April 04, 2017 @ 01:15 PM

April 04, 2017 @ 01:15 PM

K. J. Somaiya Institute of Management Studies and Research, Mumbai

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Interim budgets must not be influenced by ballot

Few of B schools and even new IIMs have replaced GD with WAT hence, Written Ability Test has also become a tool to test MBA aspirant on assessing overall communication skills and personality, so it is also equally important and crucial component of MBA admission process.
Develop points for discussion and read WAT topic:  
Interim budgets must not be influenced by ballot
Many people in India are familiar with the term ‘ballot-box budgeting’, which refers to the process of making decisions about government budgets through direct democracy. Being the largest democracy in the world, it is important that decisions in India are made after consulting the public; however; this does not mean that every action should be influenced by the public’s vote. Discretion should be exercised in some areas, including the interim budget, where a budget is put in place when the government is going through a transition period. 
Interim budgets are presented when one political party is voted out and another political party is voted into office. More often than not, the two political parties have different fiscal plans and hence, the old government budget is cut short and a new one is put in place. However, due to time constraints, an interim budget is put in place instead of the full budget. Since time is of the essence in such situations, interim budgets should not be put forth based on the results of the ballot. 
An interim budget in any country is created out of necessity and since it is not a full-fledged budget that impacts a country for years, the interim government should quickly decide on the content of the budget and analyze how it would be raising and spending money for a few months. In addition, an interim budget does not contain significant tax-related measures, which is why it is not necessary for the interim budget to take components of the ballot. 
In conclusion, an interim budget, since it is in force for a few months, should not be influenced by ballot. On the other hand, a full-fledged budget, which is put in place once an incumbent government leaves, should take into consideration the results of ballot. This is because the budget will be in force for years to come and it will impact the citizens greatly.
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