India Budget

Budget was introduced for the time in India on 1860 by the East India Company to the British Crown James Wilson. 

The first budget for the Union of India was Presented on 26 November 1947 by the first finance Minister RK Shanukham Chftty. But actually it was a review of the economy and no new taxes were proposed. 

Till 1955,the budget was Presented only in English. However from 1955-1956, the budget documents are presented both in English and Hindi. 

Morarji Desai, the former finance Minister of India, has presented the budget a recorded 10 times. 

Indira Gandhi was the first woman to Present the Budget for 1970-1971.But that time was not a finance Minister. 

Budget presented by Manmohan Singh in 1991 was known as 'The Epochal Budget'. 

P Chidambaram 1997-1998 Budget was Termed as DREAM BUDGET for LOWERING TAXES RATES. 

The Budget presented in the year 2000 by the Yashwant Sinha is termed as "The Millennium Budget". It is said to have revolutionised India's Information Technology (IT) sector. 

In 2001,NDA finance Minister Yashwant Sinha changed the time of budget presentation from 5 pm to 11am.

From 2017, the budget has been presented on February 1 following the changed introduced by then finance Minister Arun Jaitley. Also the rail budget were merged with  the Union Budget.