Nirmala Sitharaman On Why Budget Had No Fine Print |NDTV Profit Exclusive
The Prime Minister desired the budget to be transparent. This transparency is not just in the language but also in how the Ministry of Finance is being run, she said.
Finance Minister Nirmala Sitharaman emphasised the government's commitment to clarity and transparency in the 2024 Union Budget in an interview with NDTV Profit, reflecting a significant shift from the traditionally complex budget presentations of the past.
"It is a challenge to craft the language of the budget. Anyone should be able to understand what you say," she said.
The Prime Minister wanted the budget to be transparent. This transparency is not just in the language but also in how the Ministry of Finance is being run, the finance minister said, underscoring Prime Minister Modi's vision to bring forth budgets that do not have any 'fine print' attached.
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The budget used to be an enigma for most people, Sitharaman said.
"I remember the budget document being so complex that people would spend hours analysing it. In the South, Nani Palkhivala would come and explain it. His sessions in Mumbai became so popular that they had to move to a stadium to accommodate the crowd," she said.
Palkhivala's interpretations were often referred to as the 'budget of the people', because they made the official budget understandable to the common man.
"The objective is to have no fine print. Everything you have to state, you state upfront. Later on, when you do minor amendments, that should be after taking feedback," she said.
