One of the intended objectives of the Union Budget 2017-18 is to ‘transform, energise and clean India’. Analyse the measures proposed in the Budget 2017-18 to achieve the objective.
Subtopic: Indian Economy · Union Budget and public finance
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Written within the word limit
195 words · target 250 words · 14 min
The Union Budget 2017-18 organised its agenda around the theme 'Transform, Energise and Clean India' (TEC India), aiming to change governance, energise vulnerable groups and cleanse the economy of corruption and black money. It was notable for merging the Railway Budget and advancing the Budget date to 1 February.
Transform
- Governance and efficiency reforms, digitisation of the economy, and a thrust on infrastructure with a record capital outlay.
- Push for a less-cash economy through BHIM and digital payments to formalise transactions.
Energise
- Focus on youth, farmers, the poor and the underprivileged: higher agricultural credit, crop insurance under PMFBY, and rural spending including MGNREGA.
- Skill development, affordable housing granted infrastructure status, and expanded social spending.
Clean
- Measures against black money following demonetisation: a cap on cash transactions and steps to curb cash donations to political parties through electoral bonds.
- Transparency in political and economic transactions and widening the tax base.
Assessment
The Budget signalled intent on formalisation, rural welfare and cleaner politics, but outcomes depended on implementation, the disruption from demonetisation, and revenue realisation.
Conclusion
Budget 2017-18 aligned expenditure with its TEC objectives, laying groundwork for a more formal, inclusive and transparent economy, though delivery on the ground was the real test.
What an examiner expects to see
- Budget 2017-18 theme: 'Transform, Energise and Clean India' (TEC)
- Merged Railway Budget with General Budget; advanced date to 1 February
- Transform: governance reform, digitisation, record infrastructure capital outlay
- Energise: farmers, youth, poor — higher farm credit, PMFBY, rural and housing spend
- Clean: cap on cash transactions, electoral bonds, curbs on black money post-demonetisation
- Affordable housing granted infrastructure status to spur investment
- Effectiveness hinged on implementation and revenue realisation
Concrete cases, schemes and judgments
- Merger of Railway Budget into the Union Budget from 2017-18
- Cap on cash transactions above a threshold to curb black money
- Electoral bonds introduced for political funding transparency
- Affordable housing granted infrastructure status; PMFBY crop insurance