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Ever wondered if election-year budgets are always about quick wins and populist spending? In the lexicon of political economy, it’s a common theory – the “political business cycle” – where incumbents almost invariably ramp up populist spending to secure immediate electoral dividends.
But hold on, because the Union Budget 2026-27 seems to be writing a different story! In a landscape often dictated by short-term electoral arithmetic, particularly with crucial state elections on the horizon in places like Tamil Nadu and West Bengal, the government has shown a truly rare display of “strategic restraint.”
Instead of succumbing to the usual temptation of fiscal profligacy, they’ve chosen a path less trodden. This isn’t just news; it’s a fascinating case study in balancing immediate political pressures with a vision for the future, defying the theoretical inevitability of the political business cycle.
Source: Original Article
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