You are here: Home » Opinion » Columns
Business Standard

Jaimini Bhagwati: Illusory Budget numbers

In the Indian context, it is the gross primary deficit rather than the fiscal deficit that should be more in focus

Jaimini Bhagwati 

Jaimini Bhagwati The homeless and unwashed sleep under flyovers and approach us with outstretched palms at traffic lights even in the exclusive enclaves of Delhi. As we Indians know from personal experience, basic security, health care, clean drinking water or electricity are not available to about 300 million of our citizens. There are none so blind, as those who will not see. It is axiomatic that high fiscal deficits raise inflation which hits the lowest income and salaried classes the most. And, it is logical for governments to restrict Budget deficits, since that reduces crowding out of private ...

TO READ THE FULL STORY, SUBSCRIBE NOW AT JUST Rs 149 A MONTH

Key stories on business-standard.com are available to premium subscribers only.

LOGIN

EMAIL / USER NAME
PASSWORD
REMEMBER ME Forgot password?

Not a member yet ? Resister Now

Connect using any below

  • Don't lose the opportunity of saving $26.77 per month
  • Don't lose the opportunity of saving $26.77 per month
Total Amount
Rs. 0.00
To proceed, kindly select a subscription package

WHAT YOU GET

On Business Standard Digital

  • Access your subscription from anywhere. Be it your computer, tablet or smartphone using a browser or the App, Your Choice.
  • Access to exclusive content, features, opinions and comment, hand-picked by our editors, just for you.
  • Pick your 5 favourite companies. Get all the news upates at the end of each day through E-Mail.
  • Pick the industry that you want to track. And get a daily news letter specific to that industry. Cut out the clutter.
  • And stay on top of your investments. Track stock prices in your portfolio
  • Access 18 years of archival data

On Digital

  • Seamless access to WSJ.com with your Business Standard digital account.
  • Experience the best of the Journal's reporting, video and interactive features.
  • Read about the people and events shaping business, finance, technology, politics, technology and culture.
  • Stay informed with newsletters - an easy way to get WSJ content straight to your inbox - making life easier on your busiest days.
  • More business executives read the Journal globally than any other publication.
*Note :
American Express® is proud to be associated with this initiative and will contribute Rs 100 x 6 months thereafter, standard rate of Rs 149 will be charged.
Offer valid for Indian residents only
Requires you to share personal information like PAN, Date of Birth, and Income.
*Annual saving on WSJ subscription price of US$ 347.88 (12 months @ US$ 28.99 per month)
* 1US$ = 67.50 INR.
*Please note that this offer is not valid if you are/were a registered/existing user on WSJ Digital
RECOMMENDED FOR YOU

Jaimini Bhagwati: Illusory Budget numbers

In the Indian context, it is the gross primary deficit rather than the fiscal deficit that should be more in focus

In the Indian context, it is the gross primary deficit rather than the fiscal deficit that should be more in focus The homeless and unwashed sleep under flyovers and approach us with outstretched palms at traffic lights even in the exclusive enclaves of Delhi. As we Indians know from personal experience, basic security, health care, clean drinking water or electricity are not available to about 300 million of our citizens. There are none so blind, as those who will not see. It is axiomatic that high fiscal deficits raise inflation which hits the lowest income and salaried classes the most. And, it is logical for governments to restrict Budget deficits, since that reduces crowding out of private ... image
Business Standard
177 22

Jaimini Bhagwati: Illusory Budget numbers

In the Indian context, it is the gross primary deficit rather than the fiscal deficit that should be more in focus

The homeless and unwashed sleep under flyovers and approach us with outstretched palms at traffic lights even in the exclusive enclaves of Delhi. As we Indians know from personal experience, basic security, health care, clean drinking water or electricity are not available to about 300 million of our citizens. There are none so blind, as those who will not see. It is axiomatic that high fiscal deficits raise inflation which hits the lowest income and salaried classes the most. And, it is logical for governments to restrict Budget deficits, since that reduces crowding out of private ...

image
Business Standard
177 22