Nirmala Sitharaman To Break Morarji Desai's Record For Most Budget Presentations

Union finance minister Nirmala Sitharaman is to make history by presenting her seventh Union budget on Tuesday, surpassing Morarji Desai's record of six. Desai served as finance minister under Prime Ministers Jawaharlal Nehru and Indira Gandhi before becoming Prime Minister in 197.

The first budget of independent India was presented by then finance minister RK Shanmugam Chetty on November 26, 1947, amounting to ₹197.1 crore. This figure has significantly increased over the years, reaching ₹47.65 lakh crore in the last financial year.

Historical Budget Presentations

Initially, the budget presentation time was set at 5 pm. However, in 1999, then finance minister Yashwant Sinha changed it to 11 am, a practice that continues today. According to Lok Sabha secretariat data, there have been occasions when the Prime Minister presented the general budget instead of the finance minister.

"India's first PM Jawaharlal Nehru presented the budget for the financial year 1958-59 while acting as Prime Minister and temporarily handling the finance portfolio," stated a Lok Sabha document. Similarly, Indira Gandhi tabled the Budget for FY1969-70 after Morarji Desai resigned as finance minister.

Unique Instances in Budget History

In 2019, due to Arun Jaitley's ill health, his colleague Piyush Goyal presented that year's budget. The Railways used to have a separate budget until it was merged with the general budget in 2017.

After presenting the Budget in the Lok Sabha, the finance minister also tables it in the Rajya Sabha. Although the Upper House cannot approve or disapprove the Budget, it engages in discussions and debates on ministry-specific allocations or Demand for Grants.

Budget Discussions and Approval Process

The discussions on Demand for Grants conclude with a process called Guillotine, where all demands are taken up together and passed. The Rajya Sabha does not have authority to alter or reject the budget but refers it back to the Lok Sabha after debate.

The tradition of presenting budgets has evolved over time with various changes and unique instances marking its history. As Nirmala Sitharaman prepares to present her seventh Union budget, she will be setting a new record in India's financial history.