Union Finance Minister Nirmala Sitharaman, ahead of presenting her seventh consecutive Budget, posed with a tablet wrapped in a ‘bahi-khata’ styled pouch, signaling the presentation of the Budget documents. This tradition marks the continuity of the NDA government’s distinct approach to budget presentations. Sitharaman, dressed in an off-white saree with a magenta border, was seen leaving the Finance Ministry, accompanied by MoS (Finance) Pankaj Choudhary and their team of officials, en route to Parliament.
Historical Context of Budget Presentation
Abandoning Colonial Legacy
Traditionally, the Indian Budget documents were carried in a briefcase, a practice inherited from colonial rule. In 2019, the NDA government, led by Prime Minister Narendra Modi, decided to abandon this colonial legacy. Nirmala Sitharaman, during her first Budget presentation, introduced the ‘bahi-khata’, symbolizing a departure from the past and embracing Indian traditions.
Transition to Digital Presentation
The Covid-19 pandemic in 2021 prompted another significant change in Budget presentation. Sitharaman introduced a paperless Budget, opting for a tablet enclosed in a traditional red pouch with the National Emblem embossed on it. This marked the first instance of a digital budget presentation in India’s history.
Nirmala Sitharaman’s Journey as Finance Minister
Appointment and Initial Budget
Nirmala Sitharaman was appointed as the Finance Minister after the Narendra Modi-led NDA government returned to power in the 2019 election. She presented her maiden Budget on July 5, 2019, which was closely watched for its emphasis on economic reforms and policies aimed at boosting growth.
Subsequent Budgets and Key Highlights
Over the years, Sitharaman’s Budgets have focused on various sectors, including healthcare, agriculture, infrastructure, and digital economy. Each Budget has been crafted with the aim of driving economic growth, enhancing social welfare, and positioning India as a global economic power.
- Healthcare Sector
- Increased allocation for healthcare infrastructure.
- Introduction of new schemes to tackle pandemics and other health emergencies.
- Agriculture Sector
- Implementation of policies to support farmers.
- Emphasis on doubling farmers’ income by 2022.
- Infrastructure Development
- Significant investment in road, rail, and air connectivity.
- Promotion of sustainable urbanization.
- Digital Economy
- Encouragement of digital transactions.
- Support for startups and innovation.
The Significance of the ‘Bahi-Khata’
Symbolism and Cultural Significance
The ‘bahi-khata’ holds significant cultural value in India. It represents traditional account-keeping practices and is a symbol of honesty and transparency. By adopting the ‘bahi-khata’, Sitharaman aims to reinforce these values in the context of national economic management.
Modernization and Tradition
The blending of the traditional ‘bahi-khata’ with modern technology, as seen in the tablet wrapped in a ‘bahi-khata’ styled pouch, symbolizes the government’s commitment to modernization while staying rooted in Indian traditions.
Public and Expert Reactions
Public Sentiment
The public has responded positively to Sitharaman’s innovative approach to Budget presentation. Many see it as a reflection of the government’s willingness to embrace change while respecting cultural heritage.
Expert Analysis
Economic experts and analysts have lauded the move towards a digital Budget, citing increased efficiency and reduced environmental impact. The symbolic use of the ‘bahi-khata’ has also been praised for its cultural resonance.
Challenges and Future Outlook
Economic Challenges
Despite the positive reception, Sitharaman faces several economic challenges. These include managing fiscal deficits, addressing unemployment, and ensuring sustainable growth amidst global economic uncertainties.
Future Initiatives
Looking ahead, the Finance Minister is expected to introduce more reforms aimed at revitalizing the economy. This includes focusing on renewable energy, digital transformation, and enhancing global trade relations.
Nirmala Sitharaman’s presentation of the Budget with a ‘bahi-khata’ tablet is a significant moment in India’s economic history. It reflects a blend of tradition and modernity, symbolizing the government’s approach to economic management. As she continues to navigate complex economic landscapes, her innovative and culturally resonant methods are likely to leave a lasting impact on India’s fiscal policies and economic trajectory.
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