On this India Today special, veteran journalist Rajdeep Sardesai reflects on the evolution of the Union Budget in India, tracing his experience back to 1994. Recalling his early days at NDTV, Sardesai notes, ‘In 1994, I was at NDTV when we were commissioned to do the post-budget reactions’ outside the BSE. He highlights how the post-1991 era brought a unique excitement to budget announcements that persists today, despite the process becoming more ‘mundane’ following major tax reforms. The discussion covers the shift from high-stakes policy changes to the current market preference for stability and the absence of ‘retrospective tax bombshells’. Sardesai also addresses the impact of global geopolitics on the Indian economy, questioning the influence of external leaders on India’s sovereign energy decisions, specifically regarding oil imports from Venezuela and Iran. The panel further examines the feasibility of the government’s disinvestment targets and the long-term roadmap for defense allocations in the upcoming budget by Nirmala Sitharaman.
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