Explain the process of preparation of the annual budget.

The annual budget in India is a comprehensive document that outlines the government's financial plan for the upcoming fiscal year. It plays a crucial role in the country's public policy and administration as it allocates resources to various sectors and programs, sets revenue targets, and outlines fiscal policies. The process of preparation of the annual budget in India involves several stages and stakeholders, ensuring transparency, accountability, and efficiency in resource allocation.

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