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The Finance Act is an important Act in India. The Central Government, through this Act, gives effect to financial proposals at the beginning of every Financial Year.

The Act applies to all the States and Union Territories of India unless specified otherwise.

Finance Act thus making this Act one that renews itself each year. All the Governmental financial policies are included in this Act. The existing policies, new policies, as well as changes made to existing policies are all included here. Every Finance Act is assented by the President of India.