In the lead-up to the Emergency, Yashwantrao B Chavan presented the 1973-74 Budget under Indira Gandhi's government, which was dubbed the Black Budget due to a high fiscal deficit of Rs 550 crore.
As Finance Minister, Jaitley streamlined the process with a unified Budget, now the standard practice.
Known as the ‘Epochal Budget,’ it was presented during a period of economic crisis, with significant reductions in customs duty and measures to promote exports.
The story "Budget news: A look at landmark Union Budget announcements in the past" has 502 words across 22 sentences, which will take approximately 3 - 5 minutes for the average person to read.
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