Union Budget 2025 | When the budget was leaked in 1950

The Union Budget for the upcoming financial year is all set to be presented on February 1, 2025, by Finance Minister Nirmala Sitharaman.

Budget making is a secret process and is done by the Finance Minister along with high-ranking officials. People involved in budget-making are put in a lockdown and are refrained from using their mobile phones until its presentation.

Ministries, states, union territories, defence forces and other departments are asked to prepare estimates. The budget goes for printing once it is approved by the Prime Minister.

The security measures of this top-secret affair were breached once in 1950 when John Matthai was the Finance Minister.

A portion of the 1950 Union Budget was leaked when printing of the budget used to still take place at Rashtrapati Bhawan.

Following the leak, the venue of printing was changed to a government press on Minto Road.

Since 1980, the North Block basement at Delhi's Secretariat Building has become the permanent place for printing the budget.

The 1950 budget was the first to have a surplus with receipts having stood at Rs 347.5 crore and expenditure at Rs 337.88 crore.

The then finance minister Matthai had to resign post the budget leak, as he was accused of being serving interests of higher powers and affluent people.

Union Budget 2025 | Nirmala Sitharaman, who continues to be Finance Minister, will present her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', reports suggest there might be a tax relief for those making up to Rs 15 lakh per year. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.