Independent India’s first general budget was presented in which of the following years?

Independent India’s first general budget was presented in the year 1947-48. The budget was presented on November 26, 1947, by John Mathai, who was the Finance Minister at the time. This budget was significant as it was the first financial plan of the newly independent nation, aimed at establishing the economic framework in a challenging post-colonial context. The focus was on rebuilding the economy, addressing issues such as poverty, and laying the groundwork for future development.

The budget outlined the government’s expenditure priorities and tax policies, and it aimed to foster a sense of financial stability and growth within the country. This initial budget set the stage for subsequent fiscal policies and economic strategies that would guide India through the early years of independence and into the years of economic planning and development.