First Budget of India: Who Presented Country's First Budget, Know Complete Details

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Who Presented Country's First Budget, Know Complete Details

First Budget of India: For your information, let us tell you that the Central Government presents the general budget of the country every year in February. It contains details of expenses and income for the year. The budget every year gives hope to the people of the country.

Union Finance Minister Nirmala Sitharaman is going to present the budget for the sixth time this year. People are expected to get many good news from the election year budget. Today we will give you interesting information about the development of the budget.

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The first budget came during the British rule.

The tradition of presenting the Union Budget has been there since the British rule. The country's first budget came in 1860, during the British rule. After this, there were improvements several times during successive budgets.

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Who presented the first budget?

Today, even though the Finance Minister presents the budget before the country. But James Wilson, a Scottish economist associated with the East India Company, presented the country's first budget in April 1860. It was first introduced after independence on November 26, 1947 by RK Shanmukham Chetty. Chetty was a financial expert and also a lawyer. Notably, the first budget of independent India contained no tax proposals. It contained recommendations from August 15, 1947, to March 31, 1948.

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Budget presented in Hindi for the first time in 1955?

Till 1955, even in independent India, following the British tradition, the budget was written only in English. Hindi was also included from 1955-56. CD Deshmukh, the first Governor of the Reserve Bank of India and the third Finance Minister of the country, made the budget in Hindi. On 11 August 1943, the British government appointed Deshmukh as the Governor of RBI. He assumed office on June 30, 1949.

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Publish Date: January 10, 2024

Posted By Sunil

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