From Jawaharlal Nehru to Manmohan Singh: 5 Prime Ministers who presented Union Budget

In India’s political history, there have been several Prime Ministers who have taken on the responsibility of presenting the Union Budget. While the Finance Minister typically handles this task, some Prime Ministers have had to step in and present the Budget themselves due to various circumstances. Here’s a look at those prominent leaders who have had a hand in shaping India’s fiscal policies by presenting the Union Budget.

1. Jawaharlal Nehru

Jawaharlal Nehru, India’s first Prime Minister, holds the distinction of being the first Prime Minister to present the Union Budget in 1958. This unprecedented event occurred after T T Krishnamachari, the then-Finance Minister, was forced to resign following the exposure of the Mundhra Scandal on February 12, 1958. With no Finance Minister in office, Nehru took on the additional responsibility of presenting the Budget himself.

2. Morarji Desai

Morarji Desai, who served as Prime Minister from 1977 to 1979 under the Janata Party, holds the record for presenting the most number of Union Budgets in India. During his tenure as Finance Minister, he presented a total of 10 budgets, including 8 annual and 2 interim budgets. His notable tenure as Finance Minister spanned from 1959 to 1963, with Desai presenting the annual budgets for those years, along with the interim budget in 1962. He also presented additional budgets in 1967, 1968, and 1969, along with an interim budget in 1967.

3. Indira Gandhi

Indira Gandhi, India’s first female Prime Minister, also stepped into the role of presenting the Union Budget. After Morarji Desai’s resignation in 1969, Gandhi took over the Finance Ministry and presented the Union Budget for 1970. After a year, she handed over the role to Home Minister Yashwantrao Chavan, who became the new Finance Minister.

4. Rajiv Gandhi

Rajiv Gandhi, who became Prime Minister in 1984, briefly took charge of the Finance Ministry in 1987. He presented the Union Budget between January and July 1987 after the removal of V P Singh, the previous Finance Minister. His term as Finance Minister was short-lived, but he made an impact during his tenure.

5. Manmohan Singh

Manmohan Singh, perhaps one of India’s most well-known Finance Ministers, served under Prime Minister P V Narasimha Rao from 1991 to 1996. The 1991 Union Budget that Singh presented is regarded as one of the most transformative in India’s history. This budget introduced significant liberalisation, privatisation, and globalisation measures that helped revive India’s stagnant economy. Singh also presented the 1994 budget, which introduced the service tax, a crucial revenue-generating tool for the government.

These Prime Ministers, whether by necessity or design, have played significant roles in shaping India’s economic trajectory by presenting the Union Budget. From the transformative policies of Manmohan Singh in the 1990s to Nehru’s early leadership, each has left their mark on the country’s financial landscape. The Union Budget continues to be a crucial tool for India’s economic development, and the leaders who present it help steer the nation toward its fiscal and developmental goals.