The word Budget is derived from the French word 'Bougette' which means a leather bag, and that's why you'd see every Finance Minister carrying a leather briefcase on the Budget Day. The tradition to carry a bougette started over one and a half century ago, when in 1860, the then Britain's Chancellor of the Exchequer Chief William Ewart Gladstone carried a red suitcase for his bundle of financial papers with the Queen's monogram embossed in gold over it.