The Annual Budget of India is referred to as the annual Financial Statement in Article 112 of the Constitution. It lays down the proposals for estimated income and expenditure of the Union government for the coming financial year, and has to be passed by the Parliament before it can come into effect on April 1. Normally, the Budget is presented on the last day of February but this year it was postponed because of state assembly elections. It is being presented today by the Union Finance Minister, Mr Pranab Mukherjee. Here is the link to the Economic Survey 2011–12. It reviews the developments in the Indian economy over the previous 12 months, summarizes the performance on major development programmes, and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term.

Accountability Initiative has reviewed the budget of key social sector schemes. You can find it on our Expenditure Track page.