Union Budget comes with its own perks and showdowns for people of all walks of life in India. While everyone is speculating about Union Budget 2018, let us take you through 10 interesting factoids about the Union Budget:
1. Like every Shubh Karya, the printing of the Union Budget is preceded by a ‘Halwa-making ceremony’ which is then distributed to all staffers, ministers and onlookers alike. The printing staff is isolated in the finance ministry for one week before the roll out of the Union Budget.
2. India got its first Union Budget on 26th November 1947, within almost 3 months it got Independence from the British rule. However, the first ever budget presented in India to the British Crown was on 7th April 1860 by Finance Member James Wilson of the Indian Council.
3. The First Union Budget of Free India was presented by the then Finance Minister - Sir Ramasamy Chetty Kandasamy Shanmukham Chetty - an Indian lawyer-economist-turned-politician.
4. Indira Gandhi was the first and the only woman Finance Minister in India to present a Union Budget.
5. Morarji Desai, the 4th Prime Minister of India, holds the record of presenting maximum number of Union Budgets in India, which accounts to a total 10. Out of these 10, Morarji presented 2 budgets on his birthday – 29th February in 1964 and 1968.
6. P Chidambaram follows Morarji Desai closely and has presented 8 Union Budgets till date.
7. President Pranab Mukherjee, Yashwant Sinha, YB Chavan and CD Deshmukh, all have presented the Union Budgets 7 times during their tenure as Finance Ministers.
8. The Budget 1973 is known as The Black Budget due to a deficit of ₹550 Crores.
9. Dr. Manmohan Singh and Yashwant Sinha also hold the record of presenting the Union Budget five times in a row. Finance Minister Arun Jaitley will also join the league after presenting his 5th Union Budget in a row on 1st February 2018.
10. Since 92 years, the Rail Budget in India was presented separately, however, last year, in 2017, it was merged with the Union Budget.
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