The correct answer is Option (2) → (B), (D), (A), (C)
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(B) Preparation of budget by the Ministry of Finance: This is the initial step where the Ministry of Finance, in consultation with various ministries and departments, estimates revenues and expenditures and formulates the budget proposals.
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(D) Approval by the Cabinet: Once the budget is prepared, it needs to be approved by the Union Cabinet (or the respective state cabinet) before it is presented to the Parliament.
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(A) Discussion and approval by the Parliament: After Cabinet approval, the budget is presented in the Parliament (Lok Sabha and Rajya Sabha in India) for discussion, debate, and eventual approval through voting.
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(C) Implementation by the government: Once the budget is approved by the Parliament and assented to by the President (or Governor in states), it is then implemented by the government departments and ministries.
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