The Budget is always presented by the Union Finance Minister before the Lok Sabha, since the power to pass legislation on financial matters lies primarily with the lower house of Parliament, which is directly elected by the people of India.
Article 255 and 256 of the Constitution states respectively:
- 'No tax shall be levied or collected except by authority of law'
- 'No expenditure can be incurred except with the authorisation of the Legislature'
Therefore, all financial matters, that is put before Parliament manifests itself through a Money Bill or Financial Bill, which can only originate in the Lok Sabha. The Rajya Sabha can only propose amendments to Money Bills and Financial Bills, which the Lok Sabha may or may not accept.
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