Misplaced Pages

Union budget of India

Article snapshot taken from Wikipedia with creative commons attribution-sharealike license. Give it a read and then ask your questions in the chat. We can research this topic together.
#605394

76-695: The Union Budget of India , also referred to as the Annual Financial Statement in Article 112 of the Constitution of India . It is the annual budget of the Republic of India set by Ministry of Finance for the following financial year, with the revenues to be gathered by Department of Revenue to identify planned government spending and expected government revenue and the expenditures gathered by Department of Expenditure of

152-562: A Bachelor of Arts degree in Economics from Seethalakshmi Ramaswami College , Tiruchirapalli in 1980, Master of Arts degree in Economics and M.Phil. from Jawaharlal Nehru University, Delhi in 1984. She then enrolled for a Ph.D. program in Economics with a focus on Indo-Europe trade; but later left this program and moved to London (when her husband secured a scholarship in London School of Economics ) because of which she

228-514: A dominion of the British Crown and became a sovereign, democratic republic with the constitution. Articles 5, 6, 7, 8, 9, 60, 324, 366, 367, 379, 380, 388, 391, 392, 393, and 394 of the constitution came into force on 26 November 1949, and the remaining articles became effective on 26 January 1950 which is celebrated every year in India as Republic Day . The constitution was drawn from

304-465: A governor or (in union territories) a lieutenant governor and a chief minister . Article 356 permits the president to dismiss a state government and assume direct authority if a situation arises in which state government cannot be conducted in accordance with constitution. This power, known as president's rule , was abused as state governments came to be dismissed on flimsy grounds for political reasons. After S. R. Bommai v. Union of India , such

380-600: A 'Vote on Account'. While a 'Vote on Account' deals only with the expenditure side of the government's budget. An interim budget is a complete set of accounts, including both expenditure and receipts. An interim budget gives the complete financial statement, very similar to a full budget. While the law does not disqualify the Union government from introducing tax changes, normally during an election year, successive governments have avoided making any major changes in income tax laws during an interim budget. An interim budget differs from

456-428: A course of action is more difficult since the courts have asserted their right of review. The 73rd and 74th Amendment Acts introduced the system of panchayati raj in rural areas and Nagar Palikas in urban areas. Article 370 gave special status to the state of Jammu and Kashmir . Article 368 dictates the procedure for constitutional amendments . Amendments are additions, variations or repeal of any part of

532-716: A member of National Commission for Women . In 2017, she was one of the founding directors of Pranava in Hyderabad . The Jawaharlal Nehru University conferred her the Distinguished Alumni Award in 2019. Forbes Magazine has ranked her 34th among the 100 most powerful women in the world in 2019. Nirmala Sitharaman, Union Finance Minister wins the Business Reformer of the year award at The Economic Times Awards for Corporate Excellence 2021. In 2023, ranked at number 32, Sitharaman has made it to

608-692: A number of sources. Mindful of India's needs and conditions, its framers borrowed features of previous legislation such as the Government of India Act 1858 , the Indian Councils Acts of 1861 , 1892 and 1909 , the Government of India Acts 1919 and 1935 , and the Indian Independence Act 1947 . The latter, which led to the creation of Pakistan , divided the former Constituent Assembly in two. The Amendment act of 1935

684-416: A part of tradition, Finance ministers carried the budget in a leather briefcase. The tradition was established by the first Finance minister of India, R. K. Shanmukham Chetty . On 5 July 2019, Nirmala Sitharaman, broke the above tradition by carrying the budget in a Bahi-Khata . On 1 February 2021, Finance Minister Nirmala Sitharaman presented the first paperless budget. She took a digital tablet wrapped in

760-477: A preamble and 470 articles, which are grouped into 25 parts. With 12 schedules and five appendices, it has been amended 105 times ; the latest amendment became effective on 15 August 2021. The constitution's articles are grouped into the following parts: Schedules are lists in the constitution which categorise and tabulate bureaucratic activity and government policy. The executive, legislative, and judicial branches of government receive their power from

