The Making of India's Budget - Part I: When September Begins

As winter takes hold of northern India at the end of every year, in New Delhi's corridors of power, a well-oiled bureaucratic machine moves into a higher gear, in preparation of India's annual Budget, perhaps the country's most important yearly statement. But the making of India's Budget — a complex, expansive set of documents that details the country's income, expenditure and economic policy, among others — actually begins late into the fall, with the issuance of what is known as the Budget Circular in September.