A brief glimpse of economic history as seen through Indian budgets Politics By Other Means looks at how budget decisions are made, how politics influences budgets and some of the historic budgets that have altered the Indian political and economic landscape since 1947. A snapshot of the political context of budgets as well as the changes brought about by past budgets, the book is a welcome addition to popular economic literature.
The title in itself is extremely representative of the entire book. The author has done excellent work of summarizing the politics behind the presentation of the Union budget. As the history of independent India unfolds, the budget transforms from merely being an economic tool to being a political force to reckon with. He also emphasizes the various opportunities lost by the State in getting its house in order. Recommended to anyone interested in politics and economics!
This entire review has been hidden because of spoilers.
TCA Srinivasa Raghavan has done a commendable job in presenting the various "pathbreaking" as well as not-so-pathbreaking budgets of India.
Unlike in many high- and middle-income countries, the Annual Budget is an Indian festival which is awaited with bated breath by people and companies alike. Populism, fiscal irresponsibility and appeasements have become hallmarks of the Indian political scenario, more so on Election years.
Nevertheless, this bite-sized read is a good primer before delving further into the complex maze of Indian economy and the jargons associated with it. This book can certainly help the readers to understand the 1st February edition of The Economic Times to some extent.
It is a rather small book that gives us a brief idea of budgets in india and a predominant reason for budget deficits that ballooned over the years. While it is not a comprehensive read in itself, as the author himself points out, it certainly is a interesting read and a rather knowledgeable one if one wants to analyse.
A summary of important budgets that have been presented by various Finance Ministers in India with an overarching framework of how Keynesian economics is essentially flawed. Good read for the expert and the novice alike