NDA government: The Finance Minister will this time make announcements in the budget that cover every general and special tax. Like every time, there are a lot of demands from the budget, the job profession, and the farmer this time as well. But only time will tell if their expectations may be realised to the fullest degree. The budget will be presented by Finance Minister Nirmala Sitharaman for the fifth time, making her the first female finance minister.
Beginning in 2001, the budget address begins at 11 a.m.
You may recall that the Union Budget 2023 was presented in the evening prior to this.
People who were born after 2001 might not be aware that the budget was previously delivered in the evening. In this case, it would be equally intriguing to learn why the Union Budget was originally given in the evening and why it is currently delivered at 11 a.m. Following independence, many British customs were upheld for many years. One of these customs was the budget presentation at five o’clock in the evening.
A significant change in the NDA government
The annual budget presentation at 5 o’clock was discontinued in 2001. The NDA government’s then-finance minister, Yashwant Sinha, moved the time of the budget from 5 p.m. to 11 a.m. Since then, it has only been provided in the morning each year. Following this, the UPA government that took office in 2004 continued this custom. The British budget was the rationale for delivering the budget at 5 o’clock in the afternoon. Actually, the budget for India was included in the budget that was announced in Britain at 11 a.m. It was therefore provided in the evening.
The British budget was the rationale for delivering the budget at 5 o’clock in the afternoon. Actually, the budget for India was included in the budget that was announced in Britain at 11 a.m. It was therefore provided in the evening.
The rail budget was incorporated into the overall budget.
Later, the Modi administration began releasing the annual general budget on February 1 instead of February 28. In addition to this, he altered another custom that dates back to the British era. The government also accounted for the separate budget for the railroads in the overall budget. Then-Railway Minister Suresh Prabhu made the recommendation to stop the custom of presenting the Rail Budget separately.
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