 "Nirmala Sitharaman attends traditional halwa ceremony ahead of February 1 presentation. File image: PTI")
All eyes are on the 2026 Union Budget, set to be presented on Sunday (February 1).
But how much do you really know about the big day? Take the word budget. It originates from the French bougette, meaning a small bag used to carry financial papers. India’s very first Budget was delivered on April 7, 1860, by James Wilson, a Scottish economist. After Independence, India’s first annual Budget was presented on February 28, 1948, by then Finance Minister RK Shanmukham Chetty.
Only three Indian Prime Ministers have presented a Union Budget: Jawaharlal Nehru, Indira Gandhi, and Rajiv Gandhi. In 1970–71, Indira Gandhi became the first woman to present India’s Budget after the resignation of the then Finance Minister.
Another interesting fact: the record for the longest Budget speech by word count belongs to Dr Manmohan Singh, who used 18,650 words in his landmark 1991 Budget.
In this graphic, we walk you through some of the more fascinating and key moments in the history of the Union Budget.