 "Empty Liquefied Petroleum Gas (LPG) cylinders are seen at a gas distribution centre at Dujana village in Noida (Photo: Reuters)")
The government’s response to those who may be questioning some of the revised estimates for 2018-19 in the interim Budget presented last Friday is that the finance ministry has access to information and data that gives it the confidence to put out those numbers. That should be a reassuring message. After all, these revised estimates are crucial to the government meeting its revised fiscal deficit target of 3.4 per cent of gross domestic product (GDP) for 2018-19.
A reality check on these numbers, nevertheless, should be useful. Let us look at the expenditure on major subsidies. The revised estimates for
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