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India's Union Budget: Interesting facts and history you should know about

Nirmala Sitharaman is India's first full-time female Finance Minister. By presenting her eighth budget, she strengthens her place in India's political and economic history

Finance Minister Nirmala Sitharaman

New Delhi: Union Finance Minister Nirmala Sitharaman arrives at the Parliament House complex to present the ‘Union Budget 2025-26’, in New Delhi, Saturday, Feb. 1, 2025. (PTI Photo/Shahbaz Khan)

Md Zakariya Khan New Delhi

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Union Finance Minister Nirmala Sitharaman will present her eighth consecutive Union Budget and 14th budget of the NDA government in Parliament today. This brings her closer to the record of 10 Budgets set by former Prime Minister Morarji Desai. Here are some important facts and a snapshot of the history of India’s Union Budgets.
 

Nirmala Sitharaman’s achievements

 
Nirmala Sitharaman is the first finance minister to present eight consecutive Union Budgets. By presenting her eighth budget, she strengthens her place in India’s political and economic history. 
  

Who holds the record for most budgets?

 
Morarji Desai (10 Budgets) – India’s Finance Minister from 1959 to 1969, Desai presented 10 budgets, the most in Indian history.
 
 
P Chidambaram (9 Budgets) – As Finance Minister under different governments, Chidambaram presented nine budgets, introducing key tax reforms and economic policies.  ALSO READ: Cabinet approves Union Budget 2025-26, to be tabled in Parliament shortly
 
Pranab Mukherjee (8 Budgets) – Mukherjee, who served multiple times between the 1980s and 2012, played a major role in shaping India’s economy.
 

Unique budget moments

 
Longest Budget speech – In 2020, Nirmala Sitharaman gave the longest budget speech ever, lasting 2 hours and 40 minutes. She could not complete the last two pages due to time limits
 
In sharp contrast, the shortest budget speech in India’s history was given by Hirubhai Mulljibhai Patel during the interim budget of 1977. Lasting just 800 words, it was unusually brief for a typically long and detailed presentation.
 
Changes in budget timing – Earlier, India’s Union Budget was presented at 5 pm on the last day of February, a practice that began during the colonial era to match British Summer Time. In 1999, Finance Minister Yashwant Sinha changed the timing to 11 am to modernise the process and make it more convenient for the Indian audience.  ALSO READ: Will Goddess Lakshmi smile on the middle-class in Union Budget 2025? 
 
In 2017, the Budget presentation date was changed to February 1. This allowed Parliament to approve it more quickly before the fiscal year ended on March 31. The change helped the government implement budget plans from April 1, avoiding delays caused by the previous late-February schedule.
 

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First Published: Feb 01 2025 | 11:02 AM IST

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