Union Budget 2021: When was 'Black Budget' announced? How presentation changed after 2016? Look at 10 lesser known facts
New Delhi | Jagran Business Desk: Union Budget 2021 is all set to be presented on February 1, 2021, by Finance Minister Nirmala Sitharaman and everyone is eyeing this year's budget as this will be the first after the country suffered a massive plunge in its economic growth due to the coronavirus pandemic. People also have a lot more expectations for the upcoming budget across sectors like railways, infrastructure, farming, education, aviation as all these sectors have witnessed a huge hit due to the corona crisis.
The upcoming budget has been described as a "never before" event by Finance Minister, who recently concluded pre-Budget consultations and people are hoping high from Nirmala Sitharaman's address on February 1. Now as people await the Union Budget 2021, we brought you some recent changes in the Budget presentation over the past few years.
Earlier, the Railway Budget and the Union Budget were presented separately but since 2017, the government started presenting both the railway and the Union Budget together. There is yet another change this year, as this will be the first time when the budget is going to be completely paperless and this has been done due to the coronavirus pandemic.
The printing of the budget requires 100 people and for that, the concerned people need to stay in one place for a fortnight so that the budget could be printed by the morning. However, this time the government is trying to avoid the large gathering and thus the budget will be presented in soft copies.
Meanwhile, we have compiled a list of some amazing facts that you need to know about India's Union Budget:
1. Nirmala Sitharaman ditched the old traditional style of carrying the budget in a briefcase in 2019 and she carried a Red packet with the National Emblem wrapped with a ribbon.
2. The word budget is derived from 'bougette' which means a leather bag in French.
3. Earlier, before the independence the budget timing was 5 PM and it was started by Basil Blackett in 1924. Later, in 2001, NDA Finance Minister Yashwant Sinha changed the time of the budget presentation to 11 AM.
4. Indira Gandhi was the first woman Finance Minister to present the budget on February 28, 1970.
5. The first budget of India after independence was presented by RK Shanmukhan Chetty on November 26, 1947.
6. Earlier, till 2017, the railway and union budget were presented separately after that they were presented into a single presentation.
7. The year 1973-74 is known as the black budget year as at that time the budget deficit was Rs 550 Crore.
8. It was till 2016 that the Union Budget was presented on the last working day of February. However, the Former finance minister Arun Jaitley changed the tradition and it started presenting on the first day of February.
9. Moraji Desai was the one who presented the maximum number of budgets (10) between 1962-69 during his tenure as finance minister.
10. Till 1955, the budget was presented only in the English language and after that year, Congress decided to print the budget in both Hindi and English.
Posted By: Deeksha Sharma