Why Is Union Budget Presented On February 1
By: EjazUlHaqBhat
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The Union Budget has been presented on February 1 since 2017
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The Budget was earlier presented by the end of February, specifically the last working day of the month
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The shift in the Budget presentation date took place in 2017 under the tenure of Finance Minister Arun Jaitley
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The decision to shift the Budget to February 1 was driven by the need for more time to prepare for the new financial year, which begins on April 1
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In the past, the custom of presenting the Union Budget at the end of February often delayed proceedings
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Another change was the shift in the time of the day the Budget is presented
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Till 1999, the Budget was presented at 5 pm on the last working day of February, a tradition rooted in the British colonial era
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In 1999, under the leadership of then-Finance Minister Yashwant Sinha, the timing was brought forward to 11 am
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In 1999, under the leadership of then-Finance Minister Yashwant Sinha, the timing was brought forward to 11 am
Image: Pexels
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