The Times of India

History of Indias Union Budgets - Some Budgets that became blueprints for institutional change

Union Budgets are often treated as routine fiscal announcements, yet in recent four decades they have quietly reshaped taxation, regulation and economic policy. Why did finance ministers repeatedly use the Budget to dismantle the licence raj, build market institutions and enforce fiscal rulesand why does that legacy still shape Indias political economy today? The answers lie in how the Budget became a tool of structural reform.