Budget: Fun Facts

Posted By: VidyalaxmiPosted date: July 04, 2014in: Budget Fun Facts, Fun with Finance
Origin of Budget
The word budget is derived from bowgette, which means a leather bag in French. This bag is
normally used to keep money.
The secret mission of Union Budget
The highly confidential Budget papers are printed at finance ministrys own printing press. Publishers
of the budget under the finance ministry are kept isolated from the press and other sources one
week prior to the disclosure.
The Woman Power
After Morarji Desais resignation in 1979, Indira Gandhi took over as the Finance Minister of India.
And guess what? She has been the only Woman Finance Minister of the country.
Day & Night Affair
Has the Union Budget always been presented at 11 am? Till the year 2000, the Union budget was
announced at 5 pm. Yashwant Sinha set the new trend by announcing the Budget at 11 am in 2001.
Since then it has been a morning affair.
Pre-independence era
India had its first budget even before it got Independence. The budget was first introduced in India
way back on 7th April, 1860 by the East-India Company to the British Crown.
The Interim & Final Saga
In 1991, for the first time, the interim and final budgets were presented by two ministers of two
different political parties. History repeats itself in 2014.
Firangi Tadka
The Budget was first introduced in India on 7th April, 1860 from East-India Company to British
Crown. The first Finance Member, who presented the Budget in India, was James Wilson on 7th
April, 1860
Budget in a Desi Avtaar
Budget papers began to be prepared in Hindi from 1955-56.
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