The present finance minister Nirmala Sitharaman presented the Interim Union Budget for 2024-25 on February 01, 2024. This post contains the most important points from this budget.
Facts about Union Budget
- The Union Budget of India is also referred to as the Annual Financial Statement in Article 112 of the Constitution of India.
- It is presented on the First Day of February every year for the coming financial year. This trend started in the year 2017. Before 2017, Union Budget was presented on the last day of February. Also before 2017, Union Budget and Rail budget were presented separately and got merged from 2017.
- On 1 February 2021, Finance Minister Nirmala Sitharaman presented the first paperless budget.The first union budget of independent India was presented by R. K. Shanmukham Chetty on 26 November 1947.
An interim budget is the budget presented by a government that is going through a period of transition by means of election. As the year 2024 will witness the election for central government, hence interim budget has been presented now. The full union budget will be presented after the elections.
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