The balloon was found on a tree in the village in Kerakat area by some villagers, who informed the police about it.
The police later took it to Kerakat police station and found a transmitter attached to the balloon with 'Made in Germany' written on it.
Superintendent of Police Bharat Singh said that MET office and intelligence agencies have been contacted to find out more about the balloon.
"We are probing the matter," he added.