When India became independent, most people were abysmally poor and illiterate. The first Union Budget envisaged a revenue of Rs 171 crore and expenditure of Rs 197.4 crore, of which defence took away Rs 92.7 crore. After budgeting for rehabilitation of refugees, food subsidies, interest payments, administration expenses, capital expenditure, etc, the money available for nation building activities such as education, medical, public health, running of scientific institutions and scientific surveys, aviation, broadcasting, etc, was only Rs 12 crore. We have come a long way since then and trade policy has played an important role in this journey.
Considering
Considering
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