Union budget 2023 who prepares india budget know 10 interesting facts. Who prepares the general budget of the country? Know immediately 10 big interesting stories related to this

The country’s general budget for the upcoming financial year is going to be presented on February 1, 2023. Finance Minister Nirmala Sitharaman will present the general budget in the Lok Sabha at 11 am along with an account of the country’s economic progress. The budget is very important for the future of 140 crore people of India. In such a situation, it is important to know who prepares the general budget of the country. Behind this, how many departments of the government unite day and night and how the country’s budget is kept secret. Come, with the help of India TV, know some important things that you need to know from your own general budget.

Who prepares the budget? ,who prepares india budget)

main task of budgeting Finance Ministry Of It is prepared by the ‘Budget Division’ of the Department of Economic Affairs in the Ministry of Finance. The Budget Division issues circulars to all ministries, states, union territories, autonomous bodies, departments and defense forces asking them to submit their estimates for the next year. After the demands are received from the Ministries and Departments, intensive discussions take place between the Department of Expenditure, Ministry of Finance. In addition, the Department of Economic Affairs and the Department of Revenue hold meetings with stakeholders such as economists, businessmen, farmers and civil society. During this their views are taken. The final decision on tax proposals is taken with the Finance Minister after the pre-Budget round of meetings is over. The proposals are discussed with the Prime Minister before the budget is finalised.

This is how the final form is given

All the documents of the budget are prepared by selected officers only. All the computers used in this process are delinked from the other network. The staff of about 100 people working on the budget stays in the North Block office for about 2 to 3 weeks, they are not allowed to come out. In the printing press located in the basement of North Block, the officers and employees related to the budget are almost closed. They are not allowed to talk or meet even their family members during the budget making process.

Which agencies help?

The Finance Ministry plays an important role in budget preparation. Apart from this, NITI Aayog, Comptroller and Auditor General, Administrative Ministry cooperate. The draft budget is prepared in the month of January. From the preparation of the budget till its presentation, all the information related to it is not made public until it is presented in the Parliament.

Budget is linked to Article 112

The process of making the country’s budget is very important. It is prepared for a long time. Thousands of people work day and night one by one to settle the entire account. Let us tell you that according to Article 112 of the Indian Constitution, the Union Budget is an account of the estimated income and expenditure of the government in a given year.

Everyone’s opinion is taken

For the past several years, the Ministry of Finance has been inviting suggestions from citizens to increase participation in the budget making process. This year also the Finance Ministry has asked people to give ideas and suggestions for the budget. The Finance Ministry also seeks suggestions from organizations and parties associated with the industry.

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10 interesting stories related to the budget

1. The first budget of independent India was presented by the then Finance Minister RK Shanmukham Shetty on 26 November 1947.
2. John Mathai was the second Finance Minister of the country, who presented the budget of 1949-50. It was a historic budget and focused on inflation. Through this budget, the country chose words like Planning Commission and Five Year Plans.
3. After the year 1955 i.e. from the budget of 1955-56, the documents related to the budget started being prepared in Hindi as well.
4. In the Union Budget of 1955-56, a plan to unearth black money was launched.
5. The provision of service tax was made in the Union Budget of the year 1994. This budget was presented by former Prime Minister Manmohan Singh.
6. The budget of the year 1973-74 is known as the Black Budget of India. This year the country’s budget deficit was Rs 550 crore.
7. In the year 1982, the budget was presented by Finance Minister Pranab Mukherjee. He gave the budget speech for 1 hour 35 minutes. After this budget, long budget speech became a trend. Commenting on this, Indira Gandhi had said that the finance minister of the shortest stature gave the longest speech.
8. Rajiv Gandhi introduced India’s corporate tax for the first time in the budget of 1987.
9. Such an occasion also came in the history of the budget when the interim and financial budget for the year 1991-92 were presented by different ministers from different parties. Yashwant Sinha presented the interim budget, while Manmohan Singh presented the final budget.
10. Manmohan Singh put the term of service tax in front of India in his budget of the year 1994.

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