Kamal Ghorui
Union finance minister Nirmala Sitharaman on Sunday presented her ninth consecutive Union Budget speech in the Lok Sabha, clocking a duration of 1 hour and 25 minutes. The speech laid out the government’s fiscal roadmap for 2026‑27, covering spending plans, tax proposals, and policy priorities, marking one of the most closely watched events on India’s economic calendar.Sitharaman, who became finance minister on May 31, 2019, now holds the record as the longest-serving finance minister in continuous office, completing six years and eight months in the role. Prime Minister Narendra Modi described her ninth straight Budget presentation as “a moment of pride in India’s parliamentary tradition.”Over the years, the duration and style of her Budget speeches have varied. Her first Budget in 2019, the Modi government’s maiden presentation, lasted 2 hours and 8 minutes, making it the longest on record at the time. She became only the second woman in independent India to present the Union Budget and the first full-time woman finance minister to do so. The speech featured couplets in Urdu, Hindi and Tamil and replaced the traditional leather briefcase with a red cloth ‘bahi-khata’.In 2020, Sitharaman delivered India’s longest Budget speech in independent history, running nearly 2 hours and 39 minutes, before ending slightly early due to feeling unwell. The 2021 Budget lasted 1 hour and 50 minutes and saw a focus on health and infrastructure, framed around six pillars including well-being, infrastructure, inclusive development, human capital, innovation, and governance. The 2022 Budget ran 1 hour and 32 minutes and outlined a long-term roadmap for the Amrit Kal, with an emphasis on public investment and infrastructure modernisation, presented in a brown Bomkai saree from Odisha.The 2023 Budget lasted 1 hour and 27 minutes and introduced the Saptarishi vision, guiding the country through Amrit Kaal with seven priorities ranging from inclusive development to green growth, and marked the first time a woman finance minister presented the Budget to a woman president. 2024 included both an Interim Budget of 56 minutes and a full Budget of 1 hour 22 minutes, surpassing Morarji Desai’s record. The 2025 Budget underlined a focus on Garib, Yuva, Annadata, and Nari, lasting just 1 hour and 14 minutes, her shortest full Budget speech to date.This year, Sitharaman announced an increase in the capital expenditure (capex) target to Rs 12.2 lakh crore for FY27, up from Rs 11.2 lakh crore in the current fiscal year. The fiscal deficit is expected to narrow slightly to 4.3 per cent of GDP, down from 4.4 per cent projected for 2025–26, while net tax receipts are estimated at Rs 28.7 lakh crore.The total size of the Union Budget has been pegged at Rs 53.5 lakh crore. The general government debt-to-GDP ratio stood around 85 per cent in 2024, including 57 per cent attributed to central government debt.Historically, other long-serving finance ministers include Morarji Desai, who presented the Budget ten times, and P Chidambaram, who did so nine times, though neither delivered them consecutively.
