Budget 2024: Who holds longest budget speech record? 12 interesting facts (2024)

FAQs

Who presented the highest number of budgets? ›

Morarji Desai has presented 10 budgets which is the highest count followed by P. Chidambaram's 9 and Pranab Mukherjee's 8. Yashwant Sinha, Yashwantrao Chavan and C. D. Deshmukh have presented 7 budgets each while Manmohan Singh,T. T. Krishnamachari and Nirmala Sitharaman have presented 6 budgets.

Finance Minister Nirmala Sitharaman is set to present a crucial interim budget for the Modi government on February 1, 2024, just months before the Lok Sabha elections. The Budget presentation starts at 11 AM.

Budget Estimates 2024-25

Total receipts other than borrowings and the total expenditure are estimated at Rs.30.80 and Rs.47.66 lakh crore respectively. Tax receipts are estimated at Rs.26.02 lakh crore.

At 2 hours and 40 minutes, Nirmala Sitharaman's 2020 Union Budget address was by far the longest. The 2020 budget included two significant announcements - the LIC IPO and new income tax slabs. She broke her own 2019 record, where she spoke for 2 hours 17 minutes.

Finance Minister Nirmala Sitharaman is set to present the Union Budget 2024 in late July, marking her seventh budgetary address. Given that Sitharaman had already announced the interim budget in February, there is increasing concern over whether or not the FM will slash income tax rates.

A budget is a way to balance income, expenses and financial goals for a specific length of time.

Zero-based budgeting (ZBB) is a method of budgeting in which all expenses must be justified for each new period. The process begins from a “zero base” and every function within an organization is analyzed for its needs and costs.

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals.

WASHINGTON — On Friday, after the House passed a package of the remaining six Fiscal Year (FY) 2024 spending bills by a bipartisan vote of 286 to 134, the Senate took it up and passed it early Saturday morning with wide support by a margin of 74 to 24.

Which executive department had the largest budget? ›

Explanation: The executive department with the largest budget is Department of Defense. It manages the military forces and national security of the United States. The defense budget covers a wide range of expenses, including personnel, equipment, research, development, and operations.

The president submits the budget proposal to Congress early the next year. Proposed funding is divided among 12 subcommittees, which hold hearings. Each is responsible for funding for different government functions such as defense spending or energy and water.

The departments with the largest budgets are usually the Department for Work and Pensions, the Department of Health and Social Care and the Department for Education, which taken together account for over half of 2023/24's planned spending.

The Constitution vests Congress with the power of the purse, with provisions that refer to congressional authority to levy taxes, authorize the issuance of debt, and make appropriations to fund the federal government. 1 The Constitution does not provide an explicit role for the President in the budget process.