Awareness on

Indian Union Budget

Who are They….?

1. When was India's 1st Budget presented?a) November 26, 1947b) February 29, 1948c) February 28, 1950

2. Which two Indian finance ministers have presented 5 budgets in a row?a) Pranab Mukherjee / P Chidambaramb) Yashwant Sinha / Manmohan Singhc) Morarji Desai / Yashwant Sinha

3. Which finance minister has presented a Budget on his birthday?a) Yashwant Sinhab) Morarji Desaic) Jawaharlal Nehru4.Which finance minister went on to become the President of India?a) Sarvepalli Radhakrishnanb) Giani Zail Singhc) R Venkataraman

Six Finance Ministers were the Prime Ministers

# Jawaharlal Nehru # Indira Gandhi # Morarji Desai # VP Singh # Charansingh & # Manmohan Singh

Two Finance Ministers later became Presidents of India

# R. Venkata raman # Pranab Mukharji

The Union Budget of India, referred to as the Annual Financial Statement in Article 112 of the Constitution of India, is the annual budget of the Republic of India, presented each year on the last working day of February by the Finance Minister of India in Parliament. The budget, which is presented by means of the Financial Bill and the Appropriation bill has to be passed by the House before it can come into effect on April 1, the start of India's financial year.

An Interim Budget is not the same as a 'Vote on Account'.'Vote on Account' deals only with the

expenditure side of the government's budget, an Interim Budget is a complete set of accounts, including both expenditure and receipts.

Former Finance Minister MorarjiDesai presented the budget ten times, the most by anyNext is P. Chidambaram Nine times

10 Budgets that changed the face of Indian Economy

1947: Independent India's First Budget by R.K. Shanmukham Chetty, No new taxes, only review1951: The 1st Budget of the Republic of India by John Mathai, road map to Planning Commission

1957: The 'Krishnamachari-Kaldor' Budget by Tiruvellore Thattai Krishnamachari, Restrictions on Imports

1968: People-sensitive Budget by Morarji Ranchhodji Desai

1973: The Black Budget by Yashwantrao B. Chavan, Nationalization of Insurance Companies

1986: The carrot & stick Budget by V.P. Singh

1987: The Gandhi Budget by Rajiv Gandhi, PM, Minimum Corporate Tax was introduced

1991: The Epochal Budget by Manmohan Singh, Reforms oriented budget – EXIM…

1997: The dream Budget by Palaniappan Chidambaram, launched VDIS

2000: The Millennium Budget by Yashwant Sinha in NDA Govt

This would be 85th Union Budget in Independent India by Arun Jaitely, NDA Govt.

The Union Budget of India, referred to as the Annual Financial Statement[1] in Article 112 of the Constitution of India, is the annual budget of the Republic of India, presented each year on the last working day of February by the Finance Minister of India in Parliament. The budget, which is presented by means of the Financial Bill and the Appropriation bill has to be passed by the House before it can come into effect on April 1, the start of India's financial year.