Structure of the Union Budget

2.1 Budget Documents

The Union Budget consists of:

1. Annual Financial Statement (Art. 112): Core document listing receipts and expenditure
2. Demands for Grants: Detailed ministry-wise expenditure proposals
3. Finance Bill: Legislative component proposing tax changes
4. Budget Speech: FM's statement explaining policy priorities
5. Economic Survey: Presented the day before Budget by Chief Economic Adviser (CEA); provides comprehensive review of the economy

2.2 Revenue Account vs. Capital Account

Dimension	Revenue Account	Capital Account
Receipts	Tax revenue + Non-tax revenue	Capital receipts (market borrowings, disinvestment, loans repaid by states)
Expenditure	Salaries, subsidies, interest payments, pensions — current consumption	Capital formation, infrastructure, loans to states — asset creation
Surplus/Deficit	Revenue Surplus/Deficit	Capital Surplus/Deficit
Nature	Recurring, non-asset-creating	Non-recurring, asset-creating

2.3 Consolidated Fund, Contingency Fund, Public Account

• Consolidated Fund of India (Art. 266): All revenues received and expenditure authorised by Parliament go through this. No money can be withdrawn without Parliamentary appropriation.
• Contingency Fund of India (Art. 267): Rs 500 crore emergency fund at President's disposal for unforeseen expenditure; Parliament's post-facto approval required.
• Public Account (Art. 266(2)): Government acts as banker — small savings, provident funds, postal deposits. Not subject to Parliamentary vote.

2.4 Charged vs. Voted Expenditure

• Charged: Expenditure that does not require Parliament's vote (President's salary, Supreme Court judges' salaries, debt repayment, Comptroller and Auditor General's salary). Cannot be reduced by Parliament, only discussed.
• Voted: Regular ministry expenditure that requires Parliament's annual approval via Demands for Grants.

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