The Indian Budget Story

'I have seen many such items in almost all budgets—they have ranged from ‘agarbattis’ to ‘bindis’ to vests, and God knows what else, over the years. And I wonder why? Why do we have these strange items in the budget? Are they really worth it? And what about that whole notion of a simple tax regime that is moving towards uniformity of rates? Look at the range of items which are being exempted from indirect taxes in this Budget—cold storages, transporting cereals and pulses (but not fruits and vegetables), corrugated boxes, latex rubber thread. And the list goes on.

The whole point of tax reforms is that we must stop fine-tuning taxes. And we in the past have seen the benefits that come with simplicity. But somehow, India’s most important annual economic event is full of subtext that is either nonsensical, or a farce, or both. And it is not just this Budget. Pick up any one over the last two decades, and you will see the same story.'

- Laveesh Bhandari, 'Enjoy the nice, safe Budget'.