Finance Minister Nirmala Sitharaman is set to present her eighth consecutive Union Budget on February 1, 2025. This will take her closer to the record of 10 budgets presented by former Prime Minister Morarji Desai, who held the record for the most budgets presented across different terms. Sitharaman’s record-breaking streak is notable as she is the first woman to hold the position of full-time finance minister.
Here are some key facts about India’s Union Budget presentations
Morarji Desai’s record of 10 Budgets
Morarji Desai holds the record for the most Union Budgets, presenting 10 during his tenure as finance minister between 1959 and 1969. His first budget was presented on February 28, 1959, and included a mix of full and interim budgets over the years.
Second Most Budgets – P. Chidambaram
Former Finance Minister P. Chidambaram presented a total of nine budgets during his time in office. His first budget was delivered in 1996 under the United Front government, and he later presented five budgets under the Congress-led UPA government between 2004 and 2008.
Third Most Budgets – Pranab Mukherjee
Pranab Mukherjee, who served as finance minister, presented eight budgets in total. His tenure as finance minister spanned from the early 1980s to 2012, during which he shaped several crucial economic policies.
Longest Budget Speech
Nirmala Sitharaman set a record for the longest budget speech on February 1, 2020, which lasted 2 hours and 40 minutes. She had to cut her speech short, leaving two pages unfinished due to time constraints.
Shortest Budget Speech
The shortest budget speech in Indian history was delivered by Hirubhai Mulljibhai Patel during his interim budget presentation in 1977. His speech was only 800 words long.
Traditional Timing of the Budget
Traditionally, Union Budgets were presented on the last day of February at 5 p.m., following a colonial-era practice. This timing allowed the announcements to coincide with the British Summer Time in London. In 1999, Finance Minister Yashwant Sinha changed the presentation time to 11 a.m.
Shift in Budget Date
In 2017, the Budget presentation was moved to February 1 to allow for the completion of the parliamentary approval process by March 31 and enable the implementation of the Budget from April 1. Prior to this, the Budget was typically presented on February 29, which delayed the start of fiscal year implementation.