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Abstract

In accordance to the Constitution of India’s Article 112, it is necessary to present a budget at the Parliament before the beginning of every financial year. The Union Budget is allotted for the upcoming fiscal year, which starts from 1st of April and ends on 31st March of the next year. The general objective of the Union Budget is to bring about a rapid and balanced economic growth of our country coupled with social justice and equality. The budget may come up with various amendments in various clauses related to any number of Acts, but what is more important is the fact that individuals should get benefited the most. Whether a businessman, a worker, a student, a farmer or any other person who is earning and managing his livelihood needs some sops for personal benefit.

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