Sunday, May 24, 2009
Facts about budget
Believe it or not!
The word budget's root word is the French word BOUGETTE, a little bag, once used for pills and medication.
Tight security: Almost 30 employees of the Finance Ministry press stay inside the ministry building for a week ahead of the Budget presentation. They're not allowed to communicate with the outside world. This is done to ensure that information from the Budget is not leaked out.
Morarji Desai was the only Indian Finance Minister to have presented two budgets on his birthday, February 29, in 1964 and 1968.
The world's first documented imprisonment for tax evasion was in 306 A.D. by Emperor Constantine of the Holy Roman Empire.
The world's first income tax was levied in 1404 A.D. in England (it was so hated that Parliament later had all records of it burned).