The 1973-74 Budget, presented by Y B Chavan, came to be called the “Black Budget”. The 1971 India-Pakistan war and a failed monsoon had caused severe economic distress in India.
Who presented the black budget?
It was a tradition inherited from the UK, where it was started by budget chief William Gladstone, whose speeches were so long that a briefcase was needed to accommodate all his papers.
Who announced the budget of India?
The Union Budget of India for 2021-22 was presented by the Minister of Finance Nirmala Sitharaman on the 1st of February, 2021. The budget is the first one to be presented as paperless due to ongoing COVID pandemic.
Who presented most budget in India?
Morarji Desai has presented 10 budgets which is the highest count followed by P Chidambaram’s 9 and Pranab Mukherjee’s 8. Yashwant Sinha, Yashwantrao Chavan and C.D. Deshmukh have presented 7 budgets each while Manmohan Singh and T.T. Krishnamachari have presented 6 budgets.
Who first presented the budget?
A Scotsman named James Wilson created India’s first budget in 1860. He came to India in 1859 when the British government here was under stress due to the Sepoy Mutiny and aftermath of the revolt of 1857.
When India budget is presented?
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.
What is the budget of India in 2020?
2020 Union budget of India
|Annual Financial Statement of the Central Government for the year 2020–21 The Finance Bill, 2020|
|Party||Bharatiya Janata Party|
|Finance minister||Nirmala Sitharaman|
|Total revenue||₹16.01 trillion (US$220 billion) (8.5%)|
|Total expenditures||₹34.50 trillion (US$480 billion) (28.4%)|
Who is the first woman to present budget in India?
Nirmala Sitharaman is the first woman to present the union budget three times. Indira Gandhi was the first woman who had presented the union budget in 1970. Sitharaman is the second woman to present the minister after Gandhi. Union Budget Mobile App was launched during the Halwa ceremony.
Which budget is used in India?
In India, budgets fall under three main categories: Balanced budget, Surplus budget and Deficit budget. A budget’s classification depends on whether the estimated spending by the government over the year is equal to, lower than or higher than the receipts anticipated.