India

Budget 2024: A budget which took the country out of the economic crisis and gave impetus to development, Manmohan was the architect! – Interim Budget 2024 Former FM Dr Manmohan Singh Key Role in 1991 Budget to Boost Indian Economy tutd theinsiderinsight


Nirmala Sitharaman is going to present the country's Interim Budget 2024 on 1st February i.e. today. In view of the elections, many sectors have high expectations from this budget. However, how special this budget will be will soon be revealed. There are some interesting facts related to the budget, about which very few people know. One such budget was presented in 1991. This budget is called 'Epochal Budget'. With this budget, the pace of economic development of the country increased.

In the year 1991, there was the government of PV Narasimha Rao and the Finance Minister at that time was Dr. Manmohan Singh (FM Dr. Manmohan Singh). A historic budget was presented this year. Manmohan Singh started the era of economic liberalization by ending the licensee rule of the country. This budget was presented at a time when the country was heading towards economic decline. Many big steps were taken in this budget regarding exports. Customs duty was reduced from 220 percent to 150 percent. Also, doors were opened for foreign investors.

Why is it called Yugantri Budget?
In this budget, entry of foreign companies was also allowed and many rules were changed. Besides, many important steps were also taken to promote business. This step increased the number of products exported from the country. Due to this, the government treasury also started getting filled and gradually the country started moving towards development. This budget of the then Finance Minister Dr. Manmohan Singh (FM Dr. Manmohan Singh) is known as 'Evolutionary Budget'.

Nirmala Sitharaman will present the budget for the sixth consecutive time
Nirmala Sitharaman will present the budget for the sixth consecutive time with this budget. It includes five full budgets and one interim budget. With this, she will equal Morarji Desai's record of five full budgets and one interim budget. Another record in her name is that she is the first woman Finance Minister who has presented five full budgets. He holds the record for reading the longest budget speech in 2020, 2 hours 42 minutes.

Related Posts

1 of 273