Who will present Budget 2024 and how is it prepared?
Nirmala Sitharaman is set to present her seventh consecutive budget since 2019, joining an exclusive group of finance ministers who have delivered at least five consecutive Union Budgets. This distinguished group includes notable figures such as Morarji Desai, Manmohan Singh, P. Chidambaram, Yashwant Sinha, and Arun Jaitley.
Following the Lok Sabha elections, this budget will be the first full budget presented as part of Modi 3.0.
Prior to 2016, the budget was traditionally presented on the last day of February. However, starting in 2017, the budget has been consistently presented on February 1 each year.
A notable shift occurred with the Union Budget 2021 when Finance Minister Nirmala Sitharaman introduced a paperless format for the first time. Departing from the traditional Swadeshi 'bahi khata,' she embraced modern technology by delivering the budget using a tablet enclosed in a red cover adorned with a golden national emblem.
The Budget making process:
The budget-making process typically begins in September, over six months before the presentation date, generally on February 1. Earlier this year, the Finance Minister presented a vote-on-account budget due to the General elections scheduled from April 19 to June 1.
Creating a budget is a time-consuming process that involves numerous steps and consultations.
The Union Budget of India is not created overnight. Instead, it involves months of meticulous planning, consultations, and compilation efforts. Here’s a look at the collaborative endeavors of various
