Budget 2025: Every year the budget in the country is presented on 1 February at 11 am. Do you know that before 1999, the budget was presented at 5 pm instead of 11 am. The tradition of presenting the budget at five in the evening had been going on since the British era, which was ended by the BJP government this year. Know here why the British tradition was continuing…
Change in time and date of presentation of Union Budget
Many traditions regarding the Union Budget have changed over time. Before 1999, the budget was presented every year on the last day of February at 5 pm. This tradition was continuing since the British rule. But in 1999, the then Finance Minister Yashwant Sinha changed it. He changed the time of presenting the budget from 5 pm to 11 pm. This change was approved by the government of Prime Minister Atal Bihari Vajpayee.
Change in date of budget presentation
The date of presenting the budget was also changed in 2017. Then Finance Minister Arun Jaitley presented the budget for the first time on 1 February instead of 28 February. He believed that this change would provide sufficient time to discuss and pass the budget. This made it easier to implement all the budget provisions from April 1.
longest budget speech
The longest budget speech was given by Finance Minister Nirmala Sitharaman in 2020. His speech lasted 2 hours 42 minutes. However, due to health reasons she could not complete it and only two pages were left.
First budget after independence
The first budget after independence was presented on 26 November 1947 by the country’s first Finance Minister, RK Shanmukham Chetty. It included details of the government’s revenue and expenditure throughout the year. The first budget before independence was presented by James Wilson in 1860. This budget was prepared in English and was made keeping in mind the needs of the British rule. Changes in budget presentation traditions over time reflect the changing needs of India. These changes help in making the budget transparent and effective.
When will the next budget be presented?
The government will present the budget on 1 February 2025. This will be the first full budget of the third term of the Modi government. Common people have high expectations from the first full budget of the government.
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