Another budget has just been announced. The budget speech was one hour and 25 minutes long. This was the one thing I liked. The only thing. It’s still not ideal. What’s the point of these long speeches? Longest budget speech ever in the Indian Parliament has been over 2 hours and 42 minutes, by Nirmala Sitharaman herself, in 2020. In fact, some of the Godi media anchors were sounding a little apologetic that she didn’t catch up with or exceed her own record in terms of the length of the speech.
Does anyone really listen to it? No. Is there any meaningful discussion to be had, based on the long, tedious ramble? Again, no. The treasury benches dutifully thump the desks from time to time. Opposition dutifully cries, “Shame, shame.” Then the finance minister does the rounds of TV studios saying what a great budget she’s produced and how it’ll solve every single problem in India. The opposition guys do the rounds decrying how it is anti-poor, anti-this state or this region, and so on.
Here’s my wish list for making things a little more meaningful.
The budget speech should start sharp at 11 AM. Not because Parliamentarians shouldn’t start work at 9.30 like the rest of Delhi but because there’s a lot of briefing and mock question-answer, etc. that need to be gone through by the ministers. The officials also need to be prepared. Having spent a lot of time in the official gallery in the Parliament, I know how hectic these preparations can be.
After laying the budget speech and the details on the floor of the house, the Finance Minister should make the budget speech for exactly half an hour and not a second more. If she exceeds the time, the microphones should be switched off.
This half an hour should be divided into three broad parts of 10 minutes each. The first 10 minutes should be devoted to a maximum of 10 schemes announced in the previous budget and the achievements against that. The second 10 minutes should detail at least five and not more than 10 thrust areas for the new budgetary year. The last 10 minutes should give the new taxes introduced and old taxes scrapped and a broad overview of how each rupee would be earned and how it’d be spent. Also, what would be likely to be cheaper and what would be costlier. No shero shayari, no grandstanding – those could come on subsequent days.
After this, rather than having any knee-jerk reactions to the budget, the Parliament should adjourn till 3 PM so that the members and their minders can study the budget proposals. There should be meaningful discussion thereafter only till 5 PM, with at least five questions allotted to the LoP or the leader of the largest party.
That’s it for budget day. All the major discussion should take place on subsequent dates.
The stock market should be closed on budget day to avoid rigging/ spot-fixing, influencing the sentiments, etc..
The budget speech should serve merely as an introduction to the budget statement. Frankly speaking, even if the FM takes three hours over it, she can’t do more. The Devil and the God lie in the details. As soon as the speech starts, the entire budget statement and the tables should be made available on the Finance Ministry website – the tables should be in both PDF and machine-readable form so that the data can be analysed quickly. [There can be a disclaimer that if there’s a conflict between the PDF and the machine-readable format, the former would prevail.]
The idea of the budgets should be make the budget progressively irrelevant.
One last thing – all that drama about halwa
making and feeding the FM dahi-chini, etc. should stop. If we want to be a
mature nation, we should behave like one. According the budget less importance and
symbolism would truly be getting away from the colonial yoke, not banning
bandhgalas.






