[ad_1] Budget time to Bahi Khata: How India rejected Budget colonialism over the years

Budget time to Bahi Khata: How India rejected Budget colonialism over the years

Jan 31, 2024

ET Online

Colonial India's first Budget

During the British era, in 1860, James Wilson, a Scottish economist employed by the East India Company, presented India's first interim budget.

Image Source: PTI

Shedding the hangover

Since then, a lot has changed as India got its independence and moved towards a brighter future.

Image Source: PTI

Changes in Budget

Here are the changes that India has made in relation to the methods and ways of presenting the Budget, which is of utmost importance to the nation's economy.

Image Source: PTI

Merging budgets

In a departure from British era practices, the Government merged the Rail Budget with the Union Budget from budget year 2017-18.

Image Source: PTI

Budget time

In 2001, Finance Minister Yashwant Sinha broke the colonial tradition by moving the announcement time from 5:00 pm to 11 am.

Image Source: PTI

Budget date

Up until 2016, the budget was announced on the final working day of February. After that, the government decided to shift the date to February 1.

Image Source: iStock

Bahi Khata

In 2019, Nirmala Sitharaman altered the budget's visual narrative by substituting a "bahi khata" for the customary leather briefcase, in yet another move to do away with colonialism.

Image Source: iStock

Paperless Budget

In 2021, the budget's transition to an electronic format represented a major technological advance and promoted Digital India.

Image Source: PTI

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