At 11 a.m. on february 1, Finance minister Nirmala Sitharaman will unveil the Union Budget 2025. Being the second budget since prime minister Narendra Modi's nda administration returned to power for the third time, this year's budget is particularly noteworthy.
 
The budget has gained more importance as the important delhi Assembly elections draw near. Let's examine some of the fascinating facts about the budget over the years both the general public and the nation's leaders anxiously await this year's budget.
 
Interesting facts about the Union Budget

Who presented the first Budget of Independent India?
On february 28, 1948, Finance minister RK Shanmukham Chetty unveiled the first Union Budget following India's 1947 independence from british domination. An interim budget was first presented on november 26, 1947, to oversee the newly independent nation's finances in the short term.
 
Which Prime Ministers have presented the Budget?
Prime ministers have occasionally presented the Union Budget. They are rajiv gandhi (1987), indira gandhi (1970), and jawaharlal nehru (1958).
 
Who has presented the most Budgets in India?
The record for the most budgets presented in india is held by former indian prime minister Morarji Desai. He gave ten budget presentations in all, while previous Finance minister P chidambaram came in second with nine. manmohan singh gave six budget presentations, while pranab mukherjee and Yashwant Sinha each gave eight.
 
Who delivered the longest Budget?
In 2020, Nirmala Sitharaman, the Finance minister, set a record for the longest Budget. The speech lasted for two hours and forty-two minutes. In addition, she is India's first full-time female finance minister.
 
The change in the timing of the Budget
The budget was formerly delivered at 5 p.m. in India. It was established as a colonial practice to accommodate the british Parliament's timetable. Yashwant Sinha, the finance minister at the time, originally delivered the budget at 11 a.m. in 1999. Yashwant Sinha's 2000 budget was praised as "The Millennium Budget" for putting the indian IT industry on a development trajectory.
 
The change in the date of the Budget
The Union Budget presentation date was shifted from february 28 to february 1 in 2017. This was done to ensure that all parliamentary permissions for funding government projects were in place prior to the start of the new fiscal year on april 1. Additionally, the Railway Budget was incorporated into the Union Budget in 2017.
 
Iconic Budgets
Known as the 'Dream Budget' because it reduced personal income tax rates, the 1997-98 budget was delivered by former Finance minister P. Chidambaram. Because it abolished the license-permit-quota raj, opened india to international markets, and instituted economic liberalization, the 1991 budget, which was delivered by then-finance minister manmohan singh, is still remembered as a landmark document.
 
The halwa ceremony
One of the significant customs connected to the Union Budget is the halwa ritual. It is held around one week prior to the budget's presentation and signifies the start of the budget's printing process. To maintain secrecy, the participating authorities are kept under lock-in after the ceremony. They are only reachable by the family in an emergency and have no communication with the outside world.
 
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Budget 2025

G GOWTHAM

31/01/2025 11:26 AM