The Union Budget, in plain words, is just that: the central government’s statement of inflow and expenditure for the next financial year. It is not supposed to be a life-changing event for you. Having said that, the Budget does assume significance and people look forward to it. The reason is, the finance minister may have some announcements that are relevant for us. It could be changes in personal tax rates or some other change in regulations impacting us. And, of course, the way the economy is moving, Budget measures influence many factors that impact us indirectly. This time, the Budget has nothing important on the personal tax front. However, from the overall economy perspective, there is a thrust on growth, and the equity market has reacted positively to that. The government will spend more than earlier on capital expenditure, which will create capacities for future and help develop the economy. However, the Budget proposals have not been great for the debt market. Let’s see what has happened.   In every Budget, the government projects the income and expenditure...