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Early Union Budget highlighted tax relief as India entered republic era
Historical budget measures show how tax cuts shaped India’s early economic direction.
India’s early Union Budget focused on income tax reductions and higher public spending to stimulate growth as the nation transitioned into a republic. The government aimed to boost consumption encourage savings and support industrial expansion through fiscal measures. Historical records show policymakers used tax relief infrastructure investment and deficit tolerance to stabilise the economy during post independence uncertainty and lay foundations for long term development