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UNKNOWN FACTS ABOUT UNION BUDGET

Date2018-10-24
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We have compiled some little known facts about the history of Indian Budget. We hope that you will like to read them with keen interest.

  •  Indian Budget was introduced on April 7, 1860 by the East India Company and the first Budget was presented by James Wilson on February 18, 1869.

  •  The first budget of Independent India was presented by the then Finance Minister, RK Shanmukham Chetty on November 26, 1947.

  •  Initially, Budget was printed only in English language, but from 1955-56, budget is printed in both languages, Hindi and English.

  •  In the British Era, the Budget was presented at 5 PM. This practice was ended in the year 2001 by presenting the Budget at 11 AM.

  •  Until 2017, the ritual was to present the Budget on the last working day of the February. From last 2 years, Budget is now presented on the first working day of the February.

  •  KC Neogy and HN Bahuguna were the only two Finance Ministers who did not present any Indian Budget.

  •  Employees involved in printing process of budget are kept in absolute isolation for approx. one week before the presentation of budget.

  •  The record of presenting maximum number of 10 Budgets was held by Morarji Desai.

  •  The President of India fixes the date of presentation of budget by the Finance Minister.

  •  First woman Prime Minister of India, Indira Gandhi was also the only woman Finance Minister in the history of India who presented the Budget while serving as the Prime Minister.

  •  For the first time in 92 years, the Rail Budget, usually presented separately, was merged with the Union Budget of 2017.

  •  The Budget presentation is preceded by a Halwa ceremony wherein a sweet dish is served to the officers and staff involved in the printing of the budget documents.

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