Government budgeting in India is a structured process that plays a vital role in national economic management. It outlines the government’s expected revenue and planned expenditure for a financial year. Presented annually by the Finance Minister in Parliament, the budget ensures transparency, accountability, and efficient allocation of resources. The main objectives include economic growth, social equity, fiscal discipline, and public service delivery.

The Indian budget comprises two parts: the Revenue Budget and the Capital Budget. The Revenue Budget deals with day-to-day income and expenses, while the Capital Budget focuses on long-term assets and investments. The budget is also categorized into three types: Balanced, Surplus, and Deficit depending on how revenue compares to expenditure.

The process starts with budget preparation, followed by approval from Parliament, and finally, execution by the government. It involves various ministries and financial institutions. The Union Budget is a key tool to direct the country’s priorities such as infrastructure development, education, healthcare, and welfare schemes.