New Delhi. PM Narendra Modi has once again entrusted the charge of Finance Ministry to Nirmala Sitharaman. As soon as she got the charge of Finance Ministry, Nirmala Sitharaman is preparing to present the full budget of the Modi government. Nirmala Sitharaman is going to present the first full budget of the third term of the Modi government in July. Earlier, due to the Lok Sabha elections, Sitharaman had presented the interim budget in February. This time, as soon as she presents the full-time budget in July, Nirmala Sitharaman will create a new record and leave behind the veteran leader former PM Morarji Desai.
Actually, Morarji Desai had presented the budget 6 times in a row. In total, Morarji Desai presented 10 budgets. Nirmala Sitharaman equaled Morarji’s record of presenting the budget 6 times in a row by presenting the budget for the sixth time last year. Now she is going to break Morarji Desai’s record by presenting the budget for the 7th time. If we talk about the budgets presented during the tenure of other finance ministers, P. Chidambaram has presented 9 budgets so far. However, he could not do so continuously. Pranab Mukherjee also presented 9 budgets. Yashwant Rao Chavan, CD Deshmukh and Yashwant Sinha also presented 7 budgets in different years. Whereas, Manmohan Singh and TT Krishnamachari presented 6 budgets each.
A big team of the Finance Ministry helps Nirmala Sitharaman in preparing the budget. This team includes the Finance Secretary, Revenue Secretary, Expenditure Secretary and other officials. The budget is printed in the Finance Ministry’s press itself. It is kept confidential until the budget is presented. If the budget is leaked before presentation, the government has to resign. It is necessary to get the budget passed by the Lok Sabha. After discussion on the budget passed by the Lok Sabha, it is also approved after discussion in the Rajya Sabha. The provisions of the budget come into effect every year when the new financial year begins from April 1.