Budget FAQs: Who presented the first Mini Budget?
- 4 years ago
Sitharaman’s July 2019 budget presentation was small, as it retained most of the pointers of Modi 1.0’s interim budget and a few new announcements were made.
But, India’s fourth Finance Minister, TT Krishnamachari presented the first ‘mini budget’ on November 30, 1956. In his 5,000-word long speech, Krishnamachari announced new taxation proposals
aimed at dealing with an economy plagued with rising inflation and dipping forex reserves.
However, he had to resign in February, 1958 after the one-man Justice Chagla Commission found him guilty of corruption
Click here to get the latest updates on Budget 2020: shorturl.at/fENP3
But, India’s fourth Finance Minister, TT Krishnamachari presented the first ‘mini budget’ on November 30, 1956. In his 5,000-word long speech, Krishnamachari announced new taxation proposals
aimed at dealing with an economy plagued with rising inflation and dipping forex reserves.
However, he had to resign in February, 1958 after the one-man Justice Chagla Commission found him guilty of corruption
Click here to get the latest updates on Budget 2020: shorturl.at/fENP3