Explore
Settings

Settings

×

Reading Mode

Adjust the reading mode to suit your reading needs.

Font Size

Fix the font size to suit your reading preferences

Language

Select the language of your choice. NewsX reports are available in 11 global languages.
we-woman
Advertisement · Scroll to continue

Interesting Factoids About Union Budget That You’d Love To Know

Explore intriguing facts about India's Union Budget, from Nirmala Sitharaman's record-breaking speeches to the historic merger of the Railway Budget in 2017. More about iconic budgets like the "Black Budget" and "Epochal Budget," and discover unique moments that shaped India's economic history.

Advertisement · Scroll to continue
Interesting Factoids About Union Budget That You’d Love To Know

ECONOMIC SURVEY 2025


Finance Minister Nirmala Sitharaman holds the record for delivering the longest Union Budget speech, speaking for 2 hours and 42 minutes during the Union Budget 2020-21 on February 1, 2020. In the same speech, she had to cut short her address due to feeling unwell, despite having two pages left to deliver. She had previously broken the same record in 2019, delivering a speech that lasted 2 hours and 17 minutes.

Advertisement · Scroll to continue

India’s First Budget

India’s first Budget was presented on April 7, 1860 by James Wilson, a Scottish economist and politician from the East India Company. The first Budget of independent India was presented by Finance Minister R K Shanmukham Chetty on November 26, 1947.

Longest Budget Speech

The longest Budget speech in terms of word count was delivered by Manmohan Singh in 1991, totaling 18,650 words during the Narasimha Rao government. Arun Jaitley’s speech in 2018 was the second longest, with 18,604 words, spoken over 1 hour and 49 minutes.

Advertisement · Scroll to continue

Shortest Budget Speech

The shortest Budget speech was delivered by Finance Minister Hirubhai Mulljibhai Patel in 1977, consisting of only 800 words.

Most Budget Presentations

Former Prime Minister Moraraji Desai holds the record for presenting the most budgets, delivering 10 budgets from 1962 to 1969. Other notable finance ministers, such as P Chidambaram, Pranab Mukherjee, Yashwant Sinha, and Manmohan Singh, have also presented multiple budgets.

Time of Presentation

The Union Budget was traditionally presented at 5 pm on the last working day of February until 1999. In that year, Finance Minister Yashwant Sinha moved the presentation to 11 am. In 2017, Arun Jaitley changed the tradition, presenting the Budget on February 1.

Language of the Budget

Until 1955, the Union Budget was presented only in English. Later, the Congress-led government decided to print the Budget papers in both Hindi and English.

Paperless Budget

In 2021, the Union Budget was presented in a paperless format for the first time in India’s history, prompted by the COVID-19 pandemic.

First Woman to Present the Budget

In 2019, Nirmala Sitharaman became only the second woman to present the Union Budget, following Indira Gandhi who presented the 1970-71 budget. Sitharaman also made history by using a traditional ‘bahi-khata’ instead of the usual budget briefcase to carry her speech and documents.

Railway Budget

The Railway Budget and the Union Budget were presented separately for 92 years until they were merged in 2017, ending the long-standing tradition.

Printing of the Budget

Until 1950, the Union Budget was printed at Rashtrapati Bhavan but was moved to a press on Minto Road in New Delhi after it was leaked. In 1980, the Budget began to be printed at a government press in the North Block, which houses the finance ministry.

Iconic Budgets

  • The Black Budget (1973-74): Presented by Yashwantrao B Chavan, this Budget was dubbed the “Black Budget” due to a significant fiscal deficit of Rs 550 crore during a period of financial distress.
  • Carrot & Stick Budget (1986): Presented by VP Singh, it introduced the MODVAT system and launched a crackdown on smugglers and tax evaders.
  • Epochal Budget (1991): Manmohan Singh’s landmark Budget ushered in India’s economic liberalization, slashing customs duties and promoting exports.
  • Dream Budget (1997-98): P Chidambaram’s “Dream Budget” lowered tax rates and launched several major tax reforms, aiming to increase collections while stimulating growth.
  • Millennium Budget (2000): Yashwant Sinha’s Budget laid the foundation for India’s IT industry by phasing out software export incentives and lowering customs duties on computer-related items.
  • Rollback Budget (2002-03): This Budget, also by Yashwant Sinha, is remembered for rolling back several proposals shortly after they were introduced.
  • Once-in-a-Century Budget (2021): Nirmala Sitharaman’s 2021 Budget aimed at reviving the economy through infrastructure investments and privatization.

These interesting facts highlight the evolving nature of India’s Union Budget and the significant role it plays in shaping the country’s economy and policies.

ALSO READTrump Advocates For ‘Quality People’ In The U.S. Amid H-1B Visa Discussion


Advertisement · Scroll to continue

mail logo

Subscribe to receive the day's headlines from NewsX straight in your inbox