How is the Budget prepared: Insights and expectations for this year

The Indian Union Budget preparation is a meticulous process overseen by the Ministry of Finance (MoF), involving NITI Aayog and other ministries. It begins around August-September, culminating in the February 1 presentation, in a non-General Election year. Defined by Article 112 of the Constitution, it forecasts revenues and expenditures, balancing fiscal prudence with developmental goals through circular issuance, revenue scrutiny, stakeholder consultations, allocation decisions, and the symbolic Halwa Ceremony.