A Historical Perspective and Analysis of India’s 2024-2025 Interim Budget
History: - The first use of the word ‘ Budget ’ probably referred to this financial statement from the part of Robert Walpole who was the first British Prime Minister and first Chancellor of the Exchequer. Robert Walpole led the government of Great Britain for more than twenty years from 1721. Robert Walpole (Source - Portrait by Jean-Baptiste van Loo , 1740 ) During British Rule, The Budget was first presented in India on 7 April 1860 from the East-India Company to the British Crown. James Wilson presented the first Indian Budget on the 18th of February 1869. Mr. Wilson served as the Finance Member of the India Council which was the advisory body to the Indian Viceroy. The first ever Union Budget of Independent India was introduced by the first ever Finance Minister of Independent India Sir R. K. Shanmugham Chetty on November 26, 1947. Most notably, the first-ever Union budget presentation happened at the time which was marked by devastati