836-401: A printing press that was traditionally used to print budget documents for 40 years from 1980 to 2020. Thereafter, the budget went digital with bare minimum documents printed and the bulk distribution happening via mobile app or on the website. Going digital also meant that the lock-in period has gotten shorter to just five days from the previous one that lasted up to two weeks. Until 2018, as

SECTION 10

#1732772473606

912-425: A report by a panel assessing the changes, benefits and flaws in the budget. Additional budget documents and materials are available on the government budget website and Union Budget Mobile app. Rail Budget , presented separately for 92 Years has been merged with union budget. Since 1947, there have been a total of 73 annual budgets, 14 interim budgets and four special budgets, or mini-budgets. Yashwant Sinha ,

988-484: A single constitution, single citizenship , an integrated judiciary, a flexible constitution, a strong central government , appointment of state governors by the central government, All India Services (the IAS , IFS and IPS ), and emergency provisions . This unique combination makes it quasi-federal in form. Each state and union territory has its own government. Analogous to the president and prime minister, each has

1064-790: A tradition 'bahi-khata' style pouch. It is considered a move to strengthen Prime Minister Narendra Modi 's ambitious Digital India mission. As per established tradition, the Finance Minister meet the President at the Rashtrapati Bhavan to get assent from President before heading to the Parliament to present the Union Budget. A meeting of the Union Cabinet is held at 10a.m. on February 1 . After getting

1140-409: A union budget in that it serves as a temporary financial plan for the government when elections are approaching. This budget seeks parliamentary approval for the government to cover expenses for the remaining months in its term. Unlike a Union budget, which outlines the entire year, an interim budget focuses on the transition period until the new government takes charge. While estimates are provided for

1216-465: Is a basic characteristic of the constitution, overturning Articles 368(4), 368(5) and 31C. Nirmala Sitharaman Nirmala Sitharaman (born 18 August 1959) is an Indian economist, politician and a senior leader of the  Bharatiya Janata Party  (BJP) serving as the Minister of Finance and Minister of Corporate Affairs of the Government of India since 2019. She is a member of

1292-498: Is also a very important step for making the constitution for two new born countries. Each new assembly had sovereign power to draft and enact a new constitution for the separate states. The constitution was drafted by the Constituent Assembly , which was elected by elected members of the provincial assemblies . The 389-member assembly (reduced to 299 after the partition of India ) took almost three years to draft

1368-737: Is given to me does not really belong to me. It belongs partly to Sir B.N. Rau the Constitutional Advisor to the Constituent Assembly who prepared a rough draft of the Constitution for the consideration of Drafting Committee. A part of the credit must go to the members of the Drafting Committee who, as I have said, have sat for 141 days and without whose ingenuity to devise new formulae and capacity to tolerate and to accommodate different points of view,

1444-597: Is hand-written, with each page decorated by artists from Shantiniketan including Beohar Rammanohar Sinha and Nandalal Bose . Its calligrapher was Prem Behari Narain Raizada . The constitution was published in Dehradun and photolithographed by the Survey of India . Production of the original constitution took nearly five years. Two days later, on 26 January 1950, it became the law of India . The estimated cost of

1520-532: Is no provision for a joint session of the Lok Sabha and Rajya Sabha to pass a constitutional amendment. During a parliamentary recess, the president cannot promulgate ordinances under his legislative powers under Article 123, Chapter III . Despite the supermajority requirement for amendments to pass, the Indian constitution is the world's most frequently-amended national governing document. The constitution

1596-827: Is preserved in a helium -filled case at the Parliament Library Building in New Delhi . In 1928, the All Parties Conference convened a committee in Lucknow to prepare the Constitution of India, which was known as the Nehru Report . With the exception of scattered French and Portuguese exclaves, India was under the British rule from 1858 to 1947. From 1947 to 1950, the same legislation continued to be implemented as India

SECTION 20

#1732772473606

1672-632: Is so specific in spelling out government powers that many amendments address issues dealt with by statute in other democracies. In 2000, the Justice Manepalli Narayana Rao Venkatachaliah Commission was formed to examine a constitutional update. The commission submitted its report on 31 March 2002. However, the recommendations of this report have not been accepted by the consecutive governments. The government of India establishes term-based law commissions to recommend legal reforms, facilitating

