Union Finance Minister Nirmala Sitharaman will present the budget 2021 on 1st February 2021 at 11 AM. Ahead of the budget representation, the country waits for some consumer-friendly announcements. Here are some interesting facts about the budget, to know about the union budget.
10 Interesting Facts about the Budget
ЁЯТ░ Budget- The word budget is derived from тАШbrunetteтАЩ which means small beg in french.
ЁЯТ░ First Budget- The First Indian Budget, was presented by James Wilson, a Scottish economist & politician.
ЁЯТ░ First Independent Budget- The First Independent Budget of India, was presented by RK Shanmukhan Chetty on November 2, 1947.
ЁЯТ░ 2nd Women- FM Smt. Nirmala Sitharaman is the second woman to have presented a budget. The first was Indira Gandhi in 1970.
ЁЯТ░ Budget Timing- Till the year 2000, the budget was presented at 5PM on the last working day if February. It was only in 2000 that FM Yashwant Sinha changed the practice and budget began to introduced at 11AM.
ЁЯТ░ Longest Speech Ever- The longest budget speech was delivered by the FM Arun Jaitley in 2014, it was two and a half hours long and include a 5-minute break.
ЁЯТ░ Black Budget- Budget of 1973-74 is known as the тАШBlack BudgetтАЩ in India. During the year, the budget deficit was Rs. 550 Crore.
ЁЯТ░ GST Introduction- Goods and Service Tax made its debut in the budget speech of P. Chidambaram on February 28, 2006. The idea of having a single unified tax regime was first, suggested by P. Chidambaram under the UPA-II regime.
ЁЯТ░ Budget Language- Until 1955, the union budget was presented in English. After that year, the congress-led government decided to print the budget in both English and Hindi.
ЁЯТ░ Single Budget- Railway and Union Budget was presented separately till 2017 after which they merged into a single presentation.
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The above are the 10 interesting facts about the Indian Budget, if you also have one please share with us by commenting on this article. Thanks
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