Why do Finance Ministers carry a briefcase on Budget day?
The tradition of carrying a briefcase on Budget day was adopted from the British, who have been carrying 'Budget Box' since 1860. The word 'budget' is derived from the French word 'bougette', which means 'small bag'. In India, the tradition was established by first Finance Minister RK Shanmukham Chetty, who carried a briefcase for the first budget speech in 1947.