1748-426: Is the supreme legal document of India . The document lays down the framework that demarcates fundamental political code, structure, procedures, powers, and duties of government institutions and sets out fundamental rights , directive principles , and the duties of citizens. It is the longest written national constitution in the world. It imparts constitutional supremacy (not parliamentary supremacy , since it

1824-529: The Dominion of India became the Republic of India . To ensure constitutional autochthony , its framers repealed prior acts of the British parliament in Article 395. India celebrates its constitution on 26 January as Republic Day . The constitution declares India a sovereign , socialist , secular , and democratic republic , assures its citizens justice , equality , and liberty , and endeavours to promote fraternity . The original 1950 constitution

1900-564: The Fifth largest Economy in the world, and the GDP of the country was said to have seen massive growth positively with historical context. In February 2024, she presented the Union budget for the record 6th time and matched it with Morarji Desai . She also became the first minister to present the budget in the New Parliament building of India. She was given the same cabinet posts after

1976-767: The Indian general election in June 2024. Nirmala Sitharaman worked as a salesperson at Habitat, a home decor store in London's Regent Street . She has served as an assistant to Economist in the Agricultural Engineers Association in the UK. During her stay in the UK, she has also served as a Senior Manager ( R&D ) for PWC and briefly at the BBC World Service . She has also served as

2052-587: The Modi ministry between 2014 and 2017, holding successive positions, first for her dual appointment as the Minister of State in the Ministry of Finance and the Minister of State in the Ministry of Corporate Affairs from May to November 2014, and then as the Minister of State (Independent Charge) for the Ministry of Commerce and Industry from May 2014 to September 2017, before being elevated to senior posts within

2128-591: The Rajya Sabha , the upper house of the Indian Parliament , representing Karnataka since 2016 and previously represented Andhra Pradesh from 2014 to 2016. Sitharaman previously served as the 28th Defence Minister from 2017 to 2019, thereby becoming India's second female defence minister and the second female finance minister after Indira Gandhi , and the first full-time female minister to hold each of those portfolios. She served as junior minister in

2204-989: The Union Cabinet . Sitharaman featured in the Forbes 2022 list of World's 100 most powerful women and was ranked 36. In 2023, she was ranked 32nd in the Forbes 2023 list of World's 100 most powerful women. Fortune named her the most powerful woman in India. Nirmala Sitharaman was born in a Tamil Iyengar family in Madurai, Tamil Nadu , to Savitri and Narayanan Sitharaman. She had her schooling from Sacred Heart Convent Anglo-Indian School, Villupuram till primary level, and thereafter at Vidyodaya School in Chennai . She then studied at St. Philomena’s School, and at Holy Cross School in Tiruchirappalli . She obtained

2280-573: The finance and corporate affairs minister . She is India's first full-time female finance minister. She presented her maiden budget in the Indian parliament on 5 July 2019. Sitharaman presented the Union Budget 2020–21 on 1 February 2020. During the COVID-19 pandemic in India she was made in-charge of the COVID-19 Economic Response Task Force . Under her tenure as the finance minister in 2022, India became

2356-410: The fiscal years 1959–61 to 1963–64, inclusive of the interim budget for 1962–63, were presented by Morarji Desai . On 29 February in 1964 and 1968, he became the only finance minister to present the Union budget on his birthday. Desai presented budgets that included five annual budgets and an interim budget during his first term and three final budgets and one interim budget in his second tenure when he

Union budget of India - Misplaced Pages Continue

2432-644: The public sector , to forecast economic conditions in compliance with government policy. The Government presents it on the first day of February so that it can be materialised before the beginning of new financial year in April. Until 2016 it was presented on the last working day of February by the Finance Minister in Parliament . The budget division of the Department of economic affairs (DEA) in

2508-613: The Budget papers were prepared in Hindi as well for the first time. Morarji Desai presented eight annual and two interim budgets. The following table shows the Total Receipts, Fiscal Deficits, Total Defense Spending and Major Subsidies as listed in past Union Budgets, as per the "At a Glance" subsection of each budget. The following figures are not adjusted for inflation. Constitution of India The Constitution of India

