In Pics | Iconic budgets that changed India

As the country eagerly awaits for 2022-23 budget, to be presented by the Finance Minister Nirmala Sitharaman on February 1, here is a look at some of the iconic budgets that shaped the Indian economy.

1. 1947 | The first-ever Budget was presented by India's first Finance Minister R K Shanmukham. The Budget issued 46 per cent of the nation's total expenditure to the Defence Services Department. Credit: Wikimedia Commons Photo

2. 1968 | The people's Budget, was presented by Morarji Desai. The 1968 Budget abolished 'spouse allowance', and introduced the self-assessment system for all manufacturers by simplifying the assessment of goods. Credit: Wikimedia Commons Photo

3. 1973 | The Budget submitted by Yashwantrao B Chavan was named 'The Black Budget'. Chavan set aside Rs 56 crore in this budget for the nationalisation of coal mines, general insurance companies, and Indian Copper Corp. It is said that the decision had a negative influence on India's coal productivity and led to a huge reliance on imports to meet domestic demand in the years to come. Credit: AFP Photo

3. 1991 | The Budget, often known as 'The Epochal Budget,' was given by Manmohan Singh in 1991, during the Indian economic crisis, and heralded the start of economic liberalisation. Under the Narasimha Rao government, Manmohan Singh revamped the import-export strategy and took steps to make the Indian economy more globally competitive. Credit: PTI Photo

4. 1997 | The Budget was dubbed as the 'Dream Budget' because the then Finance Minister, P Chidambaram, of the United Front administration, made significant adjustments to lower personal and corporate income taxes. Credit: PTI Photo

5. 2000 | The 'Millennium Budget' provided by Yashwant Sinha in the year 2000 is credited with revolutionising India's Information Technology (IT) sector. Sinha scaled off Manmohan Singh's incentive for software exporters in this budget, which policy experts praised as a brave choice. Credit: PTI Photo

6. 2003 | Under criticism from the opposition, Yashwant Sinha's Budget was dubbed as the