As the Union Budget 2024 is knocking around the corner we at Bajaj Broking have picked 5 facts you didn’t know about the union budget.
The tradition of presenting a budget in India dates back 186 years to 1860, with the first-ever budget by James Wilson.
In 1947, independent India's first budget was presented by Finance Minister R.K. Shanmukham Chetty.
Until 1999, the budget was presented at 5 PM to align with the British Parliament's timing.
The first item ever taxed in independent India was salt, a staple commodity.
In 2017, the budget presentation date shifted to February 1st for smoother parliamentary approvals.