Which are some of the most notable budgets that shaped India's trajectory?

Independent India's first budget in 1947, and the 1957 Budget, when India first introduced wealth tax, are among India's most-notable budgets that shaped India's trajectory. The 1973 "Black Budget" saw a ₹550-crore deficit, 1986 Budget dismantled License Raj controls, and the iconic 1991 Budget brought liberalisation, privatisation and globalisation. The 1997 Budget cut income tax from 40% to 30%.