How the Union Budget is made

 The main responsibility for producing the Budget rests with the Budget Division of the Department of Economic Affairs in the finance ministry. The NITI Aayog is also roped in for consultation. In September of every year this Budget Division issues a circular to all Union ministries, states, UTs, and the defence forces asking them to prepare their estimates for the next fiscal year. once the finance ministry gets these proposals from the ministries and other autonomous departments, various arms of the FinMin -- Department of Revenue, Department of Expenditure and the Department of Economic Affairs get into action.