The Union Budget strikes a fine balance between providing a safety net to those reeling under the impact of the pandemic, and ensuring macro-economic stability.
India has rolled out two budgets, and a slew of mini-budgets, amid an unpredictable pandemic situation that saw countries, including ours, go into lockdown. Naturally, a unique emergency situation of this magnitude warranted a one-of-a-kind fiscal response. While rich countries offered large stimulus packages, India took a staggered and calibrated route. With that, India also pushed for large reforms, which many critics snubbed as excessive and out of focus in a flailing economy.