It is very important for any country to present the budget properly. Because the progress of that country is decided by the budget. The government gives complete accounts from earnings to expenses through the budget. It gives information about what work is being done and what plans are being made to deal with poverty, unemployment and hunger present in the country. This time the full budget in India will not be presented in February. Because Lok Sabha elections are to be held. The interim budget is presented in February of the year in which Lok Sabha elections are to be held. Then when the new government is formed, the party that comes to power presents the full budget in July. In this news we are repeatedly mentioning the budget. Have you ever wondered who presented the budget for the first time? This time i.e. in 2024, Nirmala Sitharaman will present the interim budget.
Who presented the first budget
The first budget in India was presented on 18 February 1860. The country had not become independent then. This budget was presented in the Viceroy’s Council by James Wilson, a Scottish economist and leader associated with the East India Company. But after India’s independence, the first budget was presented by the first Finance Minister of India, RK Shanmukham Chetty, on 26 November 1947.
Got a chance to present the budget twice on my birthday.
The record of presenting the budget the most number of times in the country is in the name of Morarji Desai. Morarji Desai has presented the full budget eight times. Not only this, he also got the opportunity to present the interim budget twice. The most important thing is that he presented the budget twice on his birthday (29 February). On his birthday, he presented the first budget in 1964 and the second budget in 1968. After Morarji Desai, the second name in this case is P Chidambaram, the third name is Pranab Mukherjee and the fourth name is Manmohan Singh.
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These major changes have taken place in the budget
Till the year 1955, the budget was presented only in English, but the Congress government started presenting it in both English and Hindi languages. Till 1999, the budget speech was presented at 5 pm on the last working day of February, but Yashwant Sinha presented it at 11 am in 1999. Later the budget dates were also changed. Arun Jaitley presented the budget speech in 2017 on 1 February and since then the budget is presented on 1 February every year. Let us tell you that earlier the date of presenting the budget was on 28th or 29th February. Before 2017, the Railway Budget and the General Budget were separate, but in 2017, the Railway Budget was merged into the General Budget. After this, every year only one general budget of the country is presented on 1 February. Another important change was made in the budget during the Covid-19 pandemic and paperless budget was started. The budget for the year 2021-22 was presented paper-less i.e. digitally for the first time.
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