The Union Budget of India, also referred to as the Annual financial statement in the Article 112 of the Constitution of India, is the annual budget of the Republic of India. It is presented each year on the last working day of February by the Finance Minister of India in Parliament. The budget, which is presented by means of the Financial bill and the Appropriation bill has to be passed by the Houses before it can come into effect on April 1, the start of India's financial year.