From Briefcase To Bahi-Khata, Here Are Interesting Facts That You Should Know

Budget 2022: Union Finance Minister Nirmala Sitharaman is all set to present her third Budget in the Parliament on February 1, 2022. The Budget presentation this time, just like last year, is expected to be paperless keeping in view the ongoing COVID pandemic. In 2019, when Sitharaman presented her first Budget, she attracted the nation’s attention by replacing the budget briefcase with the ‘bahi khata’. The decision was taken to dump the colonial practice of carrying a briefcase. The following year, she went paperless and presented her budget in Tablet.Also Read – Budget 2022: Healthcare Sector Likely to Get Top Priority Amid Covid Pandemic | Here’s What Experts Say

Here are the interesting facts about India’s Union Budget:  Also Read – Why Does Subramanian Swamy Want Income Tax To Be Abolished? Find Out Here

  • The word budget has French origins. It emerged from the old French term bougette meaning “small leather purse.”
  • The first ever Union budget was presented by James Wilson, a Scottish economist and politician in 1860.
  • The first Union budget of independent India was presented on November 26, 1947 by India’s first finance minister RK Shanukham Chetty.
  • Till 1955, the Union Budget was published only in English. However, this changed in 1955-56 when the government started to publish it in both English and Hindi.
  • While Jawaharlal Nehru was first prime minister to present the budget when he held the finance portfolio back in 1958-59.
  • Former prime minister Indira Gandhi was the first woman to present the budget in India.
  • Former Finance Minister Morarji Desai holds the record for presenting the most number of budgets—a record 10—closely followed by P Chidambaram and Pranab Mukherjee.
  • In 2017, the Rail Budget was merged with the Union Budget and since then, the Budget has been presented on 1 February following the changes introduced by the then Finance Minister Arun Jaitley.
  • Nirmala Sitharaman in 2019 ditched the traditional Budget briefcase, instead, carried a Red packet with the National Emblem wrapped with a ribbon.
  • This time, Nirmala Sitharaman is the first full-time female finance minister to table the Budget 2022.

Also Read – Income Tax Exemption: Experts Want Extension To LTC Scheme In Budget 2022. Know Details About The Scheme Here

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