2584-416: The Constituent Assembly was ₹ 6.3 crore . The constitution has had more than 100 amendments since it was enacted. The Indian constitution is the world's longest for a sovereign nation. At its enactment, it had 395 articles in 22 parts and 8 schedules. At about 145,000 words, it is the second-longest active constitution—after the Constitution of Alabama —in the world. The amended constitution has

2660-423: The Constitution. I must not omit to mention the members of the staff working under Mr. Mukherjee. For, I known how hard they worked and how long they have toiled sometimes even beyond midnight. I want to thank them all for their effort and their co-operation. While deliberating the revised draft constitution, the assembly moved, discussed and disposed off 2,473 amendments out of a total of 7,635. G. V. Mavlankar

2736-466: The Finance portfolio, presented the annual budgets for the financial years 1982–83, 1983–84 and 1984–85. Rajiv Gandhi presented the budget for 1987–89, after V. P. Singh quit his government, and in the process became the third Prime Minister to present a budget after his mother and grandfather. N. D. Tiwari presented the budget for 1988–89, S. B. Chavan for 1989–90, while Madhu Dandawate presented

2812-460: The NDA government (led by Bharatiya Janata Party ) of Narendra Modi announced that it will now be presented on 1 February. The printing of budget documents starts roughly one week ahead of presenting in the Parliament with a customary ' Halwa ceremony ' in which Halwa (a sweet dish) is prepared in large quantities and served to the officers and support staff involved. They remain isolated and stay in

2888-541: The North Block office until the Budget is presented. The halwa is served by the Finance Minister. This ceremony is performed as a part of the Indian tradition of having something sweet before starting an important work. ‘Lock-in’ is a period of a number of days which exists to maintain the secrecy of the Budget. The Halwa ceremony begins the “lock-in” period of finance ministry staff in the Budget Press located in

2964-467: The Reserve Bank of India's central board of Directors and highlighted key points of the Union Budget, including the fiscal consolidation roadmap and high capital expenditure plan. The finance minister also discuss the announcements made during the budget speech. It is customary for the finance minister to address the Reserve Bank of India board after the budget. An interim budget is not the same as

3040-596: The Union budget for 1990–91. Dr. Manmohan Singh became the Finance Minister and presented the interim budget for 1991-92 as elections were forced. Due to political developments, early elections were held in May 1991 following which the Indian National Congress returned to political power and Manmohan Singh , the Finance Minister, presented the budget for 1991–92. Manmohan Singh under P. V. Narasimha Rao , in his next annual budgets from 1992 to 1993, opened

3116-671: The assembly, which had over 30 representatives of the scheduled classes . Frank Anthony represented the Anglo-Indian community , and the Parsis were represented by H. P. Modi. Harendra Coomar Mookerjee , a Christian assembly vice-president, chaired the minorities committee and represented non-Anglo-Indian Christians. Ari Bahadur Gurung represented the Gorkha community. Judges, such as Alladi Krishnaswamy Iyer , Benegal Narsing Rau , K. M. Munshi and Ganesh Mavlankar were members of

Union budget of India - Misplaced Pages Continue

3192-427: The assembly, committees were proposed. Rau's draft was considered, debated and amended by the seven-member drafting committee, which was appointed on 29 August 1947 with B. R. Ambedkar as chair. A revised draft constitution was prepared by the committee and submitted to the assembly on 4 November 1947. Before adopting the constitution, the assembly held eleven sessions in 165 days. On 26 November 1949, it adopted

3268-495: The assembly. Female members included Sarojini Naidu , Hansa Mehta , Durgabai Deshmukh , Amrit Kaur and Vijaya Lakshmi Pandit . The first, two-day president of the assembly was Sachchidananda Sinha ; Rajendra Prasad was later elected president. It met for the first time on 9 December 1946. Sir B. N. Rau , a civil servant who became the first Indian judge in the International Court of Justice and

3344-456: The basic structure doctrine. The extent of land ownership and practice of a profession, in this case, were considered fundamental rights. The ruling was overturned with the ratification of the 24th Amendment in 1971. The judiciary is the final arbiter of the constitution. Its duty (mandated by the constitution) is to act as a watchdog, preventing any legislative or executive act from overstepping constitutional bounds. The judiciary protects

