“Honourable Speaker, I present the Budget for 2024-25” 
This is the opening line of the Finance Minister when presenting the budget in the Lok Sabha.

As per Article 112 of the Indian Constitution, the Finance Minister presents the estimated receipts and expenditures of the Government of India for the upcoming financial year, known as the 'annual financial statement,' to both Houses of Parliament. Commonly referred to as the Budget. This crucial document outlines the government's financial plan and priorities.

This means the budget should focus solely on matters related to the specific financial year. Unlike political speeches, which outline broad visions and ambitious plans, the budget is intended to detail concrete financial plans for the particular year. 

However, in recent years, the budget has increasingly resembled these political addresses. In the 2019 budget speech, the Finance Minister discussed the Vision 2022 of Amrit Bharat. In the 2024 budget speech, she spoke about the Vision 2047 for a Viksit Bharat.
Piyush Goyal's Budget Speech, February 1, 2019

“We are moving towards realizing a ‘New India’ by 2022, when we celebrate 75 years of India’s independence: an India which is clean and healthy, where everybody would have a house with universal access to toilets, water and electricity; where farmers’ income would have doubled”

Nirmala Sitaraman's Budget Speech, July 23,2024

“We are working to make India a ‘Viksit Bharat’ by 2047. For achieving that goal, we need to improve people’s capability and empower them”

The issue goes beyond the Finance Minister politicizing the budget speech; it's much more significant. In a parliamentary democracy, the accountability of the elected government is sacrosanct, and the budget is a key instrument for ensuring this accountability. The principle of "No taxation without representation" highlights this importance.

In India's democratic system, a government can fall either by failing to defend a no-confidence motion or by failing to get the budget passed. This means the budget holds equal importance to a no-confidence motion. However, in recent years, the budget has increasingly resembled a "Mann Ki Baat" show, with the Finance Minister setting ambitious targets rather than focusing on substantive financial planning.

The Modi government abolished the Planning Commission and the five-year plan system, replacing them with much longer-term visions. This shift has made it more challenging to ensure accountability. For example, when the Finance Minister discusses a "Viksit Bharat" by 2047 in the 2024-25 budget speech, it becomes impossible for Parliament to hold her accountable in the following year, as would be expected.

Furthermore, a review of recent budget speeches shows that most schemes and projects are planned for the next 5 or even 7 years, with few budget announcements addressing only the current financial year. Let check the few announcements of the budget speech of 23 July, 2024

“I am happy to announce the Prime Minister’s package of 5 schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth over a 5-year period with a central outlay of ` 2 lakh crore”

We will endeavor to maintain strong fiscal support for infrastructure over the next 5 years, in conjunction with imperatives of other priorities and fiscal consolidation

“20 lakh youth will be skilled over a 5-year period”

“As the 5 th scheme under the Prime Minister’s package, our government will launch a comprehensive scheme for providing internship opportunities in 500 top companies to 1 crore youth in 5 years”

The question arises: When the Lok Sabha and parliament standing committees review the budget proposals in their upcoming meetings for the next year, How can they address announcements and promises that span 5 years rather than just one year?

In the February 1, 2020 budget speech, the Finance Minister announced an allocation of ₹8,000 crores over five years for the National Mission on Quantum Technologies and Applications. It's obvious that citizens are unlikely to remember such promises five years after the announcement. While the media highlights these announcements initially, they lack the resources to track their progress long-term. This allows the government to easily avoid accountability.

Visions like Amrit Bharat and Viksit Bharat are great for political rallies and election campaigns. However, a budget speech should focus on the progress of the previous year and proposals for the upcoming year. The content of a budget speech must be different from a "Mann Ki Baat" radio show.