WATCH: Budgets that Changed the Indian Economy Forever

Budgets are critical to any Nation. It dictates how a country would progress financially over the next financial year. It has a huge impact on the lives of the common man. India is no exception. All Budgets are important, but some stand out because of the ground-breaking work they did.

Ahead of Narendra Modi's Union Budget 2016, we at Business Insider have compiled the most iconic Budgets in the history of the Indian economy.

Image credit: Wikipedia