From 5 PM to 11 AM: Why Did Budget Timing Change?
At present, the budget is presented at 11 am, but this wasn't always the case. It used to be presented in the evening.
image for illustrative purpose
The Union Budget presentation is an important yearly event in India, where the Finance Minister shares the government's plans for income and spending for the next year.
This presentation influences economic policies and various sectors. Currently, the budget is presented at 11 am, but this wasn't always the case. Earlier, it used to be tabled at 5 pm in the evening.
Time of Budget Presentation
Until 1999, the Budget was traditionally presented at 5 pm, a practice dating back to the colonial era. This timing was advantageous for the British government as it facilitated simultaneous announcements in London and India.
Considering that India is five hours and thirty minutes ahead of the UK, the budget was unveiled at 5 pm in India and 11:30 am in London.
The 5 pm timing stayed the same even after India gained Independence, however, in 1999, Yashwant Sinha, the Finance Minister under the Atal Bihari Vajpayee government, changed the presentation time to 11 am as India was no longer a British colony. So India didn't need to follow London's time.
The new timing also gave lawmakers and officials more time to review and discuss the budget.
For the first time, Yashwant Sinha unveiled the Union Budget on February 27, 1999, at 11 am. This timing has since become the norm, with all subsequent Union Budgets being presented at the same hour.
