As Finance Minister Nirmala Sitharaman prepares to present her eighth consecutive Union Budget, the process remains shrouded in secrecy. The Budget-making process involves the Finance Minister and high-ranking officials working in isolation, with strict measures like mobile phone bans. Ministries, states, Union Territories, and various departments are tasked with preparing estimates, and only after approval from the Prime Minister does the Budget go for printing.
The security around the Union Budget was heightened following an infamous incident when it was leaked.
When The Union Budget Was Leaked
The leak of the Budget in 1950 remains one of the earliest and most significant instances in India’s history. The event took place during the tenure of Finance Minister John Mathai, under the leadership of Prime Minister Jawaharlal Nehru.
At that time, India was a newly independent nation, and the process of preparing and presenting the Budget was not as tightly controlled as it is today. The incident in 1950 occurred when a few pages of the Budget were leaked from the Rashtrapati Bhavan press, where they were being printed, hours before the official presentation in Parliament.
This leak created a media frenzy, as journalists had access to confidential information ahead of the Finance Minister’s speech.
John Mathai was accused of serving the interests of powerful people. He resigned shortly after presenting the Budget.
Budget Printing Location Changed
At that time, the printing of the Budget took place at the Rashtrapati Bhavan, which is the official residence of the President of India. After the leak, the venue for printing the Budget was shifted to a government press on Minto Road in Delhi to maintain secrecy.
Later, in 1980, the North Block basement at the capital’s Secretariat Building became the permanent location for printing Budget papers.