Facts about the union budget - Fusion - WeRIndia

Facts about the union budget

Facts about the union budget

The Union Budget also known as the Annual Financial Statement will be announced today which is the last working day of February. This is the custom followed every year before it comes into effect from April 1. Know about some interesting facts related to the Union Budget.

  1. The first Prime Minister who presented the Union Budget was Pandit Jawaharlal Nehru. He presented the budget of 1958-59.
  2. Due to the huge increase of budget deficit to Rs 550 crore in the year 1973-74, the Union Budget of that year is known as the ‘Black Budget’ of India.
  3. The first Indian governor of the Reserve Bank of India who presented the Interim Budget was C D Deshmukh. He presented the budget of 1951-52.
  4. The only Prime Ministers of India who presented the budget are Jawaharlal Nehru, Indira Gandhi and Rajiv Gandhi.
  5. The first ever interim Budget was presented buy R K Shanmukham Chetty.
  6. The budget of 1997-98 presented by P Chidambaram was termed as ‘Dream Budget’.
  7. The proposed Union Budget comes into effect from April.
  8. The maximum number of budgets ever presented by a single person is 10. The record is held by Morarji Desai. He presented five annual and one interim budgets during his first stint. In his second tenure when he was both Finance Minister and Deputy Prime Minister he presented three final and one interim budgets.
  9. Morarji Desai also has the record of being the only Finance Minister to present two budgets on his birthday. He presented on his birthday (February 29) in 1964 and 1968.
  10. Every year the Union Budget is presented in Lok Sabha first.
  11. Indira Gandhi holds the record of being the only woman Finance Minister who took over the Finance portfolio from 1970 to 1971.
  12. So far, India has had 25 Finance Ministers since 1947.

Image Reference: Indiaopines.com

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