3420-531: The constitution and are bound by it. With the aid of its constitution, India is governed by a parliamentary system of government with the executive directly accountable to the legislature . The constitution is considered federal in nature, and unitary in spirit. It has features of a federation, including a codified , supreme constitution; a three-tier governmental structure (central, state and local); division of powers ; bicameralism ; and an independent judiciary . It also possesses unitary features such as

3496-406: The constitution by Parliament. An amendment bill must be passed by each house of Parliament by a two-thirds majority of its total membership when at least two-thirds are present and vote. Certain amendments pertaining to the constitution's federal nature must also be ratified by a majority of state legislatures. Unlike ordinary bills in accordance with Article 245 (except for money bills ), there

3572-502: The constitution holding eleven sessions over a 165-day period. In the constitution assembly, a member of the drafting committee, T. T. Krishnamachari said: Mr. President, Sir, I am one of those in the House who have listened to Dr. Ambedkar very carefully. I am aware of the amount of work and enthusiasm that he has brought to bear on the work of drafting this Constitution. At the same time, I do realise that that amount of attention that

3648-496: The constitution to the limit of its basic structure. The Supreme Court or a high court may declare the amendment null and void if this is violated, after a judicial review . This is typical of parliamentary governments, where the judiciary checks parliamentary power. In its 1967 Golak Nath v. State of Punjab decision, the Supreme Court ruled that the state of Punjab could not restrict any fundamental rights protected by

3724-528: The constitution, which was signed by 284 members. The day is celebrated as National Law Day, or Constitution Day . The day was chosen to spread the importance of the constitution and to spread thoughts and ideas of Ambedkar. The assembly's final session convened on 24 January 1950. Each member signed two copies of the constitution, one in Hindi and the other in English. The original constitution

3800-441: The constitution. According to the doctrine, the constitution's basic features (when "read as a whole") cannot be abridged or abolished. These "basic features" have not been fully defined, and whether a particular provision of the constitution is a "basic feature" is decided by the courts. The Kesavananda Bharati v. State of Kerala decision laid down the constitution's basic structure: This implies that Parliament can only amend

3876-417: The economy , encouraged foreign investments and reduced peak import duty from 300 plus percent to 50 percent. After elections in 1996, a non-Congress ministry assumed office. Hence the financial budget for 1996-97 was presented by P. Chidambaram , who then belonged to Tamil Maanila Congress . Following a constitutional crisis when the I. K. Gujral Ministry was on its way out, a special session of Parliament

SECTION 50

#1732772473606

3952-555: The elections. Moreover, regulations from the Election Commission prevent any significant policy changes that could unfairly influence voters during this critical period. The first union budget of independent India was presented by R. K. Shanmukham Chetty on 26 November 1947. Total revenues stood at ₹171.15 crore , and the fiscal deficit was ₹24.59 crore. The total expenditure was estimated at ₹197.29 crore with Defence expenditure at ₹92.74 crore. The union budgets for

4028-418: The entire year, the incoming government can modify them when formulating a new budget. The interim budget also holds the power to make changes in the tax regime, but historically, major tax adjustments or new schemes are avoided due to the limited time in office. It essentially mirrors the first part of a union budget, detailing the previous year's income and expenses, with only essential expenses documented until

4104-596: The finance ministry is the nodal body responsible for producing the budget. It is presented by means of the Finance bill and the Appropriation bill has to be passed by Lok Sabha before it can come into effect on 1 April, the start of India's financial year . In modern times, the budget has been broadcast live from Sansad Bhawan on the DD National , DD News and Sansad TV . It is hosted without interruption from 11:00 am to 1:00 pm, normally followed up with

4180-444: The fundamental rights of the people (enshrined in the constitution) from infringement by any state body, and balances the conflicting exercise of power between the central government and a state (or states). The courts are expected to remain unaffected by pressure exerted by other branches of the state, citizens or interest groups. An independent judiciary has been held as a basic feature of the constitution, which cannot be changed by

