It was decided to present the budget on 1st February from the year 2017, know the history

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Budget 2024: Counting days are now left for the month of January to end. Then in February, Finance Minister Nirmala Sitharaman will present the 2024 budget in Parliament. Also, since the year 2024 is an election year, this year's budget will be an interim budget. Also, people have many questions about the budget, the most common question is why the budget is presented on February 1? So let's find out the answer...

Earlier it was not presented on 1 February

Earlier the budget was not presented on the first day of February but on the last day of February. But the current government has changed this age-old tradition associated with the budget and changed the budget date to 1st February.

This tradition was changed in the year 2017

Every year at the beginning of the new financial year, the central government presents the expenditure and revenue details for the next financial year before the budget is passed by both houses of Parliament. The budget was introduced in the country from the year 1860, i.e. from the British rule. Also, before the year 2017, the budget was presented at the end of February. But the then finance minister Arun Jaitley decided to change this 92-year-old tradition of budget and present it on February 1. Since then it is presented on 1st February every year.

Why was this change made?

Changing this 92-year-old budget tradition, the then finance minister Arun Jaitley revealed that presenting the budget at the end of February did not give the government time to make the budget effective. So that the government gets more time, the budget date was changed from 28th February to 1st February.

At present the railway budget is not presented separately

The government has changed many traditions of the budget, including the railway budget. A separate railway budget was presented in the first three years of the current government's tenure, but since 2017, it has stopped the tradition and is presented along with the general budget.

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