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From iconic North Block basement stories to the 'Millennium Budget', here are 21 unique and interesting facts about India's Union Budget presented by Finance Ministers and sometimes even Prime Ministers
The 'bahi-khata' held by Finanace Minister Nirmala Sitharaman. (Pic/PTI)
As Finance Minister Nirmala Sitharaman is set to present the Union Budget 2025 on February 1, at 11 am, here are some interesting facts about India’s Union Budgets over the decades.
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1. First Union Budget:
The first budget of independent India was presented by R. K. Shanmukham Chetty on November 26, 1947, covering only seven and a half months (August 15, 1947 – March 31, 1948).
2. Longest Budget speech:
Finance Minister Nirmala Sitharaman holds the record for delivering the longest budget speech in 2020, clocking 2 hours and 42 minutes. She had to cut it short due to fatigue.
3. Shortest Budget speech:
The shortest budget speech was delivered by Hirubhai M. Patel in 1977, lasting just 800 words.
4. Evening to morning transition:
Until 1999, the Union Budget was presented at 5 PM in adherence to British traditions. Finance Minister Yashwant Sinha changed it to 11 AM to better suit Indian working hours.
5. Briefcase to 'bahi-khata':
In 2019, Nirmala Sitharaman replaced the traditional budget briefcase with a "bahi-khata" (ledger) wrapped in red cloth, signalling a shift towards Indian values.
6. Interim Budgets:
India has had 13 interim budgets since independence, typically presented before general elections.
7. Gender representation:
Only two women have presented the budget—Indira Gandhi (as PM in 1970 and 1971) and Nirmala Sitharaman (since 2019).
8. Budget printing:
The Union Budget was once printed at Rashtrapati Bhavan but was shifted to a press on Minto Road in Delhi in 1950 after a leak, and in 1980 to North Block.
9. Independent India's first Union Budget:
Finance Minister RK Shanmukham Chetty on 26th November 1947 presented India's first Union Budget post-independence.
10. Budget presentation by PMs:
Normally presented by the Finance Minister, the Union Budget was read by the Prime Ministers too; Jawaharlal Nehru in 1958, Indira Gandhi in 1970, and Rajiv Gandhi in 1987-88.
11. The 'Halwa' ceremony:
The ceremony is a ritual in which traditional dessert 'halwa' is prepared and served to officials and staff members of the finance ministry who are involved in the preparation of the budget.
12. North Block ‘lock in’:
Finance ministry officials and staff involved in the preparation of the budget enter a 'lock-in' period, wherein they stay in the basement of North Block, cut off from the world to maintain the secrecy around the final document.
13. There was quarantine before Covid too:
The printing of several hundred copies of the budget was such an elaborate exercise that printing staff had to be quarantined inside the printing press in North Block’s basement for up to two weeks.
14. Print to Digital:
The budget went digital with bare minimum documents printed and the bulk distribution happening via mobile app or on the website, which also meant that the lock-in period has become shorter to just five days from the previous one which lasted up to two weeks.
15. Paperless Budget:
Wrapped in the traditional 'bahi-khata' pouch, the Finance Minister 2021 presented the first-ever paperless budget using a digital tablet.
16. North Block’s basement:
The basement of North Block houses a printing press that was traditionally used to print budget documents for 40 years from 1980 to 2020.
17. Merging of Budget:
The Railway Budget was merged with the Union Budget of India in 2017 to allow better resource allocation. This ended a practice that began in 1924 when the British ruled India.
18. February 1:
The budget presentation originally used to commence on the last date of February but was moved to the first date by the Modi government in 2017.
19. Most deliveries record:
Morarji Desai holds the record for the most budgets presented by an individual, which is 10 in total, including two interim budgets.
20. The Millennium Budget:
The budget presented by Yashwant Sinha in 2000 holds a significant impact on the growth of India's IT industry.
21. The Dream Budget:
Presented by P. Chidambaram in 1997 the ‘dream budget’ was hailed for lowering the personal income tax rates.
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