02-26-2008, 09:42 PM
Understatement is not a virtue
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->The UPA government has been claiming that it has done well on fiscal consolidation. But as always, there is a difference between appearance and reality. Off balance sheet items have meant effectively larger budget deficits than the magnitudes talked about in the discussion under the Fiscal Responsibility and Budget Management (FRBM) Act.
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<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->The UPA government has been claiming that it has done well on fiscal consolidation. But as always, there is a difference between appearance and reality. Off balance sheet items have meant effectively larger budget deficits than the magnitudes talked about in the discussion under the Fiscal Responsibility and Budget Management (FRBM) Act.
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