Budget 2020: These 8 budgets of the country are discussed the most, know what is special in them

New Delhi: Finance Minister Nirmala Sitharaman will present the budget on 1 February. This will be the second budget of Sitharaman. Economic survey will be released on 31 January. Let us know that the government now presents the same budget, now the railway budget is not presented separately. Some of the budgets that have been presented in India so far have often been discussed. In this news, we are telling about some similar budget.

Let us tell you that the first budget of India was presented by an Englishman James Wilson on 18 February 1860. James was a member of the British Viceroy’s Council. Liaquat Ali Khan presented the budget of the last government of India formed before independence. This budget was from 9 October 1946 to 14 August 1947. Talking about the post-independence budget of India, the first budget of independent India was presented by the then Finance Minister RK Shanmukham Shetty on 26 November 1947. It was an interim budget.

1967-68 budget:

The budget was first presented by the Deputy Prime Minister (Morarji Desai), who was also the Finance Minister. It was the first budget of its kind in a special respect.

Budget of 1968-69:

This budget is also remembered for the ‘Spouse Allow’ ending. This used to be a means of saving tax. The advantage was that both husband and wife saved income tax.

1969–70 budget:

After the Budget was introduced, the prices of some products rose sharply, in fact, taxes were raised due to what was seen as a ‘status symbol’. Imported cars whose duty was increased from 60 to 100 per cent, were brought on par with other luxury items, which were seen as status symbols.

Budget of 1970-71:

It was introduced by the woman Prime Minister Indira Gandhi, who was also the Finance Minister at the time.

Budget 1971-72:

After this budget, 20 percent tax will have to be paid for purchasing tickets in cash. If you pay for the ticket in foreign currency, it will not be taxed. In this budget, a new arrangement was made to curb cash deals which had a direct impact on tourists.

Budget 1972-73:

In this, after solving the crossword puzzles, a tax of 34.5 percent was proposed on the awards earned. This budget did not prove to be good for those who love words and literature.

Budget 1974-75:

In this income tax and surcharge was reduced from 97.75 percent to 75 percent. The income tax structure was reformed in this budget.

Budget 1975-76:

In this budget, the benefit of incentive bonus scheme was introduced to government employees so that they often do not withdraw money from their provident fund accounts.