Ad Here  
July
August
September
October
November
December
 
 
Salem steel waiting for its sheen He took public sector to commanding heights... Editorially reinforced and redesigned A culture of R&D... Hand composing to desk top publishing… When cooperatives pushed out private dairies... When Eicher bites the Bullet... The unreal estate Budgets through the years… The white trigger at Erode This foray into economic journalism... When comes such another! Remembering SV Kurien visits Erode... Where a co-operative paid bonus; helped eradicate caste bias... The years of consolidation, second bomb, and hope Takeover tycoons... The green years When feedstock change worked havoc... The slippery story of crude Music, music everywhere… How Chennai missed the bus? (rail!) Hanuman jumps in auto, electronic technologies Birth of IE The sea change The rise, fall and rise of India Cements Major storms during the explosive years MY LOVE FOR AGRICULTURE The rise and fall of the Madras Press Club Rise and fall of PVN... Travails and thrills... From the very beginning Green Jubilee for agricultural research When fertilizer production shifted to North and West... Mrs Gandhi storms back, MGR unshaken in his fortress Power progress
 
Budgets through the years…
The 15 March 1968 issue with which IE commenced publication, started with a detailed analysis of the budget presented for 1968-69. Thus, in our annual issues released in March, coverage of budget became an important feature.
THOSE WERE DAYS of economic journalism. The financial journals focused sharply on the budget and its implications. In P R Srinivas, former editor of Indian Finance, who worked with IE for a decade, economist Dr P S Lokanathan, the renowned stock broker Chitra S Narayanaswamy and P A Seshan of The Hindu provided rich material analysing the nuances of the budget. IE and myself benefited through these interactions and developed keen interest in fiscal issues. These expanded manifold from 1973 when IE was invited to attend the annual Economic Editors’ Conference organised by the Press Information Bureau. The three day conference inaugurated by the Union Finance Minister, followed by interactions with over a dozen ministers and other policymakers handling economic portfolios, used to be organised in mid-March soon after the presentation of the budget. Thus it provided a good opportunity to discuss the implications of the budget with policymakers and also with senior economic editors.

A tool to raise resources…

The controlled economy with severe limitations of resources and suffering acute shortage of foreign exchange, used the budget as a tool to raise resources. Tax proposals thus had a serious impact on prices. Intense lobbying for concessions or moderation was also the order of the day. Speculation and hoarding of commodities and products used to be rife before the budget. This was more widespread in the commercial capital Mumbai and the commodity metro Kolkata.

 For long, the portfolio of finance ministry was entrusted to political heavyweights like Morarji Desai, Y B Chavan... We also had these interspersed with leaders of keen finance acumen like Dr C D Deshmukh,T T Krishnamachari, Sachindra Chaudhuri, C Subramaniam and H M Patel. These vested the budget with a great deal of innovation.
1 2 3
Author :
Reported On :
Sector :
RELATED NEWS
ABOUT IE
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com