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The tightrope walk: Fiscal policy and deficit management

Countdown to Budget — 3

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Every Union Budget is more than a statement of accounts. It is a declaration of intent: about whom the government prioritises, how much risk it is willing to take and how it balances today’s needs with tomorrow’s obligations. At the heart of this balancing act lies fiscal policy and deficit management, the true “bread and butter” of the Budget. For students of economics and civil services aspirants, understanding deficits is not about memorising numbers alone. It is about grasping the philosophy of governance under resource constraints.

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