Budget Manual

Abstract

The Budget process of India predates the independence. The Budget was first introduced on 7th April, 1860, two years after the transfer of Indian administration from East-India Company to British Crown. The first Finance Member, who presented the Budget, was James Wilson. Mr Liaquat Ali Khan, Member of the interim Government presented the budget of 1947-48. After Independece, India’s first Finance Minister Shri R.K. Shanmukham Chetty, presented the first Budget on 26th November, 1947. Since then, this has evolved over the past six decades to reflect the strength of our democratic processes in shaping the economy. The Ministry of Finance has brought out for the first time this Budget Manual with the aim o providing a comprehensive reference guide, describing the process of budget making to officers involved in the budget process and to others. http://finmin.nic.in/the_ministry/dept_eco_affairs/budget/Budget_Manual.pdfBudgets, open budget, budget transparency, budget making, Economics