By The Sampadak Express
On Saturday, February 1, 2025, Finance Minister Nirmala Sitharaman made history by presenting a record eighth consecutive Union Budget, marking a significant milestone in her tenure as India’s first full-time female finance minister. This year’s budget comes amid a slowing economy and rising demands for tax cuts, particularly for the middle class.
Sitharaman’s achievement brings her closer to the record of presenting 10 budgets, a feat held by former Prime Minister Morarji Desai. Desai, who served as India’s finance minister between 1959 and 1969, presented a total of 10 budgets, six during his tenure from 1959 to 1964 and four more between 1967 and 1969.
While Desai holds the record for the highest number of total budgets presented, Sitharaman has made her own mark by becoming the only finance minister to present eight consecutive budgets, all under Prime Minister Narendra Modi’s leadership. She was appointed as finance minister after Modi’s decisive second term win in 2019, and retained her portfolio when the Prime Minister returned to power for a third term in 2024.
A Historical Look at Budget Presentations in India
First Budget of Independent India
India’s first-ever Union Budget was presented on November 26, 1947, by R K Shanmukham Chetty, India’s first finance minister, marking the beginning of India’s economic journey as an independent nation.
Maximum Number of Budgets: Morarji Desai
The record for the maximum number of Union Budgets presented is held by former Prime Minister Morarji Desai. He presented a total of 10 budgets during his tenure as finance minister, under both Prime Minister Jawaharlal Nehru and Prime Minister Lal Bahadur Shastri. His first budget was presented on February 28, 1959, followed by multiple full budgets and interim budgets until 1969, making him the most prolific presenter of budgets in Indian history.
Second Highest Number of Budgets: P. Chidambaram
Former Finance Minister P. Chidambaram is second in line with nine budget presentations. He presented his first budget on March 19, 1996, during the United Front government led by Prime Minister H D Deve Gowda. Chidambaram returned to the finance ministry under the Congress-led UPA government, where he presented several budgets between 2004 and 2008. He later presented budgets again in 2013 and 2014.
Third Highest Number of Budgets: Pranab Mukherjee
Pranab Mukherjee, who went on to become India’s President, presented eight budgets during his tenure as finance minister. His budget presentations spanned from 1982 to 1984 and later from 2009 to 2012 during the Congress-led UPA government.
Manmohan Singh’s Legacy
Former Prime Minister Manmohan Singh, renowned for his role in economic reforms, presented five consecutive budgets between 1991 and 1995 as the finance minister under Prime Minister P V Narasimha Rao. His budgets played a crucial role in shaping India’s economic liberalization.
Notable Budget Presentation Facts
1. Longest Budget Speech:
Nirmala Sitharaman holds the record for delivering the longest-ever Budget speech in Indian history. On February 1, 2020, her Budget speech lasted a staggering two hours and 40 minutes, with two pages still remaining when she had to cut it short. This reflects her detailed approach to presenting fiscal plans and policies.
2. Shortest Budget Speech:
On the other end of the spectrum, the shortest-ever Budget speech in India was delivered by Hirubhai Mulljibhai Patel in 1977, which was just 800 words long. This interim Budget was notably brief compared to the comprehensive speeches delivered by other finance ministers.
3. Changing Budget Timing:
The timing of the Budget presentation has evolved over time. Historically, the Budget was presented on the last day of February at 5 p.m. This timing followed a colonial-era tradition to synchronize announcements between London and India. India, being 4 hours and 30 minutes ahead of British Summer Time, aligned the presentation time to ensure it happened during daylight hours in both countries.
However, in 1999, under Finance Minister Yashwant Sinha during the Atal Bihari Vajpayee government, the timing was changed to 11 a.m. Since then, all Budgets have been presented at 11 a.m.
4. Change of Budget Presentation Date:
In 2017, the government also moved the date of Budget presentation to February 1. This change aimed to allow the parliamentary approval process to be completed by March-end, ensuring the Budget could be implemented from the start of the new fiscal year on April 1. Previously, when the Budget was presented on February 28, there were delays in implementation due to the parliamentary approval process.
Nirmala Sitharaman’s Continued Legacy
With her eighth consecutive Budget presentation, Nirmala Sitharaman continues to make a significant impact on India’s economic landscape. While she remains far from the record for the total number of budgets presented, her achievement of presenting eight consecutive budgets under the leadership of Prime Minister Modi has set a new milestone in Indian fiscal history.
As India faces new challenges, including an economic slowdown and calls for tax reforms, Sitharaman’s approach will continue to be under scrutiny. Her tenure has been marked by a willingness to adapt to modern fiscal tools, and her decisions in Budget 2025 will be watched closely by economists, businesses, and the public alike. The evolution of the Budget process, from colonial practices to modern, tech-savvy presentations, reflects India’s growing commitment to reform and innovation in economic governance.
For the latest updates on Budget session 2025, stay tuned with The Sampadak Express
