Foundational Economics for Analyzing the Indian Union Budget

Many people find the annual Union Budget opaque and complex, filled with confusing jargon and dense financial tables. This course demystifies the official budget documents by grounding you in the essential micro and macroeconomic principles that drive government finance. You will move from being a passive observer to an informed analyst of India's fiscal direction. What you'll learn: * Understand the structure of the Union Budget, differentiating clearly between revenue, capital, and expenditure accounts. * Analyze key fiscal indicators like fiscal deficit, primary deficit, and revenue deficit, and their economic implications. * Apply foundational microeconomic concepts like taxation, subsidies, and market failures to government policy decisions. * Interpret the framework, targets, and objectives set by the Fiscal Responsibility and Budget Management (FRBM) Act. * Master the classification of government expenditure, including plan vs. non-plan and current vs. capital expenditure. * Practice reading and interpreting the official budget documents, tables, and related economic survey summaries. The course begins with core definitions and the flow of public finance, moving systematically through revenue generation, expenditure classification, and the management of government debt. Practical exercises focus on interpreting real-world data and policy statements based purely on written explanations and figures. This course is designed for absolute beginners interested in public finance, economics students, and citizens who wish to understand how the Indian government manages its money. No prior knowledge of economics or finance is required. Start reading the budget like an expert today.