The message of caution is necessary because govts in the past have often shown a tendency to indulge in fiscal jugglery to hide the actual extent of their fiscal deficit.
DMK govt accuses Centre of withholding funds, tightening borrowing, unilateral deductions from state accounts. Says Centre's accounting & funding decisions have 'artificially inflated' debt burden.
This is the game every nation is now learning to play. Some are finding new allies or seeing value among nations where they’d seen marginal interest. The starkest example is India & Europe.
It is heartening to know that government is moving towards transperancy. We should also know that extra budgetary resources to finance capex was an old idea and it used to be part of budget documents explicitly in olden days. We notice that budget documents are totally changed in last ten years and it is really difficult to corelate any data from the statements or from yester years. Can any economist take the trouble of making an assessments of all these innovations and give out a comparable picture with traditional budget or UPA era budgets
It is heartening to know that government is moving towards transperancy. We should also know that extra budgetary resources to finance capex was an old idea and it used to be part of budget documents explicitly in olden days. We notice that budget documents are totally changed in last ten years and it is really difficult to corelate any data from the statements or from yester years. Can any economist take the trouble of making an assessments of all these innovations and give out a comparable picture with traditional budget or UPA era budgets