Now, Every Day is A Bud­get Day

The Economic Times - - Front Page -

af­firm, am­plify and con­sol­i­date a se­ries of ma­jor de­ci­sions lead­ing up to the Bud­get.

In many ways, this can be seen as a plus as it re­moves all the at­ten­tion from one oc­ca­sion and gives the gov­ern­ment flex­i­bil­ity on tak­ing eco­nomic de­ci­sions at a time of its own choos­ing. The volatil­ity that has come to be as­so­ci­ated with Budgets over the years is also re­duced. In fact, con­sis­tency may yield bet­ter re­sponse in an un­cer­tain en­vi­ron­ment.

Po­lit­i­cally, how­ever, it un­der­lines a cru­cial power shift in the sys­tem of eco­nomic de­ci­sion-mak­ing. The Bud­get is at the end of the day a par­lia­men­tary ex­er­cise, which is put to de­bate, and has to pass through all rel­e­vant scru­tiny mech­a­nisms. This can slow down


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