With the Union Budget for the financial year 2026-2027 right around the corner, it is essential for citizens to be informed about it. From historic records
and traditions to its unusual milestones, these facts reveal the depth and evolution of one of the country’s most important constitutional exercises. Union Budget 2026 is all set to be presented in the parliament by Finance Minister Nirmala Sitharaman on Sunday, February 1, 2026.
Here are some little-known facts about the Union Budget of India.
The Union Budget has a long history
The first budget in India was presented on April 7, 1860, under British rule. It was presented by James Wilson, a member of the viceroy’s executive council.
Ninth Consecutive Budget By Nirmala Sitharaman
Nirmala Sitharaman is India’s longest-serving female Finance Minister. She also holds the record of the longest-serving finance minister in an uninterrupted stretch. On February 1, 2026, she will present her ninth consecutive union budget.
First Sunday Budget in recent years
This year would be the first time since the year 2000 that the union budget is presented on a Sunday.
The origin of ‘Budget’
The word budget comes from the French word bougette, meaning a small bag. It originated as a nod to the historical practice of carrying financial documents in a bag.
Constitutional foundation
The Union Budget is mandated under Article 112 of the Indian Constitution and reflects the government’s estimated receipts and expenditure for the fiscal year.
February: Budget month
Traditionally, the budget was presented on the last working day of February, but since the early 2000s, it has been moved to February 1 (or the first working day of February).
Record-longest speech
Finance Minister Nirmala Sitharaman holds the record for the longest Union Budget speech in Indian history, delivered in 2021 for 2 hours and 40 minutes.
First woman to present the budget
Indira Gandhi became the first woman to present India’s Union budget in 1970-71 after the then finance minister, Morarji Desai, resigned.
Budget includes multiple documents
The Union Budget is not just one singular document; it is a suite of statements, including the annual financial statement, the finance bill, and the demand for grants, prepared by the Ministry of Finance.
Paperless Budgets
Paperless budgets are recent. The first paperless budget was presented in 2021 during the pandemic, with all documents digitally stored and accessed.
The Union Budget has been leaked once
Despite the strict security, the union budget was leaked once in India’s history in 1950, leading to major changes in how the printing process is secured and conducted.
Millions wait for the Budget day
Every year, millions of indians eagerly follow the budget presentation live because it affects taxes, subsidies, and funding for key public services, reflecting how deeply the document matters to citizens.
Also Read: Budget Facts: How February 1 Became Budget Day — And When It Changed
