Union Finance Minister Nirmala Sitharaman will present the Budget 2019 on July 5. The Budget 2019 will be the first full budget by the Prime Minister Narendra Modi-led National Democratic Alliance (NDA) government after returning to power in May. Budget is an annual financial statement of estimated receipts and expenditures of Government of India. Over the years, it has been seen that the finance minister announcing the budget carries a briefcase. This 'budget briefcase' contains the printed budget speech.
Union Budget 2019: Here are 10 things to know about 'Budget briefcase':
1. The word "Budget" originates from the French "bougette" or leather bag.
2. The "budget case" tradition started in the 18th century, when the Chancellor of the Exchequer or Britain's budget chief was asked to 'open the budget' while presenting his annual statement.
3. In 1860, former British budget chief William E Gladstone, carried his papers in a red suitcase with the Queen's monogram in gold. The same bag was used by several governments.
4. The first Union Budget of Independent India was presented on November 26, 1947 by RK Shanmukham Chetty. He carried a leather bag.
5. Jawaharlal Nehru - who presented the budget in 1958 - carried a black briefcase.
6. Manmohan Singh, who delivered the Budget in 1991, carried a black bag.
7. Yashwant Sinha, finance minister in the Atal Bihari Vajpayee-led governments, also carried a black bag.
8. Pranab Mukherjee, as Manmohan Singh's finance minister, carried a 'red briefcase'.
9. Finance Minister Arun Jaitley held up a tan briefcase in the past.
10. Piyush Goyal, who presented the interim Budget on February 1, 2019, carried a 'red briefcase'.
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