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• February 1 in India, then Pakistan’s budget when?
• Be sure to read the dizzying reason behind the date!

Budget of Parliament of India The session has started from 28th January and the whole country is focused on 1st February. Finance Minister Nirmala Sitharaman will present the Union Budget of the country on this day. But, did you know? Neighboring country of India In Pakistan When is the budget presented? There is a stark difference between the budget process of India and Pakistan.

Nirmala Sitharaman’s new record

India’s Finance Minister Nirmala Sitharaman will set a new record by presenting the ninth consecutive budget on February 1. Nirmala Sitharaman will equal former Prime Minister Morarji Desai’s record of 10 budgets presented at various times. Desai presented a total of six budgets as Finance Minister between 1959-1964 and four between 1967-1969. Former Finance Minister P. Chidambaram and Pranab Mukherjee presented nine and eight budgets respectively during the tenure of different Prime Ministers. Importantly, after coming to power for the second time in 2019, Prime Minister Narendra Modi appointed Sitharaman as India’s first full-time woman finance minister. Then, after the Modi government came to power for the third time in 2024, he took charge of the finance ministry. So far, Sitharaman has presented a total of eight consecutive budgets, including the interim budget of February 2024.

‘Halwa Ceremony’ before Budget

In India, there is a tradition of ‘Halwa Ceremony’ before presenting the budget. It is a sweet treat for the officers and staff preparing the budget. After this program the budget printing work is speeded up and utmost confidentiality is observed. Minister of State for Finance Pankaj Chaudhary and Senior Secretary of the Ministry were present in the ceremony along with Finance Minister. Also, secretaries of all departments under the Ministry of Finance and other senior officers involved in budget preparation were present.

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When is the budget presented in Pakistan?

In India, the budget is presented on February 1, while in Pakistan, the budget is presented in the beginning of June. Because in India the financial year is from 1st April to 31st March, whereas in Pakistan the financial year starts from 1st July. There is no fixed date for the budget in Pakistan. There the budget is presented in the National Assembly (Parliament) after the approval of the Cabinet.

Pakistan’s budget process

Also, according to the information, the ‘Speaker’ has the right to decide the day of the budget session in the National Assembly of Pakistan. There any member has the right to propose to reduce the proposed amount. After discussion and voting on grant demands, the budget is approved there.

Budget of India vs Budget of Pakistan

If you don’t know, India’s budget is eight times bigger than Pakistan’s. According to media reports, India’s budget for 2024-25 is ₹47.65 lakh crore, almost eight times higher than Pakistan’s budget of ₹5.65 lakh crore. For India alone, total revenue excluding debt and total expenditure are estimated at ₹34.96 lakh crore and ₹50.65 lakh crore respectively.

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