NATIONAL RENAISSANCE · @SwamyForPM
28th Feb 2013 from Twitlonger
[ Press Statement of JP Prez @Swamy39 on #Budget2013 ]
The Union Budget estimates and proposals for 2013-14 is insipid pedestrian and counter productive. The continued financing of fiscal deficit by market and captive bank loans is inflationary and land the economy in a debt trap crisis. The gross revenue estimate is based on an unrealistic GDP growth rate of 6.7 percent in constant prices and 13 percent in current prices. This is widely off the mark and hence the budget deficit will be higher and inflationary.
(Subramanian Swamy)