Union Budget 2022: 6 Amazing Questions on Indian Budget You Never Knew

The term 'Budget' is not mentioned in the Indian Constitution. It is mentioned as the ‘Annual Financial Statement’ in Article 112 of the Indian Constitution. The Union Budget is an estimate of income and expenditure of the Central Government for a definite duration, usually one year.
Updated: Feb 1, 2022 11:05 IST
Budget in India
Budget in India

Union Budget 2022: According to Article 112 of the Indian Constitution, the Union Budget of India is known as the ‘Annual Financial Statement’. The first Union budget of independent India was presented by R. K. Shanmukham Chetty on November 26, 1947. The Union Budget 2022-23 will be presented by FM Nirmala Sitharaman on 1 February 2022 at 11 a.m.

Also Read | GK Quiz on Union Budget 2022

In this article, we have answered 6 amazing questions based on the Union Budget of India.

Question.1. If Hindi is our national language, why is the budget in Parliament presented in English?

Ans. Hindi is not our national language and is one of many official languages of India. There are 22 official languages used by the states, including English, Assamese, Bengali, Hindi, Kannada, Kashmiri, Maithili, Malayalam, Marathi, Punjabi, Sanskrit and Urdu. Every Indian state is free to use its own official language.

But in Parliament, most of the Members of Parliament are comfortable with English as they come from different states and have different native languages, and English is known to almost everyone.

You must have seen politicians sitting in the parliament bearing an earphone. Actually, this earphone has the ability to translate the language from English to Hindi and vice-versa. Since1955-56, the Budget documents are printed both in English and Hindi.  

jaitley presenting budget

Image source:The Caravan


2. When was the first Union Budget of India presented?

Ans. The first Finance Minister of independent India was R. K. Shanmukham Chetty. He presented the first Union budget of India on 26 Nov.1947. The first mini-budget was presented by T. T. Krishnamachari on November 30, 1956.

Also Read | What people are searching the most on Google regarding Budget 2022?

Jagranjosh

3. While going to present the budget in the parliament, what does Finance Minister carry in their briefcases?

Ans. The tradition to bring a briefcase to the present budget started around 1860 when William Ewart Gladstone was the Chancellor of the Exchequer in Great Britain. He was notorious for presenting very long budget speeches which lasted 5 to 6 hours.

Since such long budget speeches required lots of files & documents, he felt the need for a box to organize and carry them to the parliament (House of Commons). That is why a briefcase called the “Budget Box” was presented to him by the Queen for this purpose.

In the year 2019, Finance Minister Nirmala Sitharaman replaced the Budget briefcase with the traditional 'Bahi Khata' having the National Emblem. 

Finance Ministers

Image source:Guruprasad's Portal

4. Why Indian Budget is always made a Budget for the deficit?

Ans.  As we know India is a welfare state and the government works for the welfare of its citizens. Thus, when the government expenditure exceeds its revenue, a deficit is created in the economy through printing more currency and borrowing from other countries.

Thus, the lack of revenue of the central government is the basic reason behind the formation of the deficit budget.

fiscal deficit 2018

image source:ibef

5. Why Budget is called Union Budget?

Ans. India is a Union of states. In any federation, there are two main entities, federal states, and the centre. India has a stronger centre with less strong federal states. The centre is called a Union in our constitution, hence, the budget of the union is called the “Union budget”.

Union Budget 2022: 21 Interesting Facts About Indian Budget

6. Why the Budget was presented digitally in Parliament?

Ans. FM Sitharaman presented the first paperless Budget in FY 2021-22 keeping in view the COVID-19 pandemic. Like the previous year, the Budget is expected to be paperless. 

Important Glossary Related to Budget

Union Budget of India: Definition and different types

Get the latest General Knowledge and Current Affairs from all over India and world for all competitive exams.
Comment (1)

Post Comment

2 + 2 =
Post
Disclaimer: Comments will be moderated by Jagranjosh editorial team. Comments that are abusive, personal, incendiary or irrelevant will not be published. Please use a genuine email ID and provide your name, to avoid rejection.
  • sunilJun 30, 2021
    excellent
    Reply