This is the front page of Indian Express on Nov 28, 1947 after India’s first Finance Minister R K Sanmukham Chetty presented “first Budget of a free and independent India” on Nov 26, 1948.

Ramasamy Chetty Kandasamy Shanmukham Chetty served as the first Finance Minister of Independent India. The country’s first budget was tabled on November 26, 1947. The Planning Commission was introduced during his tenure.

The first budget presenter of independent India stated in his speech that the budget statement was meant for seven and a half months. He budgeted a revenue of ₹171.15 crore and a revenue expenditure of ₹197.39 crore.

Term in office: August 15, 1947 - August 17, 1948