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What is the Union Budget? How does the government plan revenue and expenditure? This video explains the Union Budget of India for UPSC Prelims + Mains (Economy / Polity) with conceptual clarity and exam relevance. In this lecture we cover: Meaning of Union Budget Constitutional provisions Budget process in India Revenue Receipts & Capital Receipts Revenue Expenditure & Capital Expenditure Budget deficits: Fiscal deficit Revenue deficit Primary deficit Role of Parliament Importance of budget in economic policy Prelims traps + Mains answer structure 🎯 Useful for UPSC Prelims Economy ✍️ Important for GS-3 Mains answers 🧠 EXAM LINKAGE Prelims Budget components Types of deficits Constitutional provisions Mains Fiscal policy tool Budget for economic development Fiscal discipline vs growth One-line Mains Use: The Union Budget is the government’s key fiscal instrument for managing economic growth and public expenditure. 🔔 Follow & Join for daily updates 🔗 UPSC Links 📲 Telegram : https://t.me/MahaVidyarthiUpscAcademy 📸 Instagram : / mahavidyarthi.upsc 🔗 MPSC Links 📲 Telegram : https://t.me/MahaVidyarthiMpscAcademy 📸 Instagram : https://www.instagram.com/mahavidyart... Union budget UPSC Union budget India UPSC Budget process India UPSC Fiscal deficit UPSC Revenue and capital expenditure UPSC Union budget UPSC Indian budget system Budget components India