A COMPREHENSIVE STUDY ON
FISCAL POLICIES AND
SOCIO-ECONOMIC OUTCOMES:
ANALYZING INDIA’S UNION
BUDGETS (2014-2024)
Prakriti Agarwal
121322085037
BMS 3
INTRODUCTION
Definition and Role Focus on 2014-
1 of Fiscal Policy
3 2024 Budgets
Significance of the Purpose and Scope
2 Union Budget
4 of Study
OBJECTIVES OF THE
STUDY
To analyze and present the essential features of the budgets of India
directly from 2014 to 2024 for comparison between the variations in
expenditure, revenue and fiscal deficit.
To evaluate the effectiveness of major fiscal policies that were
implemented during this period on economic growth and social welfare.
To identify the impact of budgetary prioritisation on economic
development as well as socio-economic challenges.
To examine the impact of the global economic environment and
domestic political forces on budgetary choices.
To predict possible future trends of India's budgeting policies along with
their prospects of economic growth.
IMPORTANCE OF THE STUDY
Addressing
Understanding Informing Future
Socio-Economic
Policy Impact Fiscal Strategies
Challenges
RESEARCH METHODOLOGY
Source of Size of the Concept Statistical
Secondary Data Sample Selected Measures used
• Ministry of Finance The study covers Union Interaction between The study uses trend
• Reserve Bank of India Budgets from 2014 to Fiscal Policies and analysis and comparative
(RBI) 2024 Socio-Economic evaluations to establish
• Economic Survey of India Outcomes relationships between
• Research Papers fiscal policy decisions and
• News Articles socio-economic
outcomes
LIMITATIONS OF THE STUDY
Reliance
Time
on Secondary Data Lag in Policy
Time Horizon Complexity of Impact
Restriction Policy Impact
HIGHLIGHTS OF
CHAPTER II
Role of Fiscal Policy in Significance of the
Socio-Economic Union Budget
Development
Evolution of Fiscal Major Fiscal Reforms
Policies Post- (2014-2024)
Independence
Advantages of Fiscal Disadvantages of Fiscal
Policies Policies
Fiscal Policy Trends
HIGHLIGHTS OF CHAPTER III
2015 2018
2016 2017
2014
• Enhanced • GST
Revenue Collection • Digital India Implementation
• Sector-Specific • Boost to Initiatives • Tax Base
• Fiscal Consideration Allocations Manufacturing & Services • Preparatory Expansion
• Tax Administration and • Fiscal Deficit • Tax Administration Measures for GST • Economic
Revenue Reforms Management Reforms • Inclusive Growth Rebalancing
• Expenditure Prioritization • Policy Reforms & • Social and Infrastructure & Social Welfare
• Economic Liberalization Liberalization Investments • Fiscal Discipline
• Policy and Economic & Economic
Outlook Liberalisation
• Consolidation of
• Pre-Crisis Preparedness COVID-19
• Balanced Fiscal Expansion Recovery 2023 &
• Social Welfare
• Infrastructure and Human
Programs
2024
Capital Investment
2021 • Global Economic
2019
• Responsive Policy Formulation
Alignment
• Future-Oriented
Reforms
• Post-GST Adjustments 2020 • Emergency Fiscal Measures
• Economic Stimulus Packages
• Sustainable
Growth and Green
• Targeted Sectoral Stimulus
• Social Welfare Programs
• Revised Revenue Projections
and Fiscal Adjustments
2022 Economy
• Enhanced Public
• Fiscal Discipline and Deficit • Social Welfare Enhancements Debt Management
Management • Influence of Domestic and • Digital and
• Global Economic Global Factors Technological
Considerations
Transformation
FINDINGS
Evolution of Fiscal Impact on Revenue
Policies and Generation and Tax
Priorities Administration
Influence of Global
Sectoral and Social
and Domestic
Expenditure Trends
Factors
Forward-Looking
and Sustainable
Growth Measures
CONCLUSION &
SUGGESTIONS
Enhance Fiscal Sustainability
Promote Inclusive and Sustainable Growth
Strengthen Revenue Collection and Tax
Administration
Enhance Policy Responsiveness
Foster Inter-Governmental Coordination
Focus on Long-Term Capacity Building
THANK
YOU
