Miscellaneous - This Day That Age   

dated March 1, 1956: Central Budget

Presenting his sixth annual Budget in Parliament on February 29, the Finance Minister, Mr. C.D. Deshmukh, expressed his satisfaction on the economic progress made during the year. The First Five-Year Plan had been fulfilled to a satisfactory extent and had laid "sound foundations for a more massive superstructure in building up the country's economy." The current year's revenue deficit of Rs. 17.35 crores was now expected to be converted into a surplus of Rs. 12.31 crores, due to improvement in excise duties and saving in Defence expenditure. The overall deficit was now estimated at Rs. 222 crores against Rs. 327 crores anticipated.

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