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On Monday, the Indian Finance Minister Nirmala Sitharaman presented one of the most highly anticipated Indian budgets in recent memory. Facing a global health pandemic, a severe economic slowdown, and continued anxieties over inflation, some commentators argued that this budget was not simply the most important of the Modi government’s tenure, it was one of the most important in three decades.   To breakdown this year’s budget and to kick off the fifth season of Grand Tamasha, Milan was joined by Sukumar Ranganathan, editor in chief of the Hindustan Times. Sukumar and Milan break down the nuts and bolts of the budget—from spending priorities to the fiscal deficit and the government’s ambitious plans for disinvestment. The two also discuss the government’s broader economy strategy, including India’s continued inward turn on trade.  Episode notes:  Editorial, “What Union Budget 2021-2011 Gets Right,” Hindustan Times. Roshan Kishore, “Where the Budget Gets India’s Economy Wrong,” Hindustan Times. Yamini Aiyar, “Decoding the Budget and the Economics of Welfare,” Hindustan Times. Shoumitro Chatterjee and Arvind Subramanian, “India’s Inward (Re)Turn: Is it Warranted? Will it Work?”