Union Budget 2013: 8 ways in which FMs fudge numbers
Union Budget 2013: 8 ways in which FMs fudge numbers Budget 2013-14 will be a "responsible" budget, P Chidambaram has promised us. The problem is, one can figure out how "responsible" a budget is only after one gets to see the fine print, and that too possibly only after some time has lapsed. Around mid-year is when the stuff hits the fan. This is because the entire business of budgetary projections is done with smoke and mirrors. You assume this and you presume that. You look into the rearview and predict the future. If there is no rearview available, you hypothesise – even fantasise – about a rosy future. In essence, most finance ministers can project anything and there is at least some chance (usually, one in 10) that they are right. But there is more of a chance that they are wrong. Here is a partial check-list of how FMs can fudge their books and make their budgets look better than they are in terms of fiscal ...