The Union Budget is the annual budget of the Republic of India presented by the Finance Minister. It is referred to as the Annual Financial Statement under Article 112 of the Constitution of India and is presented by the means of Finance bill and Appropriation bill. The union budget is strategically presented in February so that it can be duly materialized before the commencement of Financial Year, that is, April 1.
Union Budget 2017 is the most recent budget of the country and was presented by Finance Minister Arun Jaitley on 1st February 2017. From FY 2017-18 onwards, the Outcome Budget of all Ministries has been combined into one single document and will be brought out by the Ministry of Finance in collaboration with the NITI Aayog. Railway budget, which was earlier presented separately by the Railway Minister, has now been combined with the Union Budget.