Business Daily from THE HINDU group of publications
Friday, Oct 20, 2006
ePaper
Business Daily from THE HINDU group of publications Friday, Oct 20, 2006 ePaper |
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Industry & Economy
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Economy Perceptions in deficit?
Differing views... Media watchers in the capital are veering round to the view that there is a tendency among some sections of the press to hype up so-called differences between various wings of the government. In recent weeks, there have been reports about the alleged one-upmanship being played by the Planning Commission and the Finance Ministry on the issue of sticking to fiscal and revenue deficit targets. Since these limits bind government expenditure, the Planning Commission felt that they should be relaxed for the next two years to finance a higher development Plan size. The Finance Ministry took the contrary view and asserted that deficit targets ought to be stuck to. While these were differing perceptions, sections of the press made it out to be an ego issue between Montek Singh Ahluwalia and P. Chidambaram and informal wagers were taken up on who would finally sail through. Since two arms of his Government had different perceptions, the Prime Minister sorted out the issue with a one-sentence comment. Higher Plan yes, but not at the cost of fiscal prudence, he told a meeting of the full Planning Commission on Wednesday and sealed the issue once and for all. A question of much ado over nothing?
Our New Delhi Bureau
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