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Budget 2023: Why the budget should become a non-event

In the US, the most successful capitalist nation on earth, there is no special budget day speech, no attempt to make a spectacle out of it

January 25, 2023 / 12:20 PM IST
Budget 2023: Why the budget should become a non-event

It’s time to break tradition with this practice we inherited from our imperial rulers and start building towards the India we now want to be--- a thriving developed economy

Let me paint you a picture. It is 11.36am on February 1st, 2023. The honourable finance minister in her budget speech remarks on increasing allocation to solar powered pumps. Two seconds later, as market participants hear this, the stock price of Solar Industries soars by 7%. Solar Industries, India’s largest explosive manufacturer whose largest client is Coal India. Solar Industries has no connection to solar power barring the word Solar in its name. This is not fiction--it has happened...

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