Do you know which finance minister presented India's first budget and when?  Interesting facts to know

Do you know which finance minister presented India's first budget and when? Interesting facts to know

Do you know which finance minister presented India's first budget and when? Interesting facts to know

Budget 2024: It is interesting to know that India has seen 77 regular and 14 interim budgets so far.

Union Finance Minister Nirmala Sitharaman is presenting the budget from 2019 onwards.
Union Finance Minister Nirmala Sitharaman is presenting the budget from 2019 onwards.

Budget 2024: Union Finance Minister Nirmala Sitharaman will present the budget for 2024-25 on July 23. Interestingly, this will be the first in a BJP-led NDA government. It should be noted that the budget is a detailed statement of the finances of the center including revenue and expenditure.

It is interesting to know that India has seen 77 Regular Budgets and 14 Interim Budgets so far and a total of 91 Union Budgets have been presented in Parliament till date and this year will be the 92nd Union Budget.

India's Union Budget: 9 Interesting Facts

  1. India's first budget was presented on 7 April 1860 by James Wilson, Finance Member of the Council of India. He was the founder of The Economist newspaper.
  2. The first budget was presented when India was under British colonial rule at the time and this budget was a response to the financial difficulties faced by the British administration in India after the mutiny of 1857 (the Sepoy Mutiny).
  3. After India's independence, the first Union Budget was presented on 26 November 1947 by RK Shanmukham Chetty, the first Finance Minister of independent India.
  4. The first budget of independent India emphasized stabilizing the economy, rebuilding the country and laying the foundation for future growth.
  5. The first budget of free India was then presented at 5 pm, now it is presented at 11 am.
  6. In his budget speech, Shanmukham Chetty said, “I rise to present the first budget of a free and independent India. The occasion can be considered historic and I consider it a rare privilege for me to present this budget.”
  7. In the first budget, a budgetary revenue target of Rs 171.15 crore was set and the total expenditure for that year was estimated at Rs 197.29 crore.
  8. Later, Finance Ministers P Chidambaram, Yashwant Sinha, Jaswant Singh and Arun Jaitley presented the Union Budget.
  9. Union Finance Minister Nirmala Sitharaman is presenting the budget from 2019 onwards.




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