Union Finance Minister Nirmala Sitharaman does away with the tradition of carrying a Budget briefcase. Outside the North Block, she was seen carrying a red folder with the national emblem wrapped with a ribbon instead of a Budget briefcase. This red folder was described by officials as the "bahi khata". Chief Economic Advisor Krishnamurthy Subramanian said that the Budget briefcase had been replaced by the traditional 'bahi khata' in keeping with Indian tradition. "It is in Indian tradition. It symbolizes our departure from slavery of western thought. It is not a budget but a 'bahi khata'(ledger)," Mr Subramanian was quoted as saying in ANI's tweet.
Chief Economic Advisor Krishnamurthy Subramanian on FM Nirmala Sitharaman keeping budget documents in four fold red cloth instead of a briefcase: It is in Indian tradition. It symbolizes our departure from slavery of Western thought. It is not a budget but a 'bahi khata'(ledger) pic.twitter.com/ZhXdmnfbvl— ANI (@ANI) July 5, 2019
Here are 10 things to know about Budget:
1. Finance Minister Nirmala Sitharaman, MoS Finance Anurag Thakur, Finance Secretary SC Garg, Chief Economic Advisor Krishnamurthy Subramanian and other officials were also accompanying the minister outside the finance ministry.
2. Union Budget 2019 will be presented at 11 am in Lok Sabha today.
3. This Budget will be the first full budget by the Prime Minister Narendra Modi-led National Democratic Alliance (NDA) government after returning to power in May.
4. Ms Sitharaman, India's first full-time woman finance minister, is expected to raise spending and cut taxes on business in Budget 2019 to shore up the economy after a five-year low.
5. Down the years, it has been seen that the finance minister announcing the budget carries a briefcase, which contains the printed Budget speech.
6. The first Union Budget of Independent India was presented on November 26, 1947 by RK Shanmukham Chetty. He carried a leather bag.
7. Jawaharlal Nehru - who presented the budget in 1958 - carried a black briefcase.
8. Manmohan Singh, who delivered the Budget in 1991, carried a black bag.
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'.
Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.