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Budget 2025: Why is the budget released at 11 am on February 1? Know 10 such interesting facts..

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Union Budget 2025, General Knowledge: Finance Minister Nirmala Sitharaman will present the Union Budget 2025 in Parliament today. This is her 8th budget. This year Nirmala Sitharaman will also set many special records along with the Union Budget (Nirmala Sitharaman). After setting the record for the longest and shortest budget speech, today her name will also be included in the list of Finance Ministers who have presented the most budgets. The history of the Indian budget is years old.

The budget is presented on 01 February at 11 am (Union Budget Time 2025). As interesting as the history of the budget is, some of the traditions associated with it are equally interesting. Many rules have been made for releasing the Union Budget. Knowing about some of these will surprise you, while some will make you think (Union Budget Expectations). Before the release of the Union Budget 2025, know some special facts related to it. Budget Facts: 10 facts related to the Union Budget

1- Budget Halwa Ceremony: Why is halwa served before the budget?

Indians start any important and good work by eating something sweet. This ritual is also performed before presenting the Union Budget. Halwa ceremony is organized before presenting the budget. This halwa is prepared in the Ministry of Finance and is fed to all the officers and employees of the ministry. The tradition of Halwa Ceremony was started after the independence of the country and it is being performed till date. With the Halwa ritual, the 'lock-in period' also begins.

2- First Budget of India: When was the first budget of India presented?

The first budget of the country was presented not after independence but before that. The first budget of India was presented in the year 1860 by the then Finance Minister James Wilson. It was under the British government. Through this budget, an attempt was made to increase the state treasury of the British government. After the independence of the country, the first budget of India was presented in the year 1947 (First Budget of Independent India). It was an interim budget. It was presented by RK Shanmukham Shetty.

3- Who was responsible for the budget before the Finance Minister?

Now the Union Budget is presented by the Finance Minister of the country. But it was not so earlier. Till many years ago, the Prime Minister of India used to present the budget in the Parliament. However, whenever the Prime Minister presented the budget, there were many reasons behind it. Many times, the responsibility of presenting the budget is also handed over to the Prime Minister due to the resignation of the Finance Minister. Jawaharlal Nehru presented the Union Budget in the year 1958, Indira Gandhi in the year 1970, and Rajiv Gandhi in 1987-88.

4- Why is a red briefcase used in the budget?

The connection of the red briefcase or file in the budget is linked to the British era. If reports are to be believed, when the British government presented the budget for the first time in the year 1860, a red leather bag was used. There are important announcements in the budget. Therefore, the bag or file that keeps the documents related to it is also special. It is believed that this is why a red bag or file is used now. It looks attractive and different too.

5- Budget Weird Rules: Why are the officials preparing the budget locked?
The budget making team is kept locked in the basement of the Finance Ministry for a week before the budget is presented in Parliament. This protects the documents related to the budget from leaking. Earlier this period was of two weeks. Even the mobile phones of all the officials and employees preparing the budget are confiscated. During this 1 week lock in period, they are not allowed to meet anyone. They cannot even go to their homes.

6- Aam Budget Date: Why is the general budget presented only on 1 February?
The Government of India presents the Union Budget on 1 February. But this did not happen earlier. Before 2017, the budget was presented on 28 February i.e. the last day of February. However, in the year 2017, the then Finance Minister of the Modi government, Arun Jaitley, started the tradition of presenting the budget on 1 February instead of the end of February. This practice, which has been going on since the British era, was changed in the first term of the Modi government i.e. in 2017.

7- Union Budget Date: Why was the date of the budget changed?

Finance Minister Arun Jaitley has given two reasons behind changing the date of the budget. First, there is less time gap between presenting the budget and its implementation. The budget will be implemented in May. Presenting the budget on 1 February instead of 28 February increases the gap. Second, the railway budget has also been merged with the general budget. Earlier the railway budget was presented separately from the general budget. Due to the merger, the general budget gets enough time to implement new rules and make new changes before it is implemented.

8- Union Budget Timing: Why is the budget presented at 11 am?

Keeping in mind the convenience of the British, the general budget was presented at 5 pm. When it was 5 pm in India, it was around 12.30 pm in Britain. In 1999, Atal Bihar Vajpayee's government changed the budget timing. The then Finance Minister Yashwant Sinha presented the budget for the first time at 11 am instead of 5 pm. Then he said - that India is now independent, not under Britain. Therefore, it can decide the time according to its own convenience.

9- Budget in Red Bag: Why were the budget documents kept in a leather bag?

Budget is derived from the French word 'Bougette'. It means a leather bag. Earlier, such bags were used to keep money. Budget documents were kept in this leather bag. Therefore, the Finance Bill was also named Budget. The first budget after independence was presented on 26 November 1947. The then Finance Minister RK Shanmukham Chetty also came to Parliament with the budget in a leather bag like the British. The tradition of leather bags or briefcase continued till the year 2018.

10- Paperless Budget: What is paperless budget?

On 5 July 2019, Nirmala Sitharaman changed the tradition of leather bags. That year she came to Parliament with the budget documents in a red cloth instead of a leather bag. India's national emblem 'Ashoka Pillar' was inscribed on this red cover. The argument for keeping the budget in a red cloth cover was that it is not a budget, but a ledger according to Hindu tradition. Then on 1 February 2021, Nirmala Sitharaman presented the budget with a 'tablet' wrapped in red cloth. This was the first 'paperless budget'.

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