 "Flashbacks: Here're some key facts about Union Budget that will amaze you")
1991-92.
Two ministers of two different political parties presented the interim (Yashwant Sinha, BJP) and final (Manmohan Singh, Congress) budgets.
Until 1955.
Budget was printed only in English. From 1955-56, Budget papers began to be printed in Hindi as well.
1986-87.
Presented by V P Singh, it came to be called the “carrot and stick Budget”. One, it was aimed at checking black marketing and smuggling. Two, it introduced the Modified Value Added Tax (MODVAT) that allowed relief to final manufacturers on the excise duty paid by their suppliers on the components and raw materials.
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