Parliament

1. Introduction to Budget

1. The Union Budget, also known as the Annual Financial Statement, is presented under Article 112 of the Constitution.
2. It outlines the government's estimated receipts and expenditures for a financial year (April 1 to March 31).
3. The Budget is a crucial instrument of fiscal policy.
4. Prepared by the Ministry of Finance, it is presented by the Finance Minister.

2.

1. Sessions of Parliament

1. The President of India summons and prorogues the sessions of Parliament (Article 85).
2. There are three major sessions each year: Budget Session (February to May), Monsoon Session (July to September), and Winter Session (November to December).
3. The gap between two sessions must not exceed six months.
4. The first sitting of each session includes the President's address to the joint session (Article 87).

2.

1.

Introduction

1. The Parliament of India is a bicameral legislature consisting of two houses: the Lok Sabha (House of the People) and the Rajya Sabha (Council of States).
2. It is the supreme legislative body of the Republic of India.
3. Parliament operates under the framework of the Constitution of India.

1.