There has always been a question about why India used to present the budget at 5 pm until 1999, and why the time was changed to 11 am. The 5 pm timing was decided during British colonial rule. It was based on British Summer Time (BST) and Greenwich Mean Time (GMT).
India Standard Time (IST) is 4.5 hours ahead of BST and 5.5 hours ahead of GMT. Presenting the budget at 5 pm IST meant that it would happen during the daytime in the UK, around 12:30 pm BST or 11:30 am GMT. This was done for the convenience of the British.
In 1999, the timing for the budget presentation was changed to 11 am. This decision was made by Finance Minister Yashwant Sinha during the government of Atal Bihari Vajpayee. The new timing removed the need to follow the UK’s time zone and gave more time for discussions and analysis in Parliament. The first Union Budget presented at 11 am was on February 27, 1999. Since then, this new timing has been followed.
The change to 11 am helped focus on India’s needs and allowed for a better schedule for Parliament’s discussions on the budget.
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