47% for defence, Rs 197 crore expenditure: A look at India’s first Budget in 1947

India’s budgetary journey began with the first Union Budget presented on November 26, 1947, amidst the trauma of Partition and economic uncertainty. This interim budget focused on relief, rehabilitation, and defence, reflecting the nation’s immediate challenges. Today, the Union Budget is a detailed roadmap for a rapidly growing economy, showcasing India’s significant economic evolution.