- The presentation of the Union Budget has been advanced by a month, from last date of February to first date of February.
- The objective is to have the Budget constitutionally approved by Parliament and assented to by the President, and all allocations at different tiers disseminated to budget-holders, before the financial year begins on April 1.
- The new system will eliminate the need for the executive to obtain a vote-on-account budget approval to incur expenditure during the first two months.
