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1947 48 Independent India’s first budget

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Mr. H. Assured us we could ignore her histrionics and proceed with the installation. 1947 48 Independent India’s first budget, presented by finance minister RK Shanmukham Chetty, earmarked a total expenditure of Rs 197.39 crore. Nearly half of this (46 percent) or Rs 92.74 crore was allocated for just one department. Shanmukham Chetty, in independent India’s second budget, used a term that later became an institutional process for every year the Lok Sabha elections are held.

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