InvestorQ : I recently heard that the Union Budget proceedings have changed significantly over time. Is that true?
Tanya Mehta made post

I recently heard that the Union Budget proceedings have changed significantly over time. Is that true?

Answer
image
Suresh Patil answered.
2 years ago
Follow

Yes, that’s completely true.

From the following points you’ll know how the proceedings of the Union budget have changed over time.

- Until 1999, the Union Budget was announced at 5 pm on the last working day of February.

- Ex Finance Minister Yashwant Sinha changed the timing of the Union Budget presentation from the previous 5pm to 11am in 1999.

- Until 2016, the Union Budget used to be presented on the last working day of February

- Finance Minister Arun Jaitley changed the tradition of presenting the Union Budget on the last day of February to the first of February (February 1, 2017)

- Not just that, Finance Minister Arun Jaitley also did away with the Railway Budget, which used to be presented two days prior to the Union Budget and merged the two in 2017.

0 Views