The balanced chemical equation for this reaction is:

C2H3OH + K2Cr2O7 + H2SO4 -> Cr2(SO4)3 + CH3COOH + K2SO4 + H2O + Cr2O3

This reaction involves the oxidation of ethanol (C2H3OH) by potassium dichromate (K2Cr2O7) in the presence of sulfuric acid (H2SO4).