The Annual financial statement in the Article 112 of the Constitution of India is commonly known as the Union Budget of India. The first ever Union Budget of India was presented by the first Finance Minister of India RK Shanukham Chetty in 1947. First woman Prime Minister of India Indira Gandhi was also the only woman finance minister in the history of India. For the first time in 92 years, the Rail Budget, usually presented separately, will be merged with the Union Budget of 2017. The printing of the Budget documents starts roughly a week before the date of the Budget presentation.

Source: India Today February 01, 2017 05:39 UTC