Budget 2024-25: Union Finance Minister Nirmala Sitharaman is set to present the budget today, 23rd July. This will mark her 7th consecutive budget presentation. The tradition of presenting the budget in India dates back to before independence, with the use of briefcases to hold budget documents. Despite the shift to digital documents, the use of briefcases continues. Let’s delve into the history and significance of the budget and the briefcase.
Budget 2024-25: Origin of the Word “Budget”
The term “budget” originates from the English word “budget,” which signifies the financial position of an administration. This word is derived from the French word “Bougette,” meaning leather briefcase.
Budget 2024-25: Tradition Brought to India from Britain
The tradition of using a briefcase for budget presentations was adopted from Britain. In 1860, Chief William E. Gladstone used a briefcase for the first time to present Britain’s budget, which became known as the ‘Gladstone Box’ and garnered worldwide attention.
First Use of Briefcase in Independent India
India embraced this British tradition, with various finance ministers opting for different briefcases in different colors. The first finance minister of India, R.K. Shanmukham Chetty, used a red leather briefcase to present the nation’s first budget on November 26, 1947. In 1958, Prime Minister Pandit Jawaharlal Nehru presented the budget in a black briefcase instead of the red one.
Modi Government’s Innovations: From Briefcase to Tablet
Over time, the color and design of the budget bag have evolved. In 2019, Finance Minister Nirmala Sitharaman broke the tradition by using a ‘ledger’ instead of a briefcase for the Union Budget papers. In 2021, she replaced the ‘ledger’ with a ‘tablet,’ making the budget presentation entirely digital for the first time. Nevertheless, the red briefcase remains a symbol still in use today.
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