4256-519: The legislature or the executive. Article 50 of the Constitution provides that the state must take measures to separate the judiciary from the executive in the public services. Judicial review was adopted by the constitution of India from judicial review in the United States . In the Indian constitution, judicial review is dealt with in Article 13 . The constitution is the supreme power of

4332-509: The list of Forbes Magazine's 100 most powerful women in the world for the fifth time in a row. In 2022, the minister was ranked at number 36 in the list, while she was in the 37th spot in 2021 and 41st in 2020 respectively. Sitharaman met her husband, economist and commentator Parakala Prabhakar , who is from Narsapuram , Andhra Pradesh , while studying at the Jawaharlal Nehru University . While Nirmala leaned towards

4408-414: The ministry's headquarters in the North Block. They can emerge only once the Finance Minister completes their Budget speech on 1 February. Previously, this “lock-in” period – when officials cannot be in contact with the outside world – would be longer. Since 2021, however, the Budget has been presented in a purely digital format, and the lock-in period has gotten shorter. The basement of North Block houses

4484-688: The nation, and governs all laws. According to Article 13 : Due to the adoption of the Thirty-eighth Amendment , the Supreme Court was not allowed to preside over any laws adopted during a state of emergency which infringe fundamental rights under article 32 (the right to constitutional remedies). The Forty-second Amendment widened Article 31C and added Articles 368(4) and 368(5), stating that any law passed by Parliament could not be challenged in court. The Supreme Court ruled in Minerva Mills v. Union of India that judicial review

4560-530: The nod from the cabinet, Finance Minister present the Union Budget in Parliament of India. The Union Minister for Finance and Corporate Affairs address a Post Budget Press Conference along with Ministers of State for Finance, Finance Secretary and all the other Secretaries of the Ministry of Finance to address the Media about announcements made during Budget speech and answer the queries Finance Minister addressed

4636-483: The rule of law. In Kesavananda Bharati v. State of Kerala , the Supreme Court ruled that an amendment cannot destroy what it seeks to modify; it cannot tinker with the constitution's basic structure or framework, which are immutable. Such an amendment will be declared invalid, although no part of the constitution is protected from amendment; the basic structure doctrine does not protect any one provision of

SECTION 60

#1732772473606

4712-579: The task of framing the Constitution could not have come to so successful a conclusion. Much greater share of the credit must go to Mr. S. N. Mukherjee , the Chief Draftsman of the Constitution. His ability to put the most intricate proposals in the simplest and clearest legal form can rarely be equalled, nor his capacity for hard work. He has been an acquisition to the Assembly. Without his help this Assembly would have taken many more years to finalise

4788-418: The then Finance Minister of India in the NDA government (led by Bharatiya Janata Party ) under Prime Minister Atal Bihari Vajpayee , who changed the ritual by announcing the 1999 Union Budget at 11 am. The tradition started from 2001. Also again in 2017, departing from the colonial-era tradition of presenting the Union Budget on the last working day of February the then Minister of Finance Arun Jaitley , in

4864-552: Was president of the United Nations Security Council , was appointed as the assembly's constitutional adviser in 1946. Responsible for the constitution's general structure, Rau prepared its initial draft in February 1948. The draft of B.N. Rau consisted of 243 articles and 13 schedules which came to 395 articles and 8 schedules after discussions, debates and amendments. At 14 August 1947 meeting of

4940-455: Was a dominion of United Kingdom for these three years, as each princely state was convinced by Sardar Patel and V. P. Menon to sign the articles of integration with India, and the British Government continued to be responsible for the external security of the country. Thus, the constitution of India repealed the Indian Independence Act 1947 and Government of India Act 1935 when it became effective on 26 January 1950. India ceased to be

5016-468: Was a void to that extent. One or two people were far away from Delhi and perhaps reasons of health did not permit them to attend. So it happened ultimately that the burden of drafting this constitution fell on Dr. Ambedkar and I have no doubt that we are grateful to him for having achieved this task in a manner which is undoubtedly commendable. B. R. Ambedkar in his concluding speech in constituent assembly on 25 November 1949 stated that: The credit that

