Second, this is also the first time in the history of Independent India when the union and railway budget would be presented together. As Finance Minister Arun Jaitley presents his fourth Union Budget, here is a brief historical outline of the Budget of India. Once Chetty resigned, the portfolio of finance ministry was taken over by K C Neogy. Narasimha Rao-led government, under the finance ministry of Manmohan Singh, opened up the economy encouraging foreign investments and reducing import duties. In 2016, Finance Minister Arun Jaitley presented the second annual budget of the Narendra Modi-led government.

Source: Indian Express February 01, 2017 04:56 UTC