Initially, the Union Budget was presented on February 29. The then Finance Minister Arun Jaitley changed the long followed tradition to February 1 in 2016. There is no specific date for the presentation of the Budget in the Constitution.
Former FM Arun Jaitley decided to change the date of presenting the Budget so that the legislative approval for annual spending plans and tax proposals could be completed before the beginning of the new financial year on April 1.
The preponed budget announcement date helps the complete process of budget approval. The finance bill can be implemented from April 1 onwards due to this change extra 27 day period.
However, opposition parties said that early approval and implementation of the budget could give the ruling party an unfair advantage as the move was made to increase their vote-bank in the coming elections.
