Ten things you didn't know about the budget

Did you know where the term "budget" originated? Or when budget papers were first presented in Hindi?

Anant Rangaswami|Dec 20, 2014, 09:05:45 IST

The 2012 Union Budget will be the 81st to be presented in Independent India. But did you know where the term "budget" originated? Or when budget papers were first presented in Hindi? Here are ten facts you probably didn't know about the origin of the budget and its history in India. Enjoy!

[caption id="attachment_246140" align="alignleft" width="380" caption="Pranab Mukherjee has presented 7 budgets to Parliament: Reuters"][/caption]1. The word "Budget" finds its origins in the French "bougette", a "leather bag" or "purse", which in turn is rooted in the Latin "bulga", a pouch.

2. In 1970, Mrs Gandhi forgot to end the budget speech with the words, "Now I move the Finance Bill''. The house adjourned. Technically, the bill was not passed.

3. Yashwant Sinha presented the first budget which was not presented at 5.00 PM. His presentation in 2000 was at 11.00 AM.

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4. Budget papers began to be prepared in Hindi from 1955-56.

5. The first words for the first ever budget were "when I presented my interim budget for free India's Parliament a few months back".

6. The original rollback king is Yashwant Sinha, who went back on at least five proposals he made in the 2002 budget speech.

7. The budget papers are printed at a press OWNED by the finance ministry.

8. Nehru, Indira Gandhi and Rajiv Gandhi all were forced to present the budget because their finance ministers resigned.

9. The maximum number of 10 budgets have been presented by Morarji Desai

10. Pranab Mukherjee, P Chidambaram, Yashwant Sinha, Y B Chavan and C D Deshmukh have presented seven budgets each, while Manmohan Singh and T T Krishnamachari, have presented six budgets each.

Bonus: Multiple budgets were presented in 1971 and 1974

By Anant Rangaswami

Anant Rangaswami was, until recently, the editor of Campaign India magazine, of which Anant was also the founding editor. Campaign India is now arguably India's most respected publication in the advertising and media space. Anant has over 20 years experience in media and advertising. He began in Madras, for STAR TV, moving on as Regional Manager, South for Sony’s SET and finally as Chief Manager at BCCL’s Times Television and Times FM. He then moved to advertising, rising to the post of Associate Vice President at TBWA India. Anant then made the leap into journalism, taking over as editor of what is now Campaign India's competitive publication, Impact. Anant teaches regularly and is a prolific blogger and author of Watching from the sidelines.