budget

Union Budget 2025: Why Was Indira Gandhi’s 1973 Budget Called the ‘Black Budget’?

In 1973, India faced one of its most challenging economic periods, leading to the infamous ‘Black Budget’ presented by Finance Minister Yashwantrao B. Chavan. This budget, marked by a massive fiscal deficit of Rs 550 crore, reflected the economic strain the country was under. But what exactly made this budget so notorious? What were the key policy decisions and how did they shape India’s financial future? In this video, we explore the reasons behind the ‘Black Budget,’ its impact on India’s economy, and its lasting legacy. Watch to learn more about this pivotal moment in India’s financial history.

first published: Jan 14, 2025 07:14 am