3. 1. When was India's 1st Budget presented?
a) November 26, 1947
b) February 29, 1948
c) February 28, 1950
2. Which two Indian finance ministers have presented 5 budgets in a
row?
a) Pranab Mukherjee / P Chidambaram
b) Yashwant Sinha / Manmohan Singh
c) Morarji Desai / Yashwant Sinha
3. Which finance minister has presented a Budget on his birthday?
a) Yashwant Sinha
b) Morarji Desai
c) Jawaharlal Nehru
4.Which finance minister went on to become the President of India?
a) Sarvepalli Radhakrishnan
b) Giani Zail Singh
c) R Venkataraman
4. Six Finance Ministers were the Prime
Ministers
# Jawaharlal Nehru # Indira Gandhi
# Morarji Desai # VP Singh
# Charansingh & # Manmohan Singh
Two Finance Ministers later became Presidents
of India
# R. Venkata raman # Pranab Mukharji
5. The Union Budget of India, referred to as the
Annual Financial Statement in Article 112 of
the Constitution of India, is the annual budget
of the Republic of India, presented each year
on the last working day of February by
the Finance Minister of India in Parliament.
The budget, which is presented by means of
the Financial Bill and the Appropriation bill has
to be passed by the House before it can come
into effect on April 1, the start of
India's financial year.
6. An Interim Budget is not the same as a 'Vote
on Account'.
'Vote on Account' deals only with the
expenditure side of the government's budget,
an Interim Budget is a complete set of
accounts, including both expenditure and
receipts.
Former Finance Minister Morarji
Desai presented the budget ten times, the
most by any
Next is P. Chidambaram Nine times
7. 10 Budgets that changed the face of Indian Economy
1947: Independent India's First Budget by R.K. Shanmukham Chetty, No new taxes, only
review
1951: The 1st Budget of the Republic of India by John Mathai, road map to Planning
Commission
1957: The 'Krishnamachari-Kaldor' Budget by Tiruvellore Thattai Krishnamachari, Restrictions
on Imports
1968: People-sensitive Budget by Morarji Ranchhodji Desai
1973: The Black Budget by Yashwantrao B. Chavan, Nationalization of Insurance Companies
1986: The carrot & stick Budget by V.P. Singh
1987: The Gandhi Budget by Rajiv Gandhi, PM, Minimum Corporate Tax was introduced
1991: The Epochal Budget by Manmohan Singh, Reforms oriented budget – EXIM…
1997: The dream Budget by Palaniappan Chidambaram, launched VDIS
2000: The Millennium Budget by Yashwant Sinha in NDA Govt
This would be 85th Union Budget in Independent India by Arun Jaitely,
NDA Govt.
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19. The Union Budget of India, referred to as the
Annual Financial Statement[1] in Article 112 of
the Constitution of India, is the annual budget
of the Republic of India, presented each year
on the last working day of February by
the Finance Minister of India in Parliament.
The budget, which is presented by means of
the Financial Bill and the Appropriation bill has
to be passed by the House before it can come
into effect on April 1, the start of
India's financial year.
