Budget 2024: 7 most remarkable budgets in Indian history
business Jul 12 2024
Author: Team Asianet Newsable Image Credits:Freepik, our own
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1. Black Budget (Yashwantrao B. Chavan - 1973)
It was termed the 'Black Budget' due to the high fiscal deficit, which amounted to Rs 550 crore
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2. Carrot and Sticks Budget (1986)
A blend of incentives to encourage economic growth and stringent measures to curb tax evasion and black money. It was the first step towards demolishing the licence raj in India.
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3. Epochal Budget (Manmohan Singh - 1991)
It is known for its economic liberalisation reforms, this budget marked the shift from a closed economy to an open market.
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4. Dream Budget (P Chidambaram - 1997)
It introduced several economic reforms, including lowering income tax rates, removing corporate tax surcharges, and reducing corporate tax rates.
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5. Millennium Budget (Yashwant Sinha - 2000)
The budget included measures to promote IT and telecommunications, helping to establish India as an IT powerhouse.
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6. Railway Merger (Arun Jaitley - 2017)
It was the first budget to be presented on February 1 instead of the traditional date. Additionally, the 2017 budget merged the Railway Budget with the General Budge