Current Affairs

GK MCQs Section
Q. Consider the following statements regarding the history of the Union Budget in India:
  1. The first budget of independent India was presented by R.K. Shanmukham Chetty in 1947.
  2. The Railway Budget was presented separately from the Union Budget until it was merged in 2017.
  3. Until 1991, the Union Budget was presented at 5 p.m. in the evening.
  4. The term "Halwa Ceremony" associated with the budget was introduced in the 1990s.
Which of the above statements is/are correct?
Answer: Only 1, 2 and 3
Notes: The first budget of independent India was indeed presented by R.K. Shanmukham Chetty in 1947. The Rail Budget was merged with the Union Budget only in 2017. Until 1991, the budget was read at 5 p.m., a British era practice. The Halwa Ceremony is much older than the 1990s, making statement 4 incorrect.
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📌 Question Number: 25 in History of Indian Economy, Features, Economic Policy and Planning in the above course in App.