These were some of the Budgets that impacted our economy in the most significant of ways, bringing in changes and reforms that define it even today. Moneycontrol News @moneycontrolcom 1/7 1947| Independent India's first Finance Minister RK Shanmukham Chetty presented India's first Budget, which allocated 46% of total expenditure (Rs 197.39 crore) to the Defence Services Department. (Image: Wikimedia Commons) 2/7 1968| Morarji Ranchhodji Desai's Budget, commonly known as the People's Budget, simplified the assessment of goods by introducing the system of self-assessment for all manufacturers. This Budget also abolished 'spouse allowance'which was a tax saving tool for both the taxpayers - husband and the wife. This was done in order to "to eliminate this unintended strain on the relationship of marriage." 3/7 1991| Commonly known as the Epochal Budget, the then-Finance Minister Manmohan Singh under the Narasimha Rao government, took steps for India to welcome globalization and slashed import licensing and promoted exports. 4/7 1997| The-then Finance Minister P Chidambaram’s “Dream Budget” put across a roadmap for economic reforms in India which included lowering income tax rates, removal of the surcharge on corporate taxes, and introduced a scheme on prevention of black money. 5/7 2000| The-then Finance Minister Yashwant Sinha put forward the 'The Millennium Budget' which aimed at making India a software-IT hub, as it introduced exporting software. 6/7 2005| Commonly known as the Aam Aadmi Budget and tabled by former Finance Minister P Chidambaram, the Budget introduced lower corporate tax and customs duty, MNREGA and RTI. 7/7 2018| Finance Minister Arun Jaitley will present this year's Budget on Feb 1 - the Budget after India adopted Goods and Services Tax - a new tax reform.