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Why is there so much secrecy around the preparation of Union Budget?
Interim Budget 2024: The first Budget (1947-1948) for independent India was announced by the Union Finance Minister Sir RK Shanmukham Chetty.
The Budget session has begun and the Interim Budget will be announced by Finance Minister Nirmala Sitharaman tomorrow in the Parliament. This is an interim budget before a new government is elected. Nirmala Sitharaman has said that “no spectacular announcements” are coming up on February 1. But whatever she announces, remains a secret as Budget is kept ‘strictly confidential. But why? Years ago, the Budget was leaked.
When and how was the Budget leaked?
The first Budget (1947-1948) for independent India was announced by the Union Finance Minister Sir RK Shanmukham Chetty. Ahead of the Budget, UK Chancellor of the Exchequer Hugh Dalton mentioned to a journalist that some tax changes have been proposed in the budget. The details were published before the Budget speech in the Parliament. This led to a huge controversy after which Hugh Dalton was forced to step down.
Read more: Budget throwback: A look at Independent India's first Union Budget
Years later, in 1950, a portion of the Union Budget was leaked when the printing would take place at Rashtrapati Bhawan. After the leak, the printing of the Budget was shifted from Rashtrapati Bhawan to Minto Road.
How is the Budget kept a secret?
From 1951 until 1980, the Budget was printed at a press on Minto Road. Then a government press was set up in the basement of the North Block. Ahead of the Budget announcement, the finance ministry office becomes heavily guarded and cannot be visited by anyone media until the presentation. Those involved in the making of the Budget are under scrutiny by the Intelligence Bureau with the help of the Delhi Police. An intelligence team, which is headed by the joint secretary, monitors the movement of officials involved in the process.
