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Union Budget 2021-22 To Be Presented On February 1. Here Are Important Facts About Past Budgets

Budget 2021: Key Facts About India's Past Union Budgets

Finance Minister Nirmala Sitharaman will current Union Funds on February 1

Finance Minister Nirmala Sitharaman will current Union Funds on February 1 for the upcoming monetary 12 months 2021-22. The Funds 2021-22 assumes significance as this might be offered throughout the ongoing Covid-19 pandemic and would make clear how the federal government allocates funds to revive the financial system which is more likely to contract by 7.7 per cent for monetary 12 months 2020-21. Specialists say that the Funds 2021 will give attention to authorities’s Atmanirbhar Bharat Abhiyan and count on incentives for manufacturing sector on prime of the just lately introduced manufacturing linked incentive scheme. Union Funds is preceded by the presentation of Financial Survey by the Chief Financial Advisor.

Listed here are necessary information concerning the Union Budgets offered up to now

  1. The primary Funds of impartial India was offered by the then Finance Minister RK Sanmukham Chetty on November 26, 1947, in line with in line with information out there on Division of Financial Affairs’ web site – dea.gov.in.

  2. The primary Funds of impartial India focused price range income of Rs 171.15 crore.

  3. The Funds assertion offered by Mr Chetty coated a interval of seven and half months from August 15, 1947 to March 31, 1948, in line with Division of Financial Affairs’ web site.

  4. Former Finance Minister Morarji Desai has offered the annual Funds 10 instances – the very best variety of Funds displays by a finance minister in India.

  5. He’s adopted by P Chidambaram – who has offered 9 Budgets – and Pranab Mukherjee (eight).

  6. KC Neogy, who solely held workplace for 35 days, is the one finance minister to not have offered a Funds.

  7. Till 1999, the Union Funds was introduced at 5 pm on the final working day of February.

  8. In 1999, then finance minister Yashwant Sinha modified this custom by asserting the Union Funds at 11 am.

  9. Until 2016, the Union Funds was offered on the final working day of February. Former finance minister Arun Jaitley, nonetheless, modified that custom in 2017. In 2017, the Union Funds was offered on February 1. Until 2016, the Railway Funds was offered few days earlier than the Union price range. In 2017, nonetheless, the railway price range was offered together with the Union Funds – a shift from a 92-year-old follow.

  10. Finance Minister Nirmala Sitharaman turned the second girl to current the Union Funds after Narendra Modi-led Nationwide Democratic Alliance returned to energy in Might 2019.

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