New Delhi. Union Budget 2022: Finance Minister Nirmala Sitharaman will present the budget on February 1, 2022. This year the budget session will start from January 29 and will end on April 8, 2022. All eyes are on the upcoming budget session that this year’s budget will be going to save the common people from the third wave of the epidemic and give a boost to the economy.
Apart from this, there are assembly elections in 5 states after the budget, so it is understood that the budget will be quite populist. However, this will be known only when the budget is presented. But today we are going to tell you some such facts, which are related to the history of Indian budget. Many people do not know these facts that when and where the first budget was presented.
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When was the first budget presented?
Budget is the accounting of the country’s income and expenditure for the year by the government. It was introduced in Britain. The budget was presented for the first time in India on 7 April 1860 during the British period. This budget was presented by Scottish economist and politician James Wilson.
India’s first Prime Minister Jawaharlal Nehru was the first person at the top post to present the budget of India, when he took over the Finance Department in 1958–59. KC Niyogi became the only Finance Minister of India who did not present a single budget. He was the Finance Minister for 35 days in 1948 and after him John Mathai became the third Finance Minister of India.
Why is the budget presented only at 11 o’clock?
Now the budget is presented at 11 in the afternoon. Earlier in the British era, the budget was presented at 5 pm. This was done so that the officers working on the budget overnight could get some rest. Till 1955, the budget was published only in English, but from 1955-56 the government started publishing it in Hindi also.
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Which finance minister presented the budget more times
Morarji Desai has presented the budget of India most of the times. Morarji Desai has presented the country’s budget ten times as the Finance Minister. It consists of eight budgets and two interim budgets. After this, P. Chidambaram, who was the Finance Minister in the UPA, presented the budget 9 times and Pranab Mukherjee 8 times. Yashwant Sinha presented the budget 8 times and Manmohan Singh 6 times.
Former Prime Minister Indira Gandhi became the first woman to present the budget of independent India. As Prime Minister, he also handled the Finance Department. However, on July 5, 2019, Nirmala Sitharaman became the first full-time woman finance minister of India to present the country’s budget. Meaning, before Nirmala Sitharaman, there was no such woman who had been only the Finance Minister.
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leather red bag
First, when the Finance Minister of Britain used to give information about the government’s expenditure and income in Parliament and it was brought in a red leather bag, but the BJP government ended the tradition of red bag. Nirmala Sitharaman started the practice of carrying budget documents in bahi-khata (paper wrapped in traditional red cloth) instead of briefcase in the year 2019.
For the first time in Indian history, the budget became completely paperless in 2021. It was not printed. All MPs and government officials get it through the official website. Even the Economic Survey released in the year 2021 was completely paperless.