SINCE Piyush Goyal tabled the interim budget before parliament earlier this year (February 1, 2019), the Lok Sabha elections giving the Modi government an almost certain additional five years in office is not the only development. In addition to the reality of deepening agrarian distress and grim employment situation that were known even then, at least three other mutually related hard facts relevant to the finalisation of the budget for 2019-20 have also become known since, being acknowledged even by the Economic Survey.

ONE of the most startling aspects of Finance Minister Nirmala Sitharaman’s speech is that it did not provide the numbers that are the basic reason for having a budget speech in the first place: the numbers relating to overall revenues and expenditure of the government, either for the previous year or for the current year. This was widely commented on, and the FM’s response was that all these numbers are available in the supplementary material provided in the budget documents, so there is no need to go into them in the speech.