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Uncategorized - June 10, 2022

Why budget briefcase is red

Industry Desk: Economic activities throughout the year are determined in the budget. So, people all over the country keep an eye on the budget. The finance minister has the biggest role in formulating the budget. That is why the person in this position becomes the most important on the budget day. After getting out of the car in Parliament on the day of budget announcement, all eyes are on the briefcase in the hands of the finance minister. The headline of the budget news is the briefcase in the hands of the minister.
That’s why everyone’s curiosity came to the culture of this briefcase.
Former caretaker government adviser. According to Akbar Ali Khan’s latest book, Budget in Bangladesh: Economy and Politics, England’s economy grew much larger after the
Industrial Revolution. Budget proposals could not be packed in just one wallet. That’s why briefcases come in the place of wallets.
The finance minister got out of the car with a mysterious smile on his face. Briefcase in hand. This scenario seems to be repeated again and again on budget days in all countries of the world for ages. Millions of crores of rupees in hand briefcases, but not in coins, in printed statements. The finance minister entered the Parliament and stated the amount of that money. The finance ministers are curious to know when this briefcase system started.
The book mentions another reason for using the briefcase. That is, it is essential to maintain the confidentiality of any tax increase or decrease in the budget. Traders can use the information inside the briefcase overnight knowing any budget information. Therefore, I want to keep the proposals secret before presenting the budget in the parliament for a good reason. It is not possible for a finance minister to fulfill the responsibilities of a finance minister who cannot maintain the secrecy of the budget.
It is known that this style of budget briefcase started from 18th century. The first started from the United Kingdom. The budget chief was asked to open the briefcase and present the budget. In 180, William E. Gladstone, Britain’s chief budget officer, brought budget documents in a “red suitcase”. The suitcase was emblazoned with gold on the queen’s face. The same bag was used during the tenure of many governments.
According to the custom, the head of the finance department entered the parliament to present the budget in a ‘red briefcase’. However, the color of this mysterious briefcase was not always red, it has changed many times. However, whatever the color, this briefcase is considered as a symbol of budget. In fact, the origin of the word budget refers to this briefcase. The word budget comes from the old French word buget (boget). Budget means bag. In the past, it was called ‘budget’ because the country’s income and expenditure account were brought to the legislature or parliament.
But the description in the Oxford English Dictionary is a little different. It says that in the sixteenth century, the word “opening one’s budget” was used in the sense that someone was revealing something that was secret, perhaps even a little suspicious. It’s a lot like getting a strategy out of a bag.

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