However, lets get you started with some explainers and glossary terms! 

The Union Budget is an annual statement of the estimated expenditure and income in the coming financial year presented in the parliament by the finance minister. In other words, it's a statement of how much and how the government intends to raise and spend money in the next financial year (FY), along with modifications to the taxation structures of the government.

Also Read:Budget FAQ #1: What Is The Union Budget?