1973 Union Budget Called India's 'Black Budget'

The 1973 Union Budget is called India's 'Black Budget' because it had a very big financial problem.

The government spent more money than it earned, which is called a fiscal deficit.

This happened because of many bad things that happened one after another.

First, India had a war with Pakistan, which cost a lot of money.

Then, there was a very bad drought that made food prices go up.

At the same time, the price of oil went up all over the world, which made things even harder.

The government tried to fix these problems by taking control of important industries and spending money on helping people and improving farming.

This budget is remembered because it showed how tough things were for India at that time.