Union Budget 2025: How is the Budget prepared and passed in India?

The Union Budget 2025 will be announced on 1st February. The process of preparing and passing this budget is an intricate one. It begins with the groundwork by the Ministry of Finance, consultations with stakeholders, and data analysis and goes through multiple stages of drafts, approvals and voting stages in the Lok Sabha and Rajya Sabha. Here is a roundup of how the Budget is prepared and passed in India.