A look at how the focus of the Union Budget has shifted over the years from the initial period when the fallout of the partition determined budgetary provisions
1948-1949: The first budget of India covered just 7-1/2 months, from August 15, 1947, to March 31, 1948. The main highlight of the first budget was the decision to pass the budget. Partition and the consequent destabilisation were the core factors that determined the budget provisions. The three major expenses in the budget were on food grain production, defence services and civil expenditure. Food production was low, and therefore, self-sufficiency in food grains was accorded highest priority. The targeted budget revenue was Rs 171 cr (approx). Of this, Rs 15.9 crore was expected from the posts and telegraph department. The expected revenue expenditure was Rs 197 cr (approx), of which defence was allocated Rs 92.74 crore. The increase in expenditure was on account of expenses allocated for stabilisation, refugee relief and rehabilitation.
The National Development Council (NDC) is meeting on December 27 to approve the 12th Five Year Plan (2012-17). The Plan draft recommends “immediate” steps to counter the economic slow down. It has made plan goals conditional to these steps. But delay has marred the Plan’s rolling out. According to Planning Commission sources, it is only in the budget of 2014 that the Plan will be reflected. However, government has the freedom to take economic revival steps that are outside the domain of the Commission.
