Indian Union Budget 2021-22: On 1 February, Union Finance Minister Nirmala Sitharaman will present the budget of the financial year 2021-22. This will be the third budget of the second term of the Modi government. This budget has become very important due to Corona epidemic and subsequent economic crisis. In the budget, announcements and provisions to strengthen the economy will be made along with the expenditure incurred by the government in the next financial year.
After independence, many finance ministers came, some finance minister presented the budget for the first time, some presented the budget on his birthday and some set the record for presenting the budget most times. Some gave the longest budget speech and some gave the shortest budget speech. In the midst of all this, there was a Finance Minister who had once presented India’s budget but after some time he became the first Prime Minister of Pakistan.
Liaquat Ali Khan was the Finance Minister in the country’s first interim government
Before independence, an interim government was formed in the country under the leadership of Pandit Jawaharlal Nehru. In this, both the Congress and the Muslim League formed a government together. Liaquat Ali was appointed as the representative of the Muslim League and he became the Finance Minister in the interim government. Liaquat Ali Khan presented the budget as the Finance Minister of the Interim Government on 2 February 1946 in the Legislative Assembly Building (today’s Parliament House).
The then Finance Minister called it the ‘Puerman Budget’ (Budget of the poor). Liaquat Ali Khan also called the budget proposals as ‘Socialist Budget’. However, this budget was not liked by the industries and they strongly criticized the budget.
Liaquat Ali Khan went to Pakistan after partition
The country was partitioned in 1947 at the midnight of 14–15 August and Liaquat Ali Khan moved to Pakistan after independence. Liaquat Ali Khan was a prominent leader of the Muslim League and was also close to the founder of Pakistan, Mohammad Ali Jinnah.
He was the Finance Minister of undivided India till independence and when he went to Pakistan after partition he became the first Prime Minister of Pakistan. In undivided India, he contested from Meerut and Muzaffarpur in Uttar Pradesh. Although he was born in Karnal, undivided Punjab.