Union Budget is the budget of :

Central government

The correct answer is option (4) : Central government

Union Budget is the budget of the Central government. It is presented annually in Parliament and outlines the government's revenue and expenditure for the upcoming fiscal year, which runs from April 1 to March 31.

The Union Budget, also known as the Annual Financial Statement, is a comprehensive financial statement of the government's estimated revenue and expenditure for a fiscal year. It outlines the government's financial plans and priorities for the upcoming year. The Union Budget covers the finances and expenditures of the central (federal) government of India, which is responsible for matters of national importance and overall governance of the country.