weather_iconAshburn | -0.4 °C | AQI 31
Tuesday, 11 February, 2025

---Advertisement---

Business

Union Budget 2025: Britain Had Influence On Budget Presentation In India Until 1999 – Here’s How

There has always been curiosity about why India used to present its budget at 5 PM until 1999, before changing it to 11 AM.

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.

---Advertisement---

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.

---Advertisement---

Also Read: Union Budget 2025: Will Nirmala Sitharaman Put Dalal Street On Fire? Know How Will BSE, NSE Soar?

HISTORY

Written By

Priyanka Negi


Get Breaking News First and Latest Updates from India and around the world on News24. Follow News24 on Facebook, Twitter.

Related Story

Live News

---Advertisement---


live

Latest LIVE News Trending Today, Real Time Updates

Feb 11, 2025
Latest LIVE News Trending Today, Real Time Updates
  • 07:22 (IST) 11 Feb 2025

    Prayagraj: Massive Crowd Of Devotees Arrive At Maha Kumbh To Take Holy Dip In Sangam

N24 Shorts Logo

SHORTS

Ravindra Jadeja (Photo Credit- BCCI Photo)
Sports

India Vs England: Ravindra Jadeja On A Verge Of Shocking Double Century In 3rd ODI – Will He Join Cricket’s Legends?

Ravindra Jadeja eyes a huge record in the 3rd ODI against England, but Rohit Sharma and Gambhir might intervene.

View All Shorts

---Advertisement---

Trending