Budget History: 5 Interesting Facts You Did Not Know!

From briefcase to tablet, see the transformation in how the Union Budget is presented.

The Black Budget of 1973-74

The 1973-74 Union Budget is known as the "Black Budget" due to a significant fiscal deficit of ₹550 crores.

The Carrot & Stick Budget

In 1986, VP Singh's budget balanced incentives with strict measures, dismantling License Raj while tackling tax evasion.

First Interim Budget of Free India

RK Shanmukham Chetty presented India's first interim budget in 1947, a 10,000-word document spread across 39 pages.

The Budget Leak of 1950

A leaked budget in 1950 led to the resignation of Finance Minister John Mathai, sparking a move towards a more secure budget process.

Halwa Ceremony Tradition

The Halwa Ceremony marks the start of the budget printing process, with officials locked in until the budget is presented.