The annual budgets have never been occasions for Prime Minister Narendra Modi to make grand economic policy statements. The eight presented by three finance ministers since FY14, Arun Jaitley, Piyush Goyal and Nirmala Sitharaman have not therefore been the templates to set the directions for government policies in each year.
Jan Dhan Yojana, Ayushman Bharat, or Prime Minister’s Awas Yojana were not first set out in the budgets. Public sector bank mergers, demonetisation, GST or even the mega slashing of corporate tax rates have all happened outside the budget speech. The budgets for each year simply incorporated these announcements into