<h1>Consolidated Fund of India governs public receipts and expenditures, requiring Parliamentary authorisation for withdrawals under constitutional framework.</h1> The document outlines the constitutionally and statutorily required Union Budget components: the Annual Financial Statement, Demands for Grants and Finance Bill mandated by the Constitution, and the Macro Economic Framework Statement and Medium Term Fiscal Policy cum Fiscal Policy Strategy Statement mandated by the FRBM Act. It explains that receipts and disbursements are classified into the Consolidated Fund, Contingency Fund and Public Account, distinguishes revenue and capital budgets, and describes Demands for Grants, the Money Bill nature of the Finance Bill, and the role of explanatory publications in consolidating scheme estimates, receipts, liabilities and transfers to States/UTs.