India's Top 10 Union Budgets: From Independence to Liberalization and Beyond

• India's first post-independence budget in 1947, presented by R.K. Shanmukham Chetty, focused on defense spending amid partition.
• The 1991-92 "Epochal Budget" by Manmohan Singh initiated liberalization, devaluing the rupee and reducing import duties to address a forex crisis.
• P. Chidambaram's 1997-98 "Dream Budget" significantly cut personal and corporate income taxes, boosting investment and growth.
• Yashwant Sinha's 2000-01 "Millennium Budget" fueled India's IT boom by reducing computer duties and exempting IT exports from income tax.
• Nirmala Sitharaman's 2020-21 budget, the longest speech, introduced a new tax regime and stimulus measures to address COVID impacts.

Why It Matters: Key Union Budgets shaped India's economic trajectory, from post-independence planning to liberalization and digital growth.