Everything, everywhere, all at once. There is a method in the spend-big-or-go-home madness that the finance minister has reiterated her faith in with the Union Budget 2023, even though a lot of it rests on hope.
Nirmala Sitharaman’s budget, the last full one before the Lok Sabha elections next year, was a no-holds-barred buildup on spending from her own previous budgets (and the super budget that was lockdown’s ‘Atmanirbhar Bharat’ stimulus measures). While a whole lot of government spending last year was primarily in infrastructure like roads and ports, the largesse now has a wider arc—agritech, affordable housing, green energy, railway, airports and even helipads.
“This budget injects new vigour into India’s development trajectory, [it] will realise the dreams of an aspirational society that includes poor, middle-class people and farmers,” said Prime Minister Narendra Modi, shortly after Sitharaman tabled the budget in Parliament.
FOLLOW THE MONEY
In the run-up to the budget, Sitharaman had two paths before her—continue with the spending pattern or get conservative in controlling the runaway fiscal deficit (the gap between what the government earns and what it spends). The pandemic had seen the fiscal deficit shoot up to nearly 10 per cent, while the fiscal responsibilities rules limit was 3 per cent.
この記事は THE WEEK India の February 12, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は THE WEEK India の February 12, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Indira's Bang
How Indira Gandhi secured the borders, ended food import, before going for the test
Who's Afraid Of A New Nuclear Doctrine?
It has been 50 years since Pokhran I. With its capabilities increasing and global power equations changing, does India need to look at reviewing its nuclear doctrine?
I don't think things will change because of the win
When independent filmmaker Payal Kapadia’s All We Imagine As Light scripted history by winning the Grand Prix at the 77th Cannes Film Festival, it was not just a proud moment for the film's team, but also a triumph for the collective aspirations of women across the country.
Sid for kids
As a child, Sidhartha Mallya wished he had someone in his life to tell him what he wants to convey in his latest children's book, Sad Glad
Ready to roll
Following the Pokhran tests, India has operationalised a credible deterrent that the nation should be proud of
Breaking nuclear apartheid
How India protected its ability to move ahead with the nuclear weapons programme despite not signing the NPT
Power point
The Pokhran tests launched India's march towards being a full partner and participant in the global nuclear order
Shock and awe
India’s comprehensive capability in the nuclear domain is the result of its autonomous pursuit of the atomic programme against all odds
Spied on none, stole from none
A senior scientist during the Pokhran test in 1974 and chairman of the Atomic Energy Commission during the tests in 1998, Dr Rajagopala Chidambaram has been a key figure in the Indian nuclear journey.
Leader with a difference
ARVIND KEJRIWAL'S RETURN TO JAIL APPEARS IMMINENT. BUT HIS BLISTERING POLL CAMPAIGN MAY HAVE BRIGHTENED INDIA BLOC’S PROSPECTS