The mistake some of us make when we talk about the budget…

… is in assuming that government spending can solve all our problems. The government may spend more on education, but that doesn’t mean that Indian kids will get anywhere near the education they should, or that the education system will become better. Our mai-baap sarkar may announce a safety net for workers, but that doesn’t mean that workers will benefit. It may extend the REGB, but that doesn’t mean that it is doing anything to enable the growth of employment in this country. In some cases, it might actually be harming the cause of those it claims to benefit, by spending money inefficiently that, had it never been taxed in the first place, would have done more good for the economy.

Beyond that broad point, I will offer no comments on the budget—there’s enough of it out there in the MSM already. I’m just glad there isn’t a cess on blogging.

Additional notice: My “Thinking it Through” column won’t appear today in Mint, because they needed the space for budget analysis, some of which is very good. Regular service resumes next week.