5 Landmark Budgets That Shaped India's Economy
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The Union Budget has a rich history dating back to 1947 when RK Shanmukham Chetty presented the first budget of independent India
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Let's take a look at five landmark budgets that shaped India's economy
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Former Finance Minister TT Krishnamachari's Budget for 1957-58 introduced groundbreaking tax reforms, including wealth tax
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This tax was levied on the total value of personal assets, marking a significant shift in India's tax policy
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The 1991 Budget presented by Manmohan Singh aimed to address the severe economic crisis facing the country
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This landmark budget had a profound impact, improving India's reputation worldwide and ending "Licence Raj"
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P Chidambaram's 1997 Budget was labelled "Dream Budget" by experts. It was significant for reducing personal income tax and corporate tax
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Yashwant Sinha delivered a landmark Budget under Atal Bihari Vajpayee's regime. The budget revolutionised the IT sector by lowering customs duty on 21 items
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Arun Jaitley's Budget in 2017-18 marked a historic shift by merging the Union Budget and Railway Budget presentations, ending a tradition of 92 years
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