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Today's Budget Facts
Today's
Budget Facts
- R K Shanmukham Shetty presented independent India`s first
economic budget.
- Till date, Morarji Desai has had the longest tenure as
Finance Minister, 8 years.
- CD Deshmukh was the first Indian Governor of RBI to have
presented the Interim Budget for the year 1951-52.
- Jaswant Singh was Finance Minister for 13 days.
- Since 1980, budget papers are printed in North Block.
- A week before the budget is presented, the employees of the
press stay in the ministry and have no means of communicating with
the outside world.
- The 1965-66 budget contained the first disclosure scheme for
black money.
- Jawahar Lal Nehru was the first Prime Minister to present the
budget when he held the Finance portfolio in 1958-59.
- R Venkataraman was the only Finance Minister who later became
the President of India.
- P Chidambaram rewrote India`s Exim Policy in one non-stop
eight-hour sitting in July 1991, when he became the Commerce
Minister.
- Both Yaswant Sinha and Manmohan Singh have presented five
Union Budgets in a row.
- In an election year, Budget may be presented twice - first to
secure vote on account for a few months and later in full.
- The Budget is presented in Parliament on a date fixed by the
President.
- Morarji Desai was the only Finance Minister to have had the
opportunity to present two budgets on his birthday – in 1964
and 1968.
- Three interim budgets were presented in the 1990s. While
Yashwant Sinha presented the interim Budgets for 1991-92 and
1998-99, Manmohan Singh presented the 1996-97 interim Budget.
- The Budget proposed by the Finance Minister comes into effect
after parliamentary discussion on the Budget has been completed by
April 1.
- In 1950-51 budget, the then Finance Minister John Mathai
announced the creation of the Planning Commission.
- Of 17 Budgets since 1991-92, on 10 occasions the stock
markets fell in the one month following the Budget.
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