New Delhi: Generally, the question is in everyone's mind that the Ministry of Finance, NITI Aayog and other ministries of government are involved in the process of budget making. At the same time, the finance ministry issues guidelines on the basis of expenditure every year. After this, the ministries have to tell their demands. People who plan their home budget every month know how carefully and carefully it has to be prepared. How much income will be there and where will it be spent. You will have to save some money on hand or will have to borrow. There is a possible cut in spending and where more money can be spent than expected. This is all we have to think about.

Know these important facts related to budget

This process is very important when the country's budget is prepared. It is prepared for a long time. Thousands of people make a complete account day and night. According to Article 112 of the Constitution of India, the Union Budget is the accounting of the estimated income and expenditure of the government in a given year.

Know why it is important to present the railway budget separately

In order to increase participation in the process of making a general budget, the Finance Ministry has been asking suggestions from citizens for the last several years. This year also, the Finance Ministry has asked people to give ideas and suggestions for the budget. The finance ministry also seeks suggestions from industry-related organizations and parties.

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It is interesting to note that the finance ministry, NITI Aayog, and other government ministries are involved in the process of budget making. The Ministry of Finance issues guidelines on an expenditure basis every year. After this, the ministries have to tell their demands. The Budget Division of the Ministry of Finance has the responsibility of budgeting. This division is the nodal agency. The Budget Division issues circulars to all Ministries, States, Union Territories, Autonomous Bodies, Departments and Defense Forces to give them the estimates for the next year. After receiving the demands from the ministries and departments, there is an intense discussion between the Department of Expenditure of the Ministry of Finance. And then after that, the budget is presented.