Finance Minister Nirmala Sitharaman To Create History
Delhi/Hyderabad, Jan 30 (Maxim News) Finance Minister Nirmala Sitharaman is set to create history. It is known that the minister will present the budget in Parliament on February 1. This is the 9th budget presented by Union Minister Nirmala Sitharaman in a row. The record of presenting the budget 9 times in Parliament belongs to former minister P. Chidambaram. Minister Chidambaram presented the budget for the first time in 1996 under the leadership of the then Prime Minister HD Deve Gowda. After that, he presented the budget for the second time in 1997, five times between 2004-08, and two more times in 2013 and 2014. Minister Nirmala Sitharaman will equal this record from tomorrow. She has already acquired the rare distinction of being the person who gave the longest budget speech in the Lok Sabha (Finance Minister Nirmala Sitharaman To Set New Record).
The first budget for India was presented in 1860 by the then Finance Minister James Wilson. He brought this budget as a member of the Council of India. After the Sepoy Mutiny of 1857, the colonial rulers brought this budget in the name of reforms in the Indian economy.
After independence, on November 26, 1947, India’s Finance Minister R.K. Shanmukham Chetty presented the first budget in Parliament.
Former Prime Minister Morarji Desai holds the record for presenting the most budgets. He presented a total of 10 budgets in Parliament. He presented six budgets as Finance Minister between 1959-64 and then four more budgets between 1967-1969.
Pranab Mukherjee has also presented a total of 8 budgets on different occasions. He presented the budget three times in a row between 1982-84 and then five times in a row between 2009-12.
Former Prime Minister Manmohan Singh presented the budget as Finance Minister in the PV Narasimha Rao government for five consecutive terms.
The Finance Minister holds the record for the longest budget speech. She spoke for 2 hours and 40 minutes during the budget session on February 1, 2020. She finally ended her speech with two pages of details remaining.
Hirubhai Patel holds the rare distinction of being the minister who completed a budget speech in the shortest time in the history of India. He finished his speech in just 800 words when he presented the interim budget in 1977.
Until 1999, the Indian budget was presented by finance ministers on the last day of February at 5 pm, in accordance with British Standard Time. However, the then finance minister Yashwant Sinha changed the time of presentation of the budget to 11 am, ending this tradition.
In 2017, the government changed the budget date from the end of February to the first of March. This change was made to enable Parliament to approve the budget by the end of March. (Maxim News)
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