Do you know –
Where is word Budget derived from : The word Budget comes from semantic extension of bouge which earlier meant as leather bag. The word Bouge come from French middle word Middle French bougette.
Some interesting facts about Indian Budget:
- The Budget process has its roots in the Bombay Plan of 1944. Bombay Plan was authored by John Mathai, GD Birla & JRD Tata.
- On November 26, 1947 R.K. Shanmukham Chetty had presented the first budget of Independent India. But actually it was a review of the economy and no new taxes were proposed as the budget day for 1948-49 was just 95 days away.
- Morarji Desai has presented the maximum number of budgets for India so far- 10. They included five annual and one interim budgets during his first stint and three final and one interim in the second tenure when he was both Finance Minister and Deputy Prime Minister.
- Morarji Desai was the only Finance Minister to have had the opportunity to present two budgets on his birthday – in 1964 and 1968. He was born on February 29. Desai resigned in July 1969 in protest against the nationalization of major banks by an ordinance on a Saturday evening.
- Morarji Desai was the only Finance Minister to have had the opportunity to present two budgets on his birthday – in 1964 and 1968. He was born on February 29.