1. This word comes from the French word for leather pouch or bag. The present connotation of this word is from the notion that the treasury minister would usually keep his fiscal plans in such a bag. Which term?
2. He was India’s finance minister between 1947 and 1949. On 26 November 1947, he presented what is considered the first budget of independent India, which was primarily a review of the economy. Who was he?
3. The Tamil poet, whose statue at Kanyakumari is shown below, is frequently quoted by an Indian finance minister in his budget speeches. Who’s the poet? Who’s the finance minister?
4. This person was well known for his public analysis of the Union budget in Mumbai. His first post- budget analysis speech was at the Green’s hotel in 1958. Soon, his analysis became so popular that the Brabourne stadium had to be used as a venue for his analysis lectures. Who?
5. What common distinction is held by Morarji Desai, Chaudhary Charan Singh, VP Singh and Manmohan Singh?
6. This term in macroeconomics is a measure of net outflow of all payments from an economy. A sharp deterioration in this was one of the major triggers for the economic liberalization in India that was announced in the 1991 budget. What term is this?
7. In his 2004 budget speech, P. Chidambaram uttered a three-word phrase, which was also the name of a popular 2004 Hindi movie. He uttered this phrase to indicate that people should continue to trust his commitment to economic reforms with a human face. Which phrase, or which movie?
8. During the 2002-03 budget, Yashwant Sinha, while speaking of incentives in the budget for the growth of the entertainment industry, made a reference to the name of a 2001 Hindi movie to indicate that the policy would bring more joy to the entertainment industry. Which movie did he refer to?
9. What term was used to describe India’s Union budget for 1997-98, which is largely credited with laying down the road map for economic reforms in India? Which company?
2. R.K. Shanmugham Chetty
3. Thiruvalluvar, who is frequently quoted by P. Chidambaram
4. Nani Palkhivala
5. Finance ministers who went on to become prime ministers
6. Balance of payments
7. Main Hoon Na
8. Kabhi Khushi Kabhi Gham. Yashwant Sinha spoke of ‘more khushi and less gham’
9. Dream Budget