Bench Marking the Budget Drivers for Amritkaal

Abstract

The article makes an effort to adopt the fundamentals of Driver Based Budgeting for the purpose of recognising the key drivers of the Union Budget and ventures to evolve the bench marks for the years to come in Amritkaal.

The article considers the key drivers of Indian Budget as:

a. Growth Rate of Gross Domestic Product

b. Tax Revenue

c. Borrowings

d. Interest Payments

e. Revenue Expenditure (excluding Interest Payments)

The article visualises the behaviour and impact of these drivers by analysing their trend for the thirty-three-year period from 1990-91 to 2022-23. Thereafter, it suggests the bench marks for each of these key drivers.

The article puts forth that Key Driver Based Budget, thus, reoriented would certainly be helpful to usher in Atmanirbhar Prosperity