Finance Minister Nirmala Sitharaman is set to present her eighth consecutive Union Budget on February 1, 2025. With this, she moves closer to the record held by former Prime Minister Morarji Desai, who presented 10 Union Budgets during his tenure. Sitharaman’s achievement is particularly notable as she is the first woman to serve as a full-time finance minister of India.
Notable Records in Union Budget Presentations
Morarji Desai’s Record of 10 Budgets
Morarji Desai holds the record for presenting the most Union Budgets in India’s history. As finance minister between 1959 and 1969, he delivered a total of 10 budgets, including both full and interim budgets. His first budget was presented on February 28, 1959.
P. Chidambaram: The Second-Highest Presenter
Former Finance Minister P. Chidambaram follows closely with nine Union Budgets to his name. He presented his first budget in 1996 under the United Front government and later delivered five consecutive budgets under the Congress-led UPA government between 2004 and 2008.
Pranab Mukherjee’s Contribution
Pranab Mukherjee, another key figure in Indian economic policymaking, presented a total of eight Union Budgets. His tenure as finance minister spanned from the early 1980s to 2012, during which he played a pivotal role in shaping India’s economic landscape.
Budget Speech Records
Longest Speech
Nirmala Sitharaman holds the record for delivering the longest budget speech in India’s history. On February 1, 2020, her speech lasted 2 hours and 40 minutes. However, she was unable to complete the last two pages due to time constraints.
Shortest Speech
The shortest speech on record was delivered by Hirubhai Mulljibhai Patel in 1977 during an interim budget presentation. His speech was only 800 words long.
Evolution of Presentation Timing
Traditional Evening Presentations
Historically, the Union Budget was presented on the last day of February at 5 p.m. This timing, a colonial-era practice, was chosen to align with British Summer Time in London.
Change in Timing to Morning Sessions
In 1999, Finance Minister Yashwant Sinha changed the budget presentation time from 5 p.m. to 11 a.m., marking a significant shift in tradition.
Shift in Date to February 1
A major change in the budget presentation date came in 2017 when the government moved it to February 1. This adjustment was made to allow the parliamentary approval process to be completed by March 31, ensuring the budget’s implementation from April 1. Prior to this, budgets were often presented on February 29, which resulted in delays in the fiscal year’s execution.
As Sitharaman prepares to present the upcoming budget, her tenure continues to add to India’s rich history of economic policymaking and budgetary milestones.
Also Read: India’s First Full Budget: A Historic Financial Roadmap For The Country