💨 Abstract

The first budget of independent India, presented in November 1947, acknowledges the historic significance of the occasion. The finance minister, RK Shanmukham Chetty, outlines the economic challenges faced by the newly formed nation, including the partition's impact on economic and cultural unity, the deterioration in the economic situation due to disturbances, migration, and food shortages, and the persistence of inflationary trends.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