Business

For the first time in 73 years, the budget document will not be printed, the Minister of Finance will send an electronic copy | For the first time in 73 years, the budget document will not be printed, the Minister of Finance will address himself by electronic copy

For the first time in 73 years, the budget document will not be printed, the Minister of Finance will send an electronic copy

Annoyed by the ads? Install the Divya Bhaskar app to read the news without ads

2 minutes ago

Copylinks Members of Parliament were given two options: electronic copy to all or none for technology experts to Members of Parliament, it was not possible for them to print a limited number of copies.

The Corona Eclipse was also felt in the budget document that has been released every year since independence (91947). The 2021-2022 budget documents for this period are not printed due to fears of a Corona transition. The government got the approval of the chairman of Lok Sabha and chairman of Rajya Sabha for this. This time all MEPs will receive electronic copies of the budget documents.

This time, the truck delivering the document outside Parliament on Budget Day will not be seen. The Union budget is printed each year in the printing press of the Ministry of Finance. The finance ministry says more than 100 people must stay in one place for two weeks to print the budget documents. Given Corona, the government can’t keep that many people in the printing press for that long.

There have been enormous difficulties in convincing members of Parliament on the issue of electronic copying. According to sources, Lok Sabha chairman and vice chairman had to face many difficulties in convincing MPs to electronic copying. Two options were kept with the budget document. All MPs should receive an electronic copy or not at all. In addition, it is not possible for a Member to print a limited number of copies. It was argued that if the documents were to be printed, there could be a risk of Corona transitioning in their transport.

A fortnight ago, the printing process began with a halwa ceremony
The Union budget was first introduced in independent India on November 26, 1947. Since then, its documents have been printed annually. The Ministry of Finance holds a halwa ceremony every year to mark the start of printing budget documents. The ceremony takes place in the basement of the North Block a fortnight before the budget is presented to Parliament. Now the question is whether the halwa ceremony will also officially take place when the budget is not printed?

3 important changes in the budget process

1. Budget in a leather bag
The budget documents of the Minister of Finance are usually carried in a leather bag. This tradition was started by the country’s Prime Minister of Finance (1947-1949) RK Shanmukham Chetty did so. In 2019 and 2020, Finance Minister Nirmala Sitharaman took the budget documents from the traditional red ledger.

2. Began to be released at 11 am instead of 5 pm.
The timing of budget presentation also changed with commodities. Until 1999, the budget was presented at 5 p.m. on the last working day of February. Yashwant Sinha, who was the finance minister of the Atal Bihari Vajpayee government, changed this tradition and started presenting the budget at 11 a.m.

3. The rail budget has also become part of the general budget
In 2016, then Finance Minister Arun Jaitley announced that from now on, the Union’s budget would be presented on February 1. In addition, the rail budget, presented separately for 92 years, has also been included in the central budget.

Back to top button