Why Is The Budget Presented On Feb 1
By: NDTVNewsDesk
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The Union Budget is presented on February 1, a trend established over the last few years.
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The Budget was earlier presented by the end of February, specifically the last working day of the month. So, why was the date changed?
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The shift in the Budget presentation date took place in 2017 when Arun Jaitley was the Union Finance Minister.
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The decision was driven by the need for more time to prepare for the new financial year, which begins on April 1.
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The change in date is aimed at streamlining the process and ensuring a timely presentation of the Budget.
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In the past, the custom of presenting the Union Budget at the end of February often delayed proceedings.
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By the time the Budget was passed and implemented, it was already well into the new financial year.
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Another change was the shift in the time. Until 1999, the Budget was presented at 5 pm on the last working day of February.
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In 1999, under the leadership of then-Finance Minister Yashwant Sinha, the timing was brought forward to 11 am.
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