Before independence, Finance Department, Assam comprised only two branches — Finance and Budget. However, with the passage of time Assam economy grew in size and function manifold. To adapt to the changing circumstances, the department gradually expanded to its current size of 12 branches. The Budget system was first introduced in India on 7th April, 1860. James Wilson, the first Indian Finance Member delivered the budget speech expounding the Indian financial policy as an integral whole of India.