Here's a look at some interesting facts about the Union Budget of India.
Until 1999, the budget was announced at 5 pm on the last working day of February. This practice was inherited from the colonial era, when the British parliament would pass the budget at noon followed by India in the evening on the same day.
In photo: Indian parliament (AFP)
Yashwant Sinha, the then finance minister of India in the NDA government which was led by Prime Minister Atal Bihari Vajpayee, in 2001 changed the practice of presenting budget from 5 pm to 11 am.
In photo: Yashwant Sinha (AFP)
Former finance minister Morarji Desai has presented the budget ten times - highest by any finance minister.
In photo: Morarji Desai (Getty)
P. Chidambaram has presented the budget eight times which is the second highest followed by Pranab Mukherjee, Yaswant Sinha, Y.B Chavan and C.D Dehmukh who have presented the Union budget on seven occasions respectively.
In photo: P. Chidambaram (AFP)
Jawaharlal Lal Nehru, Indira and Rajiv Gandhi have presented the budget while serving as the Prime Minister of India.
In photo: Jawaharlal Lal Nehru (L), Indira Gandhi, Rajiv Gandhi (R) (Others)
Corporate tax was first introduced by Rajiv Gandhi in the 1987 budget.
In photo: Rajiv Gandhi (L) (Getty)
The budget was first introduced in India on 7th April, 1860 by the East-India Company to the British crown. The first Indian budget was presented by James Wilson on February 18, 1869.
In photo: James Wilson (Others)
Budget papers in Hindi were first printed in 1955.
In photo: Yashwant Sinha (R) going through the budget papers (Others)