Here are some interesting facts that everyone should know about the Union Budget
The budget session for the current year began on january 31 (today) with the President's speech. The budget session will end on february 9. Union Finance minister nirmala sitharaman will present the Interim Budget on february 1. With the lok sabha elections just a few months away, the Interim Budget is about to be presented. A full budget will be presented once the new government is formed.
In that way, while Union Finance minister nirmala sitharaman is going to present the Interim Budget on february 1, here we have compiled some interesting information that everyone should know about the Union Budget.
Some interesting facts about Union Budget
** Budget presentation is an important event that shapes the economic trajectory of the country and takes forward the welfare programs of the government. Accordingly, the Central Budget will be prepared for several months.
** The history of budget process in india is very interesting. On november 26, 1947, the then Finance minister RK Shanmugam Chetty presented the first Union Budget. Budgets have been presented for many years since then.
** Till 1955 Union Budget was printed only in English. During the 1955-56 budget, then Finance minister CT Deshmukh introduced the practice of printing budget documents in english and Hindi.
** Great economist CD Deshmukh brought significant changes during his tenure as Finance Minister. He was instrumental in formulating India's first five-year plans, laying the framework for industrial growth and infrastructure development. He helped make the reserve bank of india an independent institution.
** Till 2016, Union Budget was presented separately as General Budget and Railway Budget. After that, these are merged and presented as a single budget.
** morarji desai has presented a record of 10 budgets, which is the record of any finance minister in India.
** The time for budget presentation was 5 pm, which was changed to 11 am in 2001 by the then Finance minister Yashwant Sinha.
** In 1973-74, when indira gandhi was Prime minister, Yashwantrao P. Chavan presented the budget. The fiscal deficit for that year was Rs 550 crore, so it was known as the 'Black Budget'.
** Presented the first paperless budget on 1st february 2021 using a wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital tablet.
** The longest budget speech in indian history was read in 2020. The budget speech delivered by nirmala sitharaman lasted for more than 2 hours and 42 minutes.
** The parliament of india introduced the Gender Budget in 2005 with the aim of focusing on the needs of women and promoting gender equality.
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