No, Nirmala Sitharaman isn't India’s First Woman minister of finance to Present Union Budget.
Indira Gandhi acquired the finance portfolio following the resignation of Morarji Desai from the post. Morarji Desai submitted his resignation in July 1969 in protest against the Gandhi government’s move to nationalize major banks in India.
Finance minister Nirmala Sitharaman is about to present her second Union Budget, which contains the small print about the government‘s revenue and expenditure for financial year 2020-21, on Saturday.
However, contrary to the favored belief, Nirmala Sitharaman isn't the first minister of finance of India. it had been former Prime Minister Gandhi , who presented the budget in 1970-71.
She served because the minister of finance for a year before allocating the finance portfolio to home minister, Yashwantrao Chavan.Meanwhile, Sitharaman presented her first Union Budget on July 5 last year after taking up because the minister of finance in May 2019. Departing from the convention of carrying a brown budget briefcase, Sitharaman held a red bag to hold Budget papers in 2019.
Referred to as “bahikhata”, the red bag had the national emblem inscribed on that.
Besides being the second woman minister of finance , Sitharaman is additionally the second female defence minister after Gandhi , who handled the defence portfolio between November 1975 and December 1975 and once again from January 1980 to January 1982.
In the Union Budget 2020, there are expectations that Sitharaman will tweak in personal income-tax rates, long-term financial gain (LTCG) tax and dividend distribution tax (DDT).