Which is actively involved in drafting the Union Budget of India?

The Comptroller and Auditor General.

Who is responsible for the preparation and presentation of Union Budget?

Under the Finance Ministry, the Budget Division of the Department of Economic Affairs is the nodal body which is directly responsible for the formulation of the Union Budget.

Who prepares the budget in India?

Finance Minister of India
The Union Budget of India, referred to as the annual Financial Statement in Article 112 of the Constitution of India, is the annual budget of the Republic of India, presented each year on the last working day of February by the Finance Minister of India in Parliament.

What is the Union Budget explain the process of budget implementation in India?

Normally, the budget-making process starts in the third quarter of the financial year. The budget has four stages viz., (1) estimates of expenditures and revenues, (2) first estimate of deficit, (3) narrowing of deficit and (4) presentation and approval of budget.

Who prepares the budget of a country?

the Ministry of Finance
The budget is prepared on a fiscal-year basis by the budget division of the Ministry of Finance. The centre of the budget system is the general account, which theoretically includes all revenue and expenditure directly applicable to the overall fiscal operation of the government.

Who made Union budget?

The Union Budget of India for 2014–2019 was presented by Arun Jaitley. The Interim Union Budget for 2019–2020 was presented by Piyush Goyal. The Union Budget for 2019–2021 was presented by Nirmala Sitharaman.

Who is responsible for the budget?

The chief financial officer, controller or equivalent executive is ultimately responsible for managing the company’s finances, including top-level budgets. The CFO bears much of the responsibility for drafting corporate budgets based on input from the accounting team.

What is the budget process in government?

The President submits a budget request to Congress. The House and Senate pass budget resolutions. House and Senate Appropriations subcommittees “markup” appropriations bills. The House and Senate vote on appropriations bills and reconcile differences.