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Breakthrough Budget
There was no dearth of pundits suggesting major reforms on the lines of 1991 in the budget for 2015-16. These pointed to several favourable factors like the majority commanded by the BJP in the Lok Sabha, the steep fall in the price of crude and the comfort on the prices front, to name just a few. Still the railway budget and Central budgets both opted to consolidate the gains and have opted to work for the longer term vision for growth that will be solid and sustainable. Thus there were no big bang reforms or disruptive growth plans that would provide for high decibel media bytes.

The task of Arun Jaitley was by no means easy: just a couple of  days earlier the recommendations of the Fourteenth Finance Commission (FFC) were unveiled. The Y V Reddy led commission suggested an unprecedented ten per cent increase in the devolution of Centre’s tax revenues to the states – from 32 per cent to 42 per cent. Adhering to the party’s

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