01 Feb (GulistanNewsTv): India’s Union Budget has undergone significant transformations since its inception, reflecting the nation’s economic, political, and technological advancements.
Colonial Beginnings: The Budget Briefcase
The tradition of presenting the budget in a briefcase dates back to British colonial times. In 1860, during British rule, the first budget was introduced by James Wilson, the then Finance Minister of the East India Company. This practice continued post-independence, with Finance Ministers presenting the budget documents in a briefcase, symbolizing the nation’s adherence to established protocols.
Post-Independence Developments
After independence in 1947, the Union Budget became a crucial tool for economic planning and development. The first budget of independent India was presented on November 26, 1947, by Finance Minister R.K. Shanmukham Chetty. Over the years, the budget presentation evolved, with changes in timing, language, and the introduction of new economic policies.
Modernization and Digitalization
In recent years, the budget presentation has embraced modernization and digitalization. In 2021, Finance Minister Nirmala Sitharaman departed from the traditional briefcase by introducing the ‘bahi khata,’ a traditional Indian ledger wrapped in a red cloth, to carry the budget documents. This move was seen as a nod to Indian heritage and a step towards decolonizing the budget presentation process.
The evolution continued in 2021 when the budget presentation transitioned to a paperless format. Finance Minister Sitharaman delivered the budget using a ‘Made in India’ tablet encased in a red ‘bahi khata’-style sleeve, aligning with the Digital India initiative and reflecting the government’s commitment to modernization and environmental sustainability.
Conclusion
These changes in the budget presentation underscore India’s journey from colonial traditions to embracing its cultural identity and technological advancements, mirroring the nation’s broader socio-economic evolution. GulistanNewsTv
