10 fascinating facts about the Union Budget you should know

First budget The first Union Budget of India was presented on November 26, 1947, by the country’s then-finance minister RK Shanmukham Chetty.

Longest budget speech In 2020, Finance Minister Nirmala Sitharaman delivered the longest budget speech, lasting two hours and 42 minutes.

Shortest budget speech The shortest budget speech was delivered by former Finance Minister Hirubhai M Patel in 1977, lasting just 800 words.

Merging the Railway budget  In 2017, the separate Railway Budget was merged with the Union Budget for the first time. The Railway Budget had been presented separately since 1924.

Paperless budget The Union Budget 2021-22 was India’s first completely paperless budget with digital copies provided to Parliament members.

Halwa ceremony The traditional Halwa ceremony marks the start of budget printing, symbolising the secrecy and effort behind its preparation.

Budget presentation time The budget had been presented at five pm until 1999 but the time was shifted to 11 am during Atal Bihari Vajpayee’s tenure. 

Interim vs full budget  During election years, an interim budget is presented for temporary funding until the new government takes office.

Union Budget day The budget is typically presented on February 1 to allow sufficient time for parliamentary discussions before the financial year begins.

Pre-budget economic survey The Economic Survey, presented a day before the budget, provides an overview of the economy’s performance and recommendations.

Nirmala Sitharaman’s budget sarees: A celebration of Indian weaves