The Union budget consists of more than a dozen documents. The budget is structured to present it with clarity and in a detailed manner, following the law. Mandatory documents include the Annual Financial Statement, Finance Bill, and Fiscal Policy Statements. The budget begins with the finance minister s speech summarizing the economy, projections, policy focus, and allocations.
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. Here is a quick guide on how to read and easily understand the Budget document
These documents - Macro-Economic Framework Statement and Medium-Term Fiscal Policy cum Fiscal Policy Strategy Statement - are statements under the Fiscal Responsibility and Budget Management (FRBM) Act, 2003.