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Budget 2023: From the first budget to today.. Do you know these interesting facts?

The News GlorybyThe News Glory
27/01/2023
Budget 2023: From the first budget to today.. Do you know these interesting facts?

Budget 2023: The budget programs formally began with the Halwa ceremony held at the Union Finance Department on Thursday. Finance Minister Nirmala Sitharaman will introduce the annual bill in Parliament on February 1. Economists are predicting that this time there are chances of announcing huge tariffs to attract the average middle class. Leaving aside the issues of how the budget will be this time, there are many interesting aspects in the budgets introduced so far in the country. The budget was introduced for the first time in 1860 before the independence of India. However, it was introduced by the then Finance Minister RK Shanmukham on November 26, 1947, for the first time after independence by the Government of India. Know some important events that have happened since then.

People who introduced most times..
The Union Budget is usually presented by the Finance Ministers. However, only a few have introduced multiple interim budgets, including long tenures. Former Prime Minister Morarji Desai presented the Union Budget 10 times as the Finance Minister between 1962 and 1969. After him, P. Chidambaram presented the budget nine times, Pranab Mukherjee 8 times, Yashwant Sinha 8 times and Manmohan Singh six times. The current Finance Minister Nirmala Sitharaman has presented the budget 4 times so far. He is preparing to perform those duties for the fifth time. On the other hand.. Jawahar Lal Nehru, Indira Gandhi and Rajiv Gandhi, the first Prime Minister of the country, introduced the budget while assuming the responsibilities as Prime Minister.

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Change in budget dates..
After independence they presented the Union Budget on the evening of the last day of February. In 1999, that tradition was changed to 11 a.m. in March. After that, the budget timings were again changed for two years after the Modi-led BJP government was formed. In 2017, the then finance minister Arun Jaitlu brought the tradition of presenting the budget on February 1 instead of February 28.

Merger of railway budget
The Central Government presents the Railway Budget separately. This tradition continued till 2017. However, the Modi-led BJP government merged it in 2017. Budget allocations for all sectors are announced on February 1.

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Paperless budget..
According to tradition, the Halwa ceremony is held at the Ministry of Finance in North Block. It is with this ceremony that the budget programs formally begin. After that the budget copies are advanced. All who are a part of it are kept away from the outside world until they join the Parliament. However, Finance Minister Nirmala Sitharaman opened this tradition in 2021. Paper lace budget was introduced for the first time on February 1, 2021. The budget app has also been brought to be accessible to members of parliament as well as general public.

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