When is Effective date of the Finance Bill

The Union Budget not only contains the government's annual financial statement but also a road map for how the country's finances will be managed in the next financial year. As such, it is a piece of legislation that has to be vetted by Parliament. Usually, the Union Budget is presented a month or two before the end of the ongoing financial year and is effective from April 1 of the next financial year.

 

Rule 219 of the Rules of Procedure of the Lok Sabha states: ‘Finance Bill’ means the Bill ordinarily introduced in each year to give effect to the financial