Number Theory: Fiscal prudence and its fallout on the Centre's political capital

This is the last of a two-part pre-budget series. The first part looked at government’s tax performance in the last 10 years.

The first of this two-part per-budget series looked at the tax performance of the Modi government in the last 10 years and argued that the post-pandemic performance had achieved a creditable performance of increasing the tax-GDP ratio without resorting raising the indirect tax burden. The concluding part of this series will look at the spending pattern of the government between 2019-24 and explore its possible political economy fall out.

Union finance minister Nirmala Sitharaman. (HT Photo)