Predecessors of Arun Jaitely And their Revolutionary Budgets

Palaniappan Chidambaram: P. Chidamabaram, an eminent Indian economist and politician, is a close second to Morarji Desai with eight budget sessions. He is one of the most known FMs, post-independence and also an important INC member.

A law graduate by qualification, Chidambaram as the FM struck a balance in the economy by launching tax reforms to tackle unwieldy fiscal deficit. He boosted aggregate demand in the economy to insulate recession.

Sir Chintaman Dwarakanath Deshmukh: C.D. Deshmukh, as he is popularly known, was the Indian Civil Servant and the first ever Governor of RBI in 1943. Deshmkh drafted a total of seven annual budgets in his tenure. He is also the founding member of National Council of Applied Economic Research (NCAER), the fist policy formulated by the government of India.

Deshmukh represented India at the Bretton Woods Conference that led to the two biggest financial organizations in the world—International Monetary Fund and World Bank.

Also Read: Want To Buy World Cup Stamp Souvenirs? Visit Philatelic Bureau
Rail Budget Futuristic And Passenger Centric: Modi