Key Facts About The Union Budget
By: EjazUlHaqBhat
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The Union Budget is a cornerstone of India's economic framework, outlining the government's fiscal policies and priorities for the upcoming financial year
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On February 1, Finance Minister Nirmala Sitharaman will present the Budget in Parliament. Here are some key facts about the Union Budget
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The word 'Budget' comes from the French term 'bougette', which means a small leather briefcase
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The Budget is presented on February 1 each year to allow sufficient time for any legislative changes to be implemented before the new financial year begins
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A unique and famous tradition- 'halwa ceremony' - marks the finalisation of the Budget
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Traditionally, the Budget documents were printed and carefully guarded. In 2021, the Budget went entirely paperless after Nirmala Sitharaman presented it using a 'Made in India' tablet
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In 1955, the Congress-led government introduced the first-ever Hindi version. Now the Budget is presented in both English and Hindi
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The Budget presentation time was shifted from 5 pm to 11 am in 1999 by Finance Minister Yashwant Sinha, moving away from the British-era tradition
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Similarly, in 2017, Arun Jaitley changed the date from the last working day of February to February 1, streamlining the process
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