Union Budget 2021: Know why England's Finance Minister was forced to resign before India's first Budget
New Delhi | Jagran Business Desk: Finance Minister Nirmala Sitharaman is going to present her second Union Budget on 1 February 2021. The budget session will start from January 29 and will end on April 8. All eyes are on this year's budget this is the first budget after the Indian economy suffered a massive plunge due to COVID-19 pandemic.
As per reports, the first part of the Union Budget 2021 will be held from January 29 to February 15, while the second part will be held from March 8 to April 8, 2021.
The history of the Union Budget is very interesting like when was the first budget presented, who presented the maximum budget and so on. Earlier, we told you which Finance Minister presented the maximum budget, now we are here with another interesting fact regarding a Finance Minister of England who had to resign abruptly.
As we all know that in the year 1947, the Indian government presented its first budget after just three months of independence. On 26 November 1947, independent India presented its first budget under the then finance minister RK Shanmukham Chetty.
RK Shanmukham Chetty was the first Finance Minister of independent India, however, due to his negligence the then Finance Minister of England had to resign. It is said that Shanmukham Chetty made a mistake and a part of the budget got leaked, after which a journalist in England made all the information related to tax public. Owing to this reason, Finance Minister of England, Hugh Dolton had to resign before the budget was presented in India.
Meanwhile, ahead of budget 2021-22, Prime Minister Narendra Modi will chair an all-party meeting on 30 January 2021. In this meeting, the Centre will put forth its legislative agenda for the Budget session of Parliament.
Lok Sabha Speaker Om Birla also chaired a high-level meeting of top government officials on holding the Budget session amid the COVID-19 pandemic situation.
Posted By: Niharika Sanjeeiv