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Facts about Indian Budget

Facts about Indian Budget

  • The world Budget is a derivative of the Middle English word ‘Bowgette’ & French word ‘Bougette, which is a derivative of ‘Bouge’, meaning “LEATHER BAG:.
  • On November 26th, 1947, R.K. Shanmukham Chetty presented the 1st Budget of Independent India but it was a review of the economy and no new Taxes were proposed.
  • The 1950-51 Budget saw a surplus Budget for the first time.
  • Moraji Deasi has presented the maximum number of Budgets, He has presented 10 Budgets. He holds a unique record of presenting 2 budgets on his birthday (29/2/1964 and 29/2/1968).
  • The Employees printing the Budget papers are kept in complete isolation in the finance ministry for 1 week before the budget.
  • Finance Minister who has been for 13 days is Jaswant Singh.
  • In the present history budget is the political tradition which is steeped in every part of human life.
  • The government of India makes its own guidelines and also some outlines for the budget for the next upcoming years.
  • There will be two economic forecasts to which the government treasury will be legally bound.
  • The Indian government has planned to give 400 Crore rupees for the extending of green revolution.
  • The amount which is given to the power sector has also been doubled in the present year by the Indian government of upto 5,130 crore rupees.
  • The Finance Minister also given a very surprising gift to the people of India for the present year the surcharge is also has been removed.