Every year, on February 1, India’s Finance Minister presents the Union Budget to Parliament. The budget is carefully prepared over several months, considering the needs of different sectors like infrastructure, education, and defence. It clearly mentions the government's financial plans for the next fiscal year by stating how the country’s resources will be allocated and how the economy will grow.

But, do you know why a budget is always presented on February 1? or are you aware of the famous “halwa ceremony”? In this article, let’s check out 11 interesting facts about the Union Budget you must know.

• One of the most interesting facts about the Union Budget is that it is always presented on February 1.  This allows time for implementing changes before the financial year starts on April 1.
• In 2021, Nirmala Sitharaman set a record with the longest budget speech. It lasted 2 hours and 40 minutes. By doing so, she broke her own previous record of 2 hours and 17 minutes in 2020.
• Morarji Desai holds the record for presenting the Union Budget 10 times. He is closely followed by Pranab Mukherjee, who presented the budget 9 times.

1. Why is the budget always presented on February 1

The Union Budget is presented on February 1 each year. This is done to give enough time to implement any new laws or changes before the financial year begins on April 1. Also, this ensures that the government has enough time to plan and execute its economic strategies for the year.

2. Where does the word ‘Budget’ come from

The word "Budget" comes from the French word "Bougette". This term represents a small leather briefcase that is used to carry important financial documents. Also, the word is symbolic of government financial planning.

3. What is the famous “Halwa Ceremony”

One of the most interesting facts about the Union Budget is related to the tradition called “halwa ceremony”. Before finalising the Budget, a sweet dish, halwa, is distributed to officials involved in the Budget process. This marks the beginning of the Budget preparations.

4. Was the 1950 budget leaked

In 1950, the Union Budget was leaked. This event led to strict security measures. To prevent further leaks, officials involved in preparing the Budget are now kept in isolation in the North Block basement (a place in Delhi) for ten days before the Budget is announced. They remain cut off from families until February 1.

5. When was the first paperless budget presented

The 2021 Union Budget marked the first time the Budget went paperless. All the budget copies were stored digitally. This change was driven by the COVID-19 pandemic and supported the Prime Minister's “Digital India” initiative.

6. When was the time of the budget presentation changed

Before 1999, the Union Budget was presented at 5 PM. This was a tradition that followed the British rule. Finance Minister Jaswant Singh changed this practice in 1999 and made the presentation time 11 AM. This shift made the announcement more convenient for India’s economy and working hours.

7. Which female finance minister has presented maximum budgets

Nirmala Sitharaman holds the record for presenting the highest number of budgets by a female Finance Minister in India. So far, she has presented seven consecutive budgets.

8. Which finance minister has presented maximum budgets

Another interesting fact about the Union Budget is that Morarji Desai holds the record for presenting the Union Budget 10 times. It is the highest for any finance minister in India. He is followed by P. Chidambaram (9), Pranab Mukherjee (8), Yashwant Sinha (8), and Dr. Manmohan Singh (6).

9. When was the first Hindi budget issued

Before 1955, the Union Budget was printed only in English. In 1955, the Congress-led government introduced the first Hindi version. This made the budget more accessible to Indians.

10. Who gave the longest budget speech

One of the most interesting facts about the Union Budget is that our current finance minister, Smt. Nirmala Sitharaman holds the record for the longest Budget speech in Indian history.

In 2021, her speech lasted 2 hours and 40 minutes. By doing so, she broke her own 2020 record of 2 hours and 17 minutes.

Bonus fact: Who was the first woman to present a budget

In 1970, Indira Gandhi became the first woman to present the Union Budget. As Prime Minister at the time, she took on the Finance Minister role temporarily.

If you are looking for safe investment option, then you can consider investing Bajaj Finance Fixed Deposit. With a top-tier AAA rating from financial agencies like CRISIL and ICRA, they offer one of the highest returns, up to 8.85% p.a.