Union budget’s false dilemma4 min read . Updated: 30 Jan 2017, 04:07 AM IST
In budgets over the years, there has been a decline in the share of capital expenditure to total expenditure
The tears that politicians of different hues shed for the poor and the underprivileged make an average citizen extremely cynical. At the risk of caricaturing, after every budget the plethora of opinion that one tends to hear could perhaps be segmented into two corner positions: (a) this budget is a populist budget catering to vote-bank politics; and/or (b) this budget looks into the needs of long-term investment and is a growth-oriented budget. Is such branding the result of a false dichotomy? Are there fiscal measures that could be populist but still capable of generating long-term investment? Such questions often remain unanswered.