Arguably the most significant achievement of the latest budget was realised right at the beginning. The Finance Minister's budget speech is a good example of managing expectations. That task might have been made easier by Pranab Mukherjee's less than flamboyant style, as compared to his immediate predecessor, of delivering budget speeches and the fact that there were few major expectations this time.
It may be a gross overstatement but the Finance Minister's way of functioning does seem to set the level of expectations whenever major economic policy statements are made. Equally important, the fact that there were fewer expectations this time may be due to the growing awareness of economic matters on the part of the man on the street. That, one should think, is a direct consequence of economic liberalisation which has in a major way inducted many sections of the society into the economic process.
People participation
The budget exercise, with its own brand of secrecy and mystification, had enthralled people much before the television age. But other economic announcements — the credit policy (now in four instalments around the year) and even the foreign trade policy — are also keenly watched and analysed nowadays.
Source : http://www.hindu.com/biz/2010/03/01/stories/2010030150441400.htm
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