Union Finance Minister Nirmala Sitharaman will be presenting the Union Budget 2021 on February 1. This is going to be India’s first-ever paperless Union Budget after Finance Minister Nirmala Sitharaman launched the Budget mobile app a few days ago.
Unlike the past, the voluminous Budget documents will not be printed this year, following the COVID-19 protocol and will instead be distributed electronically to the Members of Parliament (MPs). The economy is still reeling from the effects of COVID-19. The budget comes against the backdrop of recession with growth in two consecutive quarters in the red.
Here are certain interesting facts you should know about the Union Budget:
1. The word ‘budget’ is derived from the word ‘bougette’ which means small bag in French.
2. James Wison presented the first-ever Indian budget. He was a Scottish economist and politician in 1860.
3. The Railway and Union Budget were presented seperately ill 2017, and then they merged into…