Union Budget 2022: From Colonial India to 1991 Reforms, A Look at the Journey of India's Financial Plan
2 years, 11 months ago

Union Budget 2022: From Colonial India to 1991 Reforms, A Look at the Journey of India's Financial Plan

News 18  

Come February 1 and Finance Minister Nirmala Sitharaman will present the Union Budget 2022 as India reels under a fresh wave of coronavirus driven by the Omicron variant. Pre-independent India saw its first budget on February 18, 1869, presented by James Wilson, the ‘Finance Member of the India Council’. Although Wilson’s budget was criticised for failing to take into account Indian conditions, it did lay the groundwork for how several economic institutions in India would operate in the future, particularly the income tax, the report states. Independent India’s First Budget Independent India saw its first budget on November 26, 1947, when the first Finance Minister of Independent India, RK Shanmukham Chetty, presented it.

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History of this topic

Manmohan Singh’s iconic 1991 budget speech that changed the country forever – ‘India is now wide awake…’
1 week, 2 days ago

Manmohan Singh’s iconic 1991 budget speech that changed the country forever – ‘India is now wide awake…’

Live Mint  

Manmohan Singh, who passed away on Thursday at 92, was Prime Minister for two terms in the Congress-led UPA government from 2004 to 2014. Singh also served as Finance Minister in the government of Prime Minister PV Narasimha Rao from 1991 to 1996, when he was instrumental in implementing sweeping economic reforms in the country. It was on July 24, …

Congress recalls Manmohan Singh’s ‘groundbreaking’ Liberalisation Budget
5 months, 1 week ago

Congress recalls Manmohan Singh’s ‘groundbreaking’ Liberalisation Budget

The Hindu  

Congress president Mallikarjun Kharge on July 24 recalled the “groundbreaking achievement of the Liberalisation Budget of 1991” and asserted that there is a pressing need once again for meaningful and robust second-generation reforms. Narasimha Rao and Finance Minister Manmohan Singh, ushered in a new era of economic reforms, Mr. Kharge said in a post on X. July 1991 marked a …

Union Budget evokes mixed response from Andhra’s political leaders, industry bodies
5 months, 1 week ago

Union Budget evokes mixed response from Andhra’s political leaders, industry bodies

The Hindu  

The Union Budget-2024, presented by Finance Minister Nirmala Sitharaman in the Lok Sabha on July 23, has evoked mixed response from political parties, trade unions and trade bodies. ‘No clarity on funds’ CPI State secretariat member K. Lokanadham said that the Union budget had ‘once again deceived A.P.’ by failing to give clarity on the amount of funds allocated to …

India readies for 92nd Budget: What the first Budget looked like in 1947
11 months ago

India readies for 92nd Budget: What the first Budget looked like in 1947

Firstpost  

For the sixth time, Finance Minister Nirmala Sitharaman will stand up in Parliament and present the Union Budget on 1 February. Years later, Independent India’s first Budget was presented by first Finance Minister RK Shanmukham Chetty on 26 November 1947 — just three months after India attained freedom from the British — for the seven-and-a half month-period from 15 August …

Budget 2023: Sitharaman joins league of Manmohan Singh, Jaitley for this record
1 year, 11 months ago

Budget 2023: Sitharaman joins league of Manmohan Singh, Jaitley for this record

Hindustan Times  

Union finance minister Nirmala Sitharaman has joined a select league of ministers to present five consecutive federal budgets in independent India. Finance Minister Nirmala Sitharaman holds up a folder with the Government of India's logo as she leaves her office to present the Union budget in the parliament, in New Delhi, India. The other finance ministers who presented the annual …

From 1860 to 2023, Tracing The Union Budget History
1 year, 11 months ago

From 1860 to 2023, Tracing The Union Budget History

News 18  

Union Finance Minister Nirmala Sitharaman will soon present the Union Budget 2023 in Parliament. The Union Budget was first presented to the British Crown on April 7, 1860, by Scottish economist and statesman James Wilson of the East India Company. It was on November 26, 1947, when independent India’s first union budget was presented by RK Shanmukham Chetty, who served …

Budget 2022: 17 interesting facts about Union Budget presentation
2 years, 11 months ago

Budget 2022: 17 interesting facts about Union Budget presentation

Live Mint  

New Delhi: Finance Minister Nirmala Sitharaman will on February 1 present her fourth straight Union Budget when she presents financial statements and tax proposals for fiscal year 2022-23. LONGEST BUDGET SPEECH Sitharaman holds the record for delivering the longest speech when she spoke for 2 hours and 42 minutes while presenting the Union Budget 2020-21 on February 1, 2020. TIME …

Union Budget 2022: Budget Presentation In India And Its Fascinating History. All You Need To Know
2 years, 11 months ago

Union Budget 2022: Budget Presentation In India And Its Fascinating History. All You Need To Know

ABP News  

New Delhi: In the backdrop of the third wave of Covid-19, Parliament will meet from January 31 to April 8 for the Budget Session — the longest annual session. In independent India, the Union Budget used to be presented on the last working day of February, continuing with the colonial-era practice. In 2017, then finance minister Arun Jaitley announced that …

Union Budget 2021: Scottish economist James Wilson presented India's first budget; 8 facts about annual financial statement
3 years, 11 months ago

Union Budget 2021: Scottish economist James Wilson presented India's first budget; 8 facts about annual financial statement

Firstpost  

The Union Budget 2021 is going to be presented by Union finance minister Nirmala Sitharaman on 1 February. It is the third time Sitharaman will be presenting the budget after being appointed as the finance minister and people would be looking forward to seeing how the government plans the budget given the much-needed upheaval from all the losses incurred due …

Throwback Thursday: The Manmohan Singh budget that freed markets, changed India
5 years, 7 months ago

Throwback Thursday: The Manmohan Singh budget that freed markets, changed India

India Today  

India has come a long way from being annexed by the British for 200 long years to becoming one of the fastest-growing economies in the world. But India’s rapid economic transformation after the 1990s--from a tattered, socialist economy to an emerging, liberal global leader--would not have been possible without the contribution of one man--Manmohan Singh. The Manmohan Singh era While …

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