Budget Time Shifted From 11am To 5pm Until 1999

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Finance Minister Nirmala Sitharaman will present her sixth straight Budget on February 1. It will be an interim budget, since India is poised to hold Lok Sabha elections later this year. 

A full budget will be presented after the new cabinet is established. Every year, on February 1, at 11 a.m., the budget is presented. However, this was not the case previously, since it was announced at 5 p.m. on the last business day of February.

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Why will the budget be presented at 11 am?

Budget Time Shifted From 11am To 5pm Until 1999
The Budget has been delivered at 5 p.m. on the final business day of February since the colonial era | Image: Generated on DALL.E

The Budget has been delivered at 5 p.m. on the final business day of February since the colonial era. This hour was picked due to the time difference between India and the United Kingdom. 

India’s time is 5.5 hours ahead of British summertime. Budget announcements at 5 p.m. (IST) ensured that they were made throughout the day in the UK.

Who changed the practice?

Yashwant Sinha changed the practice in 1999
Yashwant Sinha changed the practice in 1999 | Image: X

Yashwant Sinha changed the practice in 1999, during the Atal Bihari Vajpayee administration. Yashwant Sinha advised that the Budget be delivered at 11 a.m. to give time for number analysis and a better informed debate in Parliament. 

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Yashwant Sinha presented India’s first budget at 11 a.m. on February 27, 1999. Since then, it has been given at 11 a.m. 

How is the budget being presented on 1st Feb this year?

From 1999 until 2017, the Union Budget was delivered on the final working day of February, however this changed in 2017. Arun Jaitley declared that starting in 2017, the budget would be delivered on February 1 rather than the last business day. 

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Source: englishtalent.edu.vn

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