What Record Nirmala Sitharaman will Equal on 1st February 2024?
On February 1, 2024, India’s Finance Minister, Nirmala Sitharaman, is poised to achieve a significant milestone in her tenure by presenting her sixth consecutive budget since assuming office in July 2019. This noteworthy feat positions her to equal the record set by former Prime Minister Morarji Desai, who, as the finance minister, presented six consecutive budgets, including five annual budgets and one interim budget, between 1959 and 1964.
Contents
- 1 Who is Morarji Desai, and what is the record Nirmala Sitharaman is set to equal?
- 2 How does Nirmala Sitharaman’s record compare with other finance ministers in terms of consecutive budget presentations?
- 3 Nirmala Sitharaman’s Remarkable Journey:
- 4 What is anticipated in Nirmala Sitharaman’s upcoming interim budget?
- 5 What is the political significance of Nirmala Sitharaman’s consecutive budget presentations?
- 6 Economic Outlook:
- 7 Conclusion:
Who is Morarji Desai, and what is the record Nirmala Sitharaman is set to equal?
Morarji Desai, a stalwart in Indian politics, held the finance portfolio during a crucial period, presenting a total of ten budgets — the highest by any finance minister. Sitharaman’s accomplishment of equaling Desai’s record is a testament to her continuous commitment to steering India’s economy through a series of annual financial plans.
How does Nirmala Sitharaman’s record compare with other finance ministers in terms of consecutive budget presentations?
| Finance Minister | Number of Budgets Presented in a Row | Years |
|---|---|---|
| Morarji Desai | 6 (5 annual, 1 interim) | 1959-1964 |
| Nirmala Sitharaman | 6 (anticipated, including interim) | Since July 2019, ongoing |
| Arun Jaitley (Post 2014) | 5 | 2014-2018 |
| Manmohan Singh | 5 | 1991-1995 |
| P Chidambaram | 5 | 2004-2008 |
| Yashwant Sinha | 5 | 1998-2002 |
Nirmala Sitharaman’s Remarkable Journey:
Nirmala Sitharaman made history as the first full-time woman finance minister in India. Since taking charge, she has demonstrated resilience and leadership, steering the country through economic challenges, including the unprecedented impact of the COVID-19 pandemic.
What is anticipated in Nirmala Sitharaman’s upcoming interim budget?
Sitharaman’s upcoming budget on February 1 will be an interim or vote-on-account budget for the fiscal year 2024-25. This budgetary approach allows the government to authorize spending until a new government assumes office following the general elections scheduled for April-May. Given the proximity to the elections, Sitharaman has indicated that the interim budget may not include major policy changes. Instead, it is expected to focus on immediate fiscal needs, providing a bridge until a new government is formed. Interim budgets traditionally do not involve sweeping economic reforms, with the major announcements typically deferred until after the elections.
What is the political significance of Nirmala Sitharaman’s consecutive budget presentations?
The presentation of six consecutive budgets underscores Nirmala Sitharaman’s pivotal role in shaping India’s economic policies. This accomplishment positions her among the select few who have held the finance minister position with such continuity and authority.
Economic Outlook:
As India races to achieve the ambitious goal of becoming a $5 trillion economy by 2027-28 and $30 trillion by 2047, Sitharaman’s role in navigating economic challenges becomes even more critical. Her budgets have included measures aimed at addressing immediate concerns while laying the foundation for future economic growth.
Conclusion:
On February 1, 2024, Nirmala Sitharaman is set to etch her name in the annals of Indian economic history by equaling the record set by Morarji Desai with her sixth consecutive budget presentation. As the nation anticipates the outcomes of the upcoming general elections, Sitharaman’s interim budget will play a crucial role in providing stability and continuity in fiscal matters, reflecting her commitment to the economic well-being of the country.
