is presented. In simple words, the budget tells how the government will earn money in the next financial year and on which items it will be spent. Along with this, the structure of taxes is decided in the budget, due to which the general public, industry and business world are directly affected.
Before preparing this budget, the Finance Ministry consults with other ministries, industry organizations, representatives of the corporate world and various stakeholders. Constitutionally, the provision of budget is made under Article 112, which is called Annual Financial Statement. It contains complete details of the estimated income and expenditure of the Central Government for a financial year, along with how much budget has been allocated to each ministry, how much has been spent so far and how much additional amount is required for the remaining period.
A lot of expectations from the budget this year?
In the budget to be presented on February 1 for the financial year 2026-27, the government can take many important steps to boost the economy. In this, special emphasis is likely to be given on capital expenditure (capex) with the aim of accelerating infrastructure development. Apart from this, measures related to employment generation, promotion of manufacturing sector, relief for MSMEs, green energy and strengthening the digital economy can also be included in the major priorities of the budget. Let us today tell you about some interesting questions related to the budget and their answers, knowing about which you will be surprised.
Where did the word ‘budget’ come from?
The word ‘budget’ comes from the French word ‘boujet’, which means a small leather bag or briefcase, which was originally used to keep financial documents. This is the reason why earlier one used to bring a leather bag to present the budget.
Why is the budget presented every time on 1st February?
The Union Budget is presented every year on 1 February so that there is enough time to implement proposed laws or changes before the new financial year starts from 1 April. Another reason for this is to give enough time to the government to prepare and complete financial plans and economic strategies for the entire year.
What is the Halwa ceremony before the Budget?
A tradition that has been followed for a long time before the presentation of the Union Budget is the ‘Halwa Ceremony’. As part of this ritual, the Finance Minister usually makes halwa in a big pan, which is then distributed among all the employees of the Finance Ministry. This is also a major signal of the start of budget preparations, after which, for some time before the budget presentation, more than 100 employees and officers remain in the North Block, where the budget printing work is carried out. During this period, these employees remain completely cut off from the outside world.
Also read:
Why is the general budget presented only on 1 February? Know the whole story behind changing date and time