The Historical Context of India’s First Budget RK Shanmukham Chetty's first Indian budget allocated Rs 92.74 crore to defense out of Rs 197.39 crore total, and introduced shared currency with Pakistan until September 1948, amid partition turmoil.
Prime Ministers Who Presented the Budget After Finance Minister T. T. Krishnamachari resigned in 1958, Jawaharlal Nehru took over presenting the Union Budget. Later, the budget presentations were handled by Morarji Desai, Indira Gandhi, Rajiv Gandhi, and Manmohan Singh.
The Introduction of Hindi in Budget Documents In 1955, Finance Minister CD Deshmukh introduced bilingual printing of the Union Budget, advocating prudent financial management and debt control.