New Delhi: Ahead of Union Budget 2020, junior finance minister Anurag Thakur shared the photo of a rare book, which will surely impress economy experts, enthusiasts and the likes. This is amongst the oldest books in the Budget Press library, wrote Anurag Thakur. “It narrates India’s economic transition since 1947,” the minister added. (Full Coverage of Union Budget 2020) Also Read - Union Budget 2020: All Eyes on Nirmala Sitharaman's Second Budget Amid Slowdown | 5 Things to Expect
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Well, it is a compilation of Budget speeches of Union finance ministers comprising two volumes. Volume I is from 1947-48 to 1990-91 and Volume II is from 1991-92 to 1997-98. Why two volumes, one may ask. The volumes actually demarcate the pre-liberalisation and the post-liberalisation period of Indian economy.
The first Union Budget of independent Indian was presented by RK Shanmukham Chetty on November 26, 1947. Morarji Desai, Indira Gandhi, Pranab Mukherjee, Rajiv Gandhi, ND Tiwary, Manmohan Singh presented the following budgets till 1992.
In his 1992-93 Budget, Manmohan Singh encouraged FDI. Then P Chidambaram, IK Gujral, Yashwant Singh, Pranab Mukherjee, P Chidambaram again, Arun Jaitley, Piyush Goyal presented the Budget