Forthcoming Budget: Not an Annual Bargain Sale of handouts but Pronouncement of Direction and Priorities of Economic Policy

The Budget Speech has become a major landmark in the nation’s calendar. It is much more than the government’s income and expenditure statement for the forthcoming fiscal year. It is much more important as an indication of the direction and priorities of government economic policy. As such, a Budget Speech becomes an important determinant of investor confidence, both domestic and foreign. In the modern world, where the domestic and international economic landscapes change very quickly, economic management is a continuous task. It is not uncommon for fiscal measures to be introduced at various times of the year to stabilize or boost the economy.