Why is Union Budget presented on February 1?

Until 2016, the Budget was presented on the last working day of February. In 2017, then Finance Minister Arun Jaitley changed the Union Budget presentation date to February 1 to break the colonial era tradition. Additionally, it gave the government more time to reorient, reorganise, and train personnel to implement Budget-related announcements from the new Fiscal Year, beginning April 1.

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