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Word Budget in the constitution of India- Part-V- Chapter-2, Article 112 says that every year the president of India shall cause to be laid in parliament an “annual financial statement”- commonly called budget
Thus, budget is a constitutional obligation for Union government.
Further, while budget is prepared in utmost secrecy in the North Block, which houses finance ministry.
Till 2016 it was presented on the last working day of February by the Finance Minister of India in Parliament.
The Government presents it on the first day of February so that it could be materialized before the commencement of new financial year in April.

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