From which year onwards is the Union of India Budget presented on 1 February instead of the last day of February?

Correct option is A

Sol: The correct answer is (a) 2017

The Union of India Budget has been presented on 1st February since the year 2017.

Before that, the Union Budget was traditionally presented on the last day of February. The change was introduced by Finance Minister Arun Jaitley in 2017 to allow more time for the government to implement the budget proposals before the start of the new financial year on April 1st.

Information booster:

Union of India Budget:

1. The Union of India Budget is an annual financial statement presented by the Finance Minister.
2. It outlines the government's revenue, expenditure, and financial plans for the upcoming fiscal year.
3. The first Union Budget was presented in 1860 by James Wilson, the finance member of the indian council 
4. The first Union Budget of independent India was presented on November 26, 1947 by the then Finance Minister, R. K. Shanmukham Chetty​
   
5. The Budget is presented in Parliament and must be approved by both the Lok Sabha and Rajya Sabha.
6. The Economic Survey is presented a day before the Union Budget to provide a summary of the country's economic performance.
7. The Budget includes provisions for taxation, government spending, and public sector investments.
8. It is now presented on 1st February since 2017, instead of the last day of February, to allow early implementation of plans.
9. The Budget document has two parts: Revenue Budget (income and expenditure) and Capital Budget (long-term investments and loans).
10. The Budget is crucial for shaping the country’s economic direction and ensuring financial stability.