weather_iconAshburn | 4.81 °C | AQI 30
Tuesday, 11 February, 2025

---Advertisement---

Business

Union Budget 2025: Why India Switched The Budget Presentation Time From 5 PM To 11 AM In 1999?

In 1999, India changed the timing of its Union Budget presentation from 5 PM to 11 AM, marking a significant departure from colonial-era practices.

There has always been a question about why India presented the budget at 5 pm until 1999 and later changed the timing to 11 am. According to reports, the practice of presenting the budget at 5 pm originated during British colonial rule. The timing was decided based on British Summer Time (BST) and Greenwich Mean Time (GMT).

Indian Standard Time (IST) is 4.5 hours ahead of British Summer Time (BST) and 5.5 hours ahead of Greenwich Mean Time (GMT). Presenting the budget at 5 pm IST ensured it took place during the daytime in the UK, either at 12:30 pm BST or 11:30 am GMT, for the convenience of the British.

---Advertisement---

The Change Of Timing From 5 Pm To 11 Am:

India began presenting the Union Budget at 11 am in 1999, under Finance Minister Yashwant Sinha during the Atal Bihari Vajpayee-led government. Sinha, who served as the country’s finance minister from 1998 to 2002, introduced this new timing.

The change eliminated the need to align with the UK’s time zone and was intended to provide more time for parliamentary discussions and budget analysis. Sinha presented the first Union Budget at 11 am on February 27, 1999, and the practice has continued ever since.

---Advertisement---

Also Read: Share Market Today: Sensex And Nifty Ends Their 2-Day Winning Streak, Settles Down In Red

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: CBI Arrests Four In Tirupati Laddu Prasadam Ghee Scam

Feb 10, 2025
Latest LIVE News Trending Today, Real Time Updates
  • 22:03 (IST) 10 Feb 2025

    PM Narendra Modi Arrives In Paris To Co-Chair AI Action Summit

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