 "Budget image via Shutterstock.")
The hype and hoopla associated with the Union Budget in India is perhaps unprecedented anywhere in world. There are perhaps two reasons behind it. First, in most of the advanced countries there is no necessity to tinker with tax rates (direct or indirect) or exemption limits at regular annual intervals - these are already at their stable rates. Second, no major fiscal policy measure needs to wait a certain day in the year to be announced - depending on the situation these measures can be implemented as and when necessary.
However, the Indian Union Budget is an exception. It is seen
