Union Budget 2022: Significant And Interesting Facts Associated with India's General Budget

Nirmala Sitharaman will be the first woman finance minister to present four consecutive Union Budgets

In 2019, Finance Minister Nirmala Sitharaman carried a 'bahi khata' (ledger) with the National Emblem printed on it to Parliament, in a departure from the standard practice of carrying a briefcase. Image: Getty

New Delhi: As the Union Budget 2022-2023 day draws near, all eyes are on Finance Minister Nirmala Sitharaman. On February 1, she will present her fourth budget after 2019, 2020, and 2021. This will make her the first woman finance minister to present four consecutive budgets.

 

In 2019, Sitharaman had carried a 'bahi khata' (ledger) to Parliament on the Union Budget day — a switch from the tradition of carrying a briefcase. And in 2020, the finance minister did another first — read out the budget from a tablet. Ihe Union Budget is expected to be paperless once again, keeping in view the Covid-19 pandemic.

 

Here is a look at some interesting facts associated with the Union Budget.

 

1947: First Union Budget

 

The first Union Budget of independent India was presented by RK Shanmukham Chetty on November 26, 1947, just three months after the end of British rule. 

 

First United-India Budget

 

In 1949-50, John Mathai succeeded Shanmukham Chetty as the finance minister and presented the first united-India budget, including the financial statements for former princely states.

 

Maximum Union Budgets By A Minister

 

Former finance minister Morarji Desai presented the Budget a record 10 times, between 1959 and 1969.

 

First Woman To Present Union Budget

 

Indira Gandhi was the first woman finance minister to present the Union Budget in 1970. The then prime minister also held the finance portfolio.

 

Printing of Budget in Hindi

 

Until 1955, the Union Budget was printed in English. The Congress then decided to print the Budget documents both in Hindi and English.

 

Printing of Budget

 

The printing of the budget documents was initially done at the Rashtrapati Bhawan. But after some of the documents were leaked in 1950, the government shifted the printing to a press at Minto Road, New Delhi. In 1980, the printing was moved to a government press in North Block.

 

Merging of Railway Budget

 

The Railway Budget used to be presented separately, a day before the presentation of the Union Budget. In 2017, the Narendra Modi government merged it with the Union Budget.

 

Longest Budget Speech

 

Finance Minister Nirmala Sitharaman's 2020 Budget speech lasted two hours and 40 minutes, which is considered a record.

 

Change in Time of Budget Presentation

 

Following British tradition, the Union Budget in India used to be presented at 5 pm. The slot was changed to 11 am in 1999 during the tenure of then finance minister Jaswant Singh.

 

'Bahi Khata' Replaces Briefcase

 

In 2019, Finance Minister Nirmala Sitharaman carried a 'bahi khata' (ledger) with the National Emblem printed on it to Parliament, in a departure from the standard practice of carrying a briefcase. Incidentally, the word Budget comes from French bougette, which means leather briefcase. 

 

Paperless Budget

In 2020, Finance Minister Nirmala Sitharaman read out her budget speech from a tablet. This was a first for a Union Budget, though Andhra Pradesh and Assam had started the practice in 2018. Many considered it a move by the minister to adapt to changing times and adjust to new technologies.

 

Change in Date

Continuing with the colonial-era practice, the Union Budget used to be presented on the last working day of February. It was iIn 2017 when the tradition was changed. Then finance minister Arun Jaitley announced February 1 as the date for presentation of Union Budget thenceforth.