Within a span of 26 days, Finance Minister Nirmala Sitharaman is scheduled to present her sixth budget on February 1. However, this budget will be a vote-on-account due to the upcoming general elections slated for April-May 2024. The complete budget is expected to be introduced after the formation of the new government following the general elections.
A vote-on-account enables the government to secure Parliament's approval for essential expenditures, ensuring the fulfillment of its financial obligations until the full budget is presented and approved. Plus, the interim budget mechanism allows for the continuity of essential government functions during the transitional period.
FM Sitharaman has ruled out any "spectacular announcement" for her sixth budget, stating that it would be a vote-on-account before the general elections.
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In her inaugural budget presentation in July 2019, FM Sitharaman departed from the century-old tradition of carrying budget documents in a leather briefcase. Instead, she chose to present the budget documents wrapped in a red silk cloth adorned with the national emblem embossed on it. This move has been widely appreciated as a significant departure from a colonial tradition.
Longest Budget Speech
FM Sitharaman holds the record for delivering the longest budget speech, speaking for two hours and 42 minutes (162 minutes) during the presentation of the 2020-21 Budget on February 1, 2020. The FM had to cut short her speech due to health concerns, and at that point, she had two pages remaining in her speech.
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In 2023, FM Sitharaman presented her fifth consecutive budget in the Lok Sabha, concluding her speech in one hour and 27 minutes (87 minutes). This marked her shortest budget speech to date. In 2022, FM Sitharaman presented the Budget in one hour and 32 minutes (92 minutes), and in 2021, she spoke for one hour and 50 minutes (110 minutes). In 2019, FM Sitharaman tabled her first budget, speaking for two hours and 17 minutes (137 minutes).
Most Extensive Budget Address in Terms of Word Count
Former Prime Minister Manmohan Singh holds the record for delivering the longest budget speech in terms of words. During his tenure as Finance Minister in 1991, his budget speech comprised 18,650 words. Arun Jaitley, who served as the Finance Minister during the first term of the Modi government, comes in second with a speech containing 18,604 words. Jaitley delivered this speech in one hour and 49 minutes.
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Shortest Budget Speech
In 1977, the budget speech delivered by then Finance Minister Hirubhai Mulljibhai Patel was relatively concise, measuring in at just 800 words. The length of budget speeches can vary widely, influenced by factors such as the complexity of economic conditions, policy changes, and the style of the presenting minister.
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