A LOT HAS CHANGED in a few months, and it was clearly evident in the Modi 3.0 government's first budget.
Union Finance Minister Nirmala Sitharaman presented an interim budget on February 1 against the backdrop of the confidence that the BJP-led government would return to power with a larger majority, and her speech dwelled on the achievements of the BJP's decade-long rule.
On July 23, Sitharaman''s speech presenting the full budget was just 30 minutes longer than the previous one, and conveyed a succinct message reflecting the new political landscape.
With an apparent hint of course correction, the focus shifted to job creation, putting more money in the pockets of the middle class, and giving the rural economy a boost, signalling that the government was sensitive to their distress. According to a survey by the Centre for Monitoring Indian Economy, unemployment rate in India rose sharply to 9.2 per cent in June 2024 from 7 per cent in May. The budget's job pitch may provide relief to the youth and the middle class.
The political intent of the budget outweighed the big-ticket reforms the government had promised before the 2024 polls. But what marks the continuity from the interim budget is the promised fiscal consolidation— with the targeted fiscal deficit going down to 4.9 per cent of the GDP from the 5.1 per cent set in February—and the infrastructure push. Also, the finance minister did not quote any poet, just like the interim budget, and kept her speech short.
Esta historia es de la edición August 04, 2024 de THE WEEK India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición August 04, 2024 de THE WEEK India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Chase For The Mace
The next three years throw up a gamut of challenges for Indian cricket; winning the World Test Championship is the most important
Two-horse race
Can the NC-Congress alliance reshape the future of Jammu and Kashmir?
Man-eaters don't spare women
Critics say Narendra Modi’s decade-long rule has been one of jobless growth. Factories produced more, companies earned more, owners profited more, the government earned more; but fewer hands were hired, or those who were hired got work for fewer days. Putting the last two together, economists said the Indian economy generated fewer ‘man-days’.
Decolonising the mindset
The vision of a Viksit Bharat hinges on India T breaking from the shackles of a colonial mindset and embodying the freedom of being unapologetically Indian. The laws of any nation are the cornerstone of its growth. The legal system offers the stability and adaptability essential for a country to thrive. The laws must be simple to understand and specific in their consequence.
The making of India's Mr Difficult Words
When my publishers at Aleph invited me to put together a book on words and language, I hesitated for a brief moment.
Couture's creepy corridors
If one is spending a summer in New York, any summer in New York, an absolute must-do is to spend an afternoon at the city’s Metropolitan Museum of Art, on the edge of Central Park, just gawking in gobsmacked awe at the annual fashion exhibition the museum’s Costume Institute puts together.
Stree 2 has given us hope
The unprecedented success of Stree 2 is the best news we have had in the recent times and with an unabashedly feminist agenda, has comprehensively out-performed Sandeep Reddy Vanga's toxic masculine star-studded Animal at the box office is (to me, at least) kind of the cinematic equivalent of Awadhesh Prasad winning Ayodhya-it redeems my faith in the inherent decency of Indians.
BRANDS BEYOND RAMPS
Whether through carpets, fragrances or home interiors, Indian couturiers are defying their own limits
RESERVOIR OF WORRIES
India has a robust dam management systém on paper, but inadequate maintenance and climate change pose serious threats
INTER-STATE ISSUES HAVE NO EFFECT ON DAM SAFETY
INTERVIEW: KUSHVINDER VOHRA INTERVIEW Chairman, Central Water Commission