Each year on Budget Day, the sight of the Finance Minister carrying the red bahi-khata into the Parliament signals the start of India’s most closely watched financial exercise. This year, Finance Minister Nirmala Sitharaman is set to present her ninth consecutive Union Budget on Sunday, Feb. 1, at 11 am.
The term “bahi-khata” comes from Hindi, where “bahi” means book and “khata” means account. Traditionally, a bahi-khata is a ledger used for bookkeeping and account management. For generations, such ledgers have been a common sight in Indian shops, businesses, and households. These bound books, often wrapped in cloth, were used to record credits, debits, and financial transactions long before digital accounting became the norm.
History Of The Budget Presentation
For decades, finance ministers followed the British practice of carrying the Union Budget documents in a leather briefcase. This tradition came from Britain’s budget rituals, dating back to the 18th century, when the British Chancellor of the Exchequer famously carried budget papers in a red leather case. This practice lasted well over a century.
The change came in 2019, when Finance Minister Nirmala Sitharaman broke with this colonial legacy by carrying the Budget in a bahi-khata. Instead of a leather briefcase, she chose a red cloth ledger stamped with the national emblem.
Since then, the way the Budget is carried has continued to evolve. Since 2021, the Finance Minister has presented the Union Budget in a paperless format. She reads from a digital tablet instead of printed documents. This tablet is still encased in a red cover styled like a bahi-khata.
Why Red?
The bahi-khata is bright red in colour for a reason. In Indian tradition, red is frequently associated with auspiciousness, prosperity, energy, and strength. Red cloth is also traditionally used to cover sacred texts.
Union Budget 2026
The Union Budget 2026 is expected to focus on economic growth while maintaining fiscal discipline. Some expectations include income tax relief for the middle class, possible changes in tax slabs, and measures to increase disposable income. The government is likely to continue spending on infrastructure, including roads, railways, and urban development, to support investment and employment. Support for manufacturing, MSMEs, and start-ups is also expected, along with steps for job creation, skill development, agriculture, and rural development, while keeping the fiscal deficit under control.
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