We bet you didn't know about the history of the term 'Budget'

Lucknow: Like many English words the term ‘Budget’ has also a very interesting and glorified history attached to it. Not only its origin is quite amusing but its journey into English language has also an interesting twist.

Originating from the French word 'Bougette' to making its way into English language, the word 'Budget' changed a lot from its original sense and usage.

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Where French word 'Bougette' meant leather briefcase it became a word to represent Finances. The word 'Budget' originally meant a pouch or wallet, and later contents inside the wallet.

In the mid 18th century, the Chancellor of the Exchequer, in presenting his annual statement, was said ‘to open the budget’. In the late 19th century the term was widely being used from governmental to other finances.

In 1860, the then chief William E Gladstone used a red suitcase with Queen’s monogram embossed in gold to carry his bundle of papers. The Budget briefcase came into being because Gladstone’s speeches were extraordinarily long and he needed a briefcase to carry his speech papers.

Thus the term budget got its new meaning from being a briefcase to hold budget papers to becoming budget itself. What a dramatic change in meaning and usage? Isn't it?

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