Ahead of Budget 2024, Check History Of India's First Budget
By Anshika Verma17, Jul 2024 11:56 AMjagranjosh.com
Union budget
The Union Budget 2024 will be presented by the Narendra Modi government for the third time. Today, let's go back in time and check the history of India's first-ever budget.
First budget
In 1860, India witnessed its first budget. When a full English text was read by James Wilson in the parliament as the first budget of India.
Nirmala Sitharaman
This year, India’s Finance Minister Nirmala Sitharaman will present the 93rd budget on July 23. India has witnessed its 15 interim and 77 regular budgets.
Who presented India’s first budget?
The first budget was presented by the Scottish economist James Wilson in 1860 when India was still under colonial rule.
History of the First Budget
Notably, India's first budget was presented exclusively in English and it did not make any sense to locals. Now, the budget is presented at 11 am, however, the first budget was presented at 5 Pm.
PM Too Presented Budget
A lesser-known fact about the budget is that it was also presented by Prime Ministers in the past. In the year 1958, PM Jawaharlal Nehru presented the budget.
Other PMs to Presented It
The list includes Morarji Desai, Indira Gandhi, Rajiv Gandhi and Manmohan Singh.
When Budget was printed in Hindi?
A milestone was achieved in the year 1955 when the budget was printed in Hindi and English both.
Information Credits
The above information has been taken from IndiaInfoLine and Firstpost.