The Budget podcasts from ‘Mint’
In the first of this series, Mint's Editors discuss different aspects of Budget 2016 and analyse its political and economic ramifications
Welcome to Mint’s Budget-special podcasts. In the first of this series, Mint’s Editor R. Sukumar, Mint Money Editor Monika Halan and Deputy Managing Editor Anil Padmanabhan discuss different aspects of Budget 2016 and analyse its political and economic ramifications.
Budget as a political tool
According to Sukumar, the budget is a policy instrument and not a political tool. It is a clear articulation of the government’s policy as well as its efforts to focus on certain areas. For instance, in the last budget, the emphasis was on start-ups and improving ease of doing business. So the budget is not merely a financial exercise, but a policy instrument. Padmanabhan and Halan too expressed their views on politics of the budget, saying that it is critical since it is the one time in the year when the government gives a direction to its basic economic policy. In doing so, the budget is a platform to push out its economic agenda.
Can budgets help win elections
All three were of the view that a budget by itself cannot win or lose elections for a party. It is what you do with the budget eventually that determines a party’s fate in the polls.
The budget and the middle class
The Indian income-tax payer has an exaggerated opinion of herself was the general consensus, as only a minuscule 8-9% of the government’s revenue comes from income taxes.
A wish for the FM
All three were unanimous that the budget should be short and clear. The finance minister should not make too many changes and he should articulate what is necessary, and not merely the intent.
Listen in to the entire podcast:
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!