5092-407: Was appointed as Minister of Defence , being only the second woman after Indira Gandhi to hold the post, but the first full-time female defence minister. Under her tenure, the army conducted the Balakot airstrike in retaliation to the 2019 Pulwama attack . The Indian army claimed that the operation had killed at least 170 JEM terrorists . On 31 May 2019, Nirmala Sitharaman was appointed as

5168-435: Was both the Finance Minister and the Deputy Prime Minister of India . After Desai's resignation, Indira Gandhi , the then Prime Minister of India , took over the Ministry of Finance to become the first woman to hold the post of the Finance Minister. Hirubhai M. Patel , presented the shortest budget speech for the interim budget of 1977, which was mere 800 words long. Pranab Mukherjee , the first Rajya Sabha member to hold

5244-525: Was convened just to pass Chidambaram's 1997-98 budget. This 1997 dream budget was passed without a debate. After the general elections in March 1998 that led to the Bharatiya Janata Party forming the Central Government, Yashwant Sinha , the then Finance Minister in this government, presented the interim and final budgets for 1998–99. After general elections in 1999, Sinha again became the Finance Minister and presented four annual budgets from 1999–2000 to 2002–2003. Due to elections in May 2004, an interim budget

5320-412: Was created by a constituent assembly rather than Parliament ) and was adopted by its people with a declaration in its preamble . Parliament cannot override the constitution . It was adopted by the Constituent Assembly of India on 26 November 1949 and became effective on 26 January 1950. The constitution replaced the Government of India Act 1935 as the country's fundamental governing document, and

5396-409: Was necessary for the purpose of drafting a constitution so important to us at this moment has not been given to it by the Drafting Committee. The House is perhaps aware that of the seven members nominated by you, one had resigned from the House and was replaced. One died and was not replaced. One was away in America and his place was not filled up and another person was engaged in State affairs, and there

5472-723: Was one of the 12 candidates nominated by the BJP to contest the Rajya Sabha elections due on 11 June. She successfully contested her seat from Karnataka . She has served as the Defence Minister of India and headed the Balakot Air Strike carried out by the Indian Air Force in 2019. She is currently serving as the Minister of Finance and Corporate affairs of India and has presented five annual budgets of India (as of 2023 ). On 3 September 2017, she

5548-418: Was presented by Jaswant Singh . The Union Budget of India for 2012–2013 was presented by Pranab Mukherjee , on 16 March 2012, which was the 7th budget of his career. These budgetary proposals would be applicable for financial year 1 April 2012 to 31 March 2013. The Union Budget of India for 2013–2014 was presented by P. Chidambaram on 28 February 2013. The Interim Union Budget for 2014–2015

5624-587: Was presented on 17 February 2014. The Union Budget of India for 2014–2019 was presented by Arun Jaitley . The Interim Union Budget for 2019–2020 was presented by Piyush Goyal . The Union Budget for 2019–2023 was presented by Nirmala Sitharaman . Morarji Desai has presented 10 budgets which is the highest count followed by P. Chidambaram 's 9, Pranab Mukherjee 's 8. Nirmala Sitharaman and C. D. Deshmukh have presented 7 budgets each while Manmohan Singh and T. T. Krishnamachari have presented 6 budgets each. Notes: During Deshmukh's tenure

5700-476: Was the first Speaker of the Lok Sabha (the lower house of Parliament) after India turned into a republic. B. R. Ambedkar , Sanjay Phakey, Jawaharlal Nehru , C. Rajagopalachari , Rajendra Prasad , Vallabhbhai Patel , Kanaiyalal Maneklal Munshi , Ganesh Vasudev Mavalankar , Sandipkumar Patel, Abul Kalam Azad , Shyama Prasad Mukherjee , Nalini Ranjan Ghosh , and Balwantrai Mehta were key figures in

5776-487: Was unable to complete her degree. Nirmala Sitharaman served as a member of the National Commission for Women from 2003 to 2005. Nirmala Sitharaman joined BJP in 2008. She was a national spokesperson of the party till 2014. In 2014, she was inducted into Narendra Modi 's cabinet as a junior minister and was elected in June of that year as a Rajya Sabha Member from Andhra Pradesh. In May 2016, she

#605394