Which country presented the first budget ? When was the first budget presented in India, know…
World First Budget: Which country presented the first budget ? Finance Minister Nirmala Sitharaman will present the budget on February 1, 2025. The budget will be presented in the Lok Sabha at around 11 am. Nirmala is going to present the budget for the eighth time. Preparations are in full swing for this. People are hoping that this budget will be people-oriented. Will there be an announcement to reduce poverty? The middle-class people are waiting to know this. But what will be announced in the budget will be clear after the budget comes, but do you know which country started this budget tradition first ? When did India present the budget for the first time ?
Budget preparation in full swing
These days, preparations for preparing the budget are going on in full swing in the Union Finance Ministry i.e. North Block. Last weekend, the ‘Halwa Ceremony’ was held in the Finance Ministry. After this, the main employees who prepare and print the budget have been locked in North Block. Now, until the budget is presented in Parliament, they will neither be able to go home nor will they be able to contact their family members. They will not even have mobile phones.
Where did the word budget come from?
The word budget is derived from the Latin word ‘bulga’. In French it is also called buget. When this word was called in English, it became buget. Over time, this word came to be called budget. Almost all the countries of the world adopted it.
World First Budget ; In which country was the budget presented for the first time?
The word budget comes from the Latin word ‘bulga’. In French, it was called baguette. When this word was used in English, it became bogat. Which was later called budget. And when it comes to the country that presented the first budget, the name of England comes first. The budget tradition first started in England. In 1960, England started presenting the budget for the first time at the beginning of each financial year. Later, other countries brought budgets.
Since when is the budget being presented in India
Budget in India started during the British era. After the revolt of 1857, the British called a great economist James Wilson to India to improve the country’s financial system. He presented India’s first Union Budget on 7 April 1860. If we talk about post-independence, the then Finance Minister RK Shanmugam Chetty presented the first budget of independent India on 26 November 1947.
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