About Finance Budget in India - Interesting Facts

     In India, Budget was introduced on April07,1860

   The first Finance Minister who presented the Budget was James Wilson

  Liaquat Ali Khan, member of the Interim Government presented the Budget of 1946

   Independent India’s first Budget was presented by R.K. Shanmugam Chetti

   Moraji Desai presented a record number of 10 budgets. He was the Finance Minister from1959-1964and 1967-1970

     C. D. Deshmukh was the Indian Governor of RBI to have presented the interim budget for 1951-1952

     Initially, Budget papers were printed in Rashtrapti Bhavan. In 1950, Budget papers were leaked. This changed the printing venue to Minto Road located Security Press. Since 1980, Budget papers are printed in North Block. A week before the Budget is presented, the employees of the press stay in the Ministry itself and have no means of communicating with the outside world.

     The Budget process has its roots in the Bombay Plan of 1944. Bombay Plan was authored by John Mathai. G D Brila and JRD Tata

     The1991-1992 final and interim Budgets were presented by the Finance Ministers of two different political parties. Yashwant Sinha presented the interim budget and Manmohan Singh presented the final budget

     1965-1966 budget contained the first disclosures scheme for black money

     As of now, R. Venkataraman is the only Finance Minister who later became President of India