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. The budget has to be passed by the House before it can come into effect on April 1, the start of India's financial year. Former Finance Minister Morarji Desai presented the budget ten times, the most by any.
The Union Budget of India for 2012 - 2013 was presented by Pranab Mukherjee, the Finance Minister of India on 16th March 2012 ,this was the 7th budget of his career . These budgetary proposals would be applicable from 1 April 2012 to 31 March 2013.
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