Budget 2024 focuses on small steps rather than grand reforms, sparking varied opinions on its effectiveness.
Historical budget transformations in India showcase shifts from plan allocations to liberalization era, reshaping economic policies over 50 years.
Deep dives
Impact of Budget 2024 on India
Budget 2024 sparked varied opinions with some considering it a significant move while others criticized it as a mere patchwork. The budget's focus on small steps over grand reforms was debated, raising questions on its effectiveness. Analysts highlighted shifts in budget themes and the need to manage expectations amidst evolving fiscal strategies.
Economic Evolution Through Budgets
In a span of over 50 years, the budget landscape in India has transformed significantly from the era of large plan allocations to the liberalization period. Historical budget approaches entailed complex excise duty changes, reflecting the economic priorities of different times. Notable changes like the abolition of the license raj reshaped economic policies and strategies.
Challenges in Employment and Investment
Job crisis acknowledgment and the government's stance on unemployment emerged as critical points of discussion post-budget. The challenges of job creation, especially in light of failed promises and ineffective policies, highlighted deeper issues like educational shortcomings and the role of governments in employment generation. Initiatives like PLI schemes raised debates on their impact on job creation and the need for coherent economic strategies.
Investments, employment, and consumption are the three burning issues facing India in 2024. Did the government’s latest fiscal budget deliver on all three? At a deeper level, should a fiscal budget solve problems on these aspects? You have read, seen and heard all the immediate analysis and number crunching around Budget 24. Listen in for a deeper analysis of what lies beyond these numbers, the allocations, the promises and the balancing. Can the government really create jobs? Have PLIs been successful? Should we worry about concentration of wealth, falling FDI and declining govt spend as a percentage of GDP? Should the budget document be fiscally prudent and little else? Join host Arijit Barman as he speaks to economist, columnist and dissector extraordinaire of the Indian economy Swaminathan Aiyar on all this and more.