Unprecedented circumstances require unprecedented measures. This is likely to be witnessed in the upcoming Union Budget as Finance Minister Nirmala Sitharaman has promised to deliver a ‘budget like never before’. Globally, governments are facing massive policy and operational challenges and are adopting unconventional measures to revive their economy. A Big Bang package of reforms is thus on the anvil. Expectations are high from the current Budget, which is expected to outline government strategy to revive the various segments of the economy from the severe slowdown caused by the pandemic. Undeniably, the government has a difficult task of manoeuvring the nascent recovery of the economy and managing the fiscal burden, which is expected to remain high not only for the current year but also for the subsequent years. In the current scenario, it would be impossible not only for India but for countries globally to shoulder the pandemic without fiscal destabilisation in the short to medium-...