The Union Budget of India, a key instrument outlining the government’s revenue, expenditure, and economic policies, has evolved significantly since its inception in the colonial era. India’s first Union Budget was presented on April 7, 1860, by James Wilson, the finance member of the Indian Council and founder of The Economist. At that time, the budget was printed exclusively in English, catering to the British administration and its English-speaking audience.

After independence, the first Union Budget of the Republic of India was presented by Finance Minister R. K. Shanmukham Chetty on November 26, 1947. While the framework of the budget remained, there was a growing recognition that such a critical document needed to be accessible to a broader Indian audience beyond officials and policymakers.

This shift culminated in 1955 under then Finance Minister CD Deshmukh. For the first time, the Union Budget was printed in both Hindi and English, marking a historic moment in India’s parliamentary and administrative history. The move made the document more inclusive, reflecting the linguistic diversity of the country and strengthening citizen engagement with government policy.

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During his tenure, CD Deshmukh also played a pivotal role in building India’s financial institutions, including reinforcing the authority of the Reserve Bank of India. An economist and civil servant, he was instrumental in shaping India’s early Five-Year Plans, laying the foundation for industrial growth and infrastructure development.

Today, the Union Budget continues to evolve with technology and changing priorities. Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget for the fiscal year 2026-27 on February 1, 2026. This will be her ninth consecutive budget—the most by any Indian finance minister. Notably, she introduced India’s first paperless budget in 2021, presenting it via a digital tablet carried in a traditional ‘bahi-khata’ pouch, symbolically merging modernity with tradition.

The evolution from a colonial-era English document to a bilingual, digitally accessible presentation highlights the Union Budget’s ongoing role in shaping economic policy while remaining closely connected to India’s diverse population.

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