Did you know that the finance minister's Budget speech has no legal sanctity in India? Yes, there is no provision for the Budget speech under the Constitution of India or any law. It is in addition to what is provided under various laws. Technically, once the FM has presented the three key documents, the Budget exercise is over, says our in-house policy expert A K Bhattacharya, as he explains the important areas that we should focus on while listening to the finance minister's speech.   Given that Finance Minister Nirmala Sitharaman has already said that this will be extraordinary Budget to deal with the extraordinary circumstances, all eyes will be on how she allocates the resources to the most pressing needs of the present time. In the eight and the last episode of Beyond Budget Headlines with AKB, Business Standard’s special podcast series in the run-up to Budget 2021, we are discussing the various elements of the Budget speech, the significance of the different parts of Budget, and key things we must pay attention to.

Every Budget has something to offer for the oil sector. Oil prices have been rising because of global demand amid a stringent environment of regulations. So, what is Budget 2021 going to do for the oil sector? Boosting revenue collection will be a challenge if oil prices rise and the government has to roll back excise duty hikes, says our in-house policy expert A K Bhattacharya. He also points out that the disinvestment revenue that can be mobilised from the oil sector will be a key factor for Budget.   In the seventh episode of Beyond Budget Headlines with AKB, Business Standard’s special series in the run-up to Budget 2021, we also discuss the expenditure side challenges to the Budget, how to boost foreign investment, and opportunities in Budget to boost jobs and growth. Tune in for more

Healthcare and education are some of the important sectors that are usually not given the attention they deserve in India’s Union Budgets. It has been so for many years. But the situation this time is different. At a time when the country – indeed, the entire world – is working to tide over a health crisis presented by the coronavirus pandemic, will Budget 2021 make a departure from the trend and place its expenditure focus on these sectors?   In the fifth episode of ‘Beyond Budget Headlines with AKB’, Business Standard’s special video series in the run-up to Budget 2021, we discuss about the expenditure side of the Budget and look at sectors that have traditionally not been India's top expense areas but are now in the spotlight because of recent developments. The government needs to loosen its purse string in this pandemic Budget and spend more on the health sector, says our in-house policy expert A K Bhattacharya.   Tune in to learn why it's time the government expedited the process to create world-class healthcare infrastructure. Also it might need to spend more on defence, given that the situation along the LAC has not been looking good, says AKB.

The year 2020 was no ordinary year and so the Budget 2021 will also not be an ordinary budget. We have had enough indication from the government that the public spending momentum will continue and fiscal deficit will not be a big cause of worry for the Finance Minister. But what should Budget do to boost investment and spur economic recovery? Don't underestimate the importance of increasing investment, says Business Standard's in-house policy expert A K Bhattacharya, as the demand recovery will require more investment to be made.   Tune in to the podcast to learn why shrinking tax base is a huge challenge and bank recapitalisation is the need of the hour.

Finance Minister Nirmala Sitharaman has been saying that Budget 2021 will not be like any other before. What might that mean? Coming against the backdrop of a pandemic that has, arguably, wrecked the economy like never before, it could mean she has more big-ticket relief measures up her sleeve. But it could also mean, says Business Standard's in-house policy expert A K Bhattacharya, that she is preparing the nation for something unpleasant -- something like a one-time Covid tax to raise additional funds to push through more spending and help expedite economic recovery. Tune in to this podcast to also learn which big schemes could get more funding and which the axe, and if setting up multiple bad banks would be a good idea.

Many think that the Narendra Modi government has spent a lot this year, especially to mitigate issues faced by people in the wake of the coronavirus pandemic. But has it? It’s true that the government has announced stimulus packages to the tune of Rs 30 trillion. But if one were to make a like-to-like comparison, the govt expenditure this year (till October-end) was at roughly the same level as that seen in the same period last year. Given that expenditure was budgeted to be 13 per cent more this year, it is imperative that the finance minister spend more to expedite economic recovery. But where should she spend? Infrastructure, many say. Yes, of course the government should spend on infrastructure, but will that yield immediate benefits?  A priority for the government art present should be investing in small-gestation projects for immediate rewards, says Business Standard Editorial Director A K Bhattacharya in this second episode of our special video series, Beyond Budget Headlines with AKB. Watch this video for his take on fiscal deficit target, govt expenditure, disinvestment, and more. In the first episode of the series, Mr Bhattacharya assessed whether Finance Minister Nirmala Sitharaman’s Budget 2021 will be a pandemic Budget or lockdown Budget.  Tune in for more

Finance Minister Nirmala Sitharaman’s Budget 2021 is set to be one of the most important Budgets in India’s history. Even if the economic growth was flagging for a couple of quarters before the coronavirus struck, the pandemic and the nationwide lockdowns to contain its spread dealt a body blow to economic activities. Coming as it against this backdrop, the Budget will be keenly watched by all for more policy moves to prop up the economy.    In the first of a series of videos in the run-up to the Budget, Business Standard Editorial Director A K Bhattacharya gives his expert views on what to expect from this Budget. Tune in for more