3. Annual Financial Statement
Presented on Last working Day
of February
By Financial Minister
In parliament
Facts
1st Union Budget of Independent India was presented by R.K
Shanmukham Chetty on November 26, 1947
Last Union Budget of India i.e Budget of 2012-13 is presented
by Pranab Mukherjee, the Finance Ministry of India on 16th
March 2012
Until the year 2000, the union budget was announced at 5 pm
on the last working day of the month of February
This practice was inherited from the Colonial Era, when the
British Parliament would pass the budget in the noon followed
by India in the evening of the day.
It was Mr. Yashwant Sinha, then the Financial Minister of India in
the NDA Government led by Atal Bihari Vajpayee, who Changed
ritual by announcing the 2001 Union Budget at 11 am
Currently P. Chidambaram is the Finance Minister of India and
he would be presenting Union Budget 2013-14 on 28 February
in Parliament