22 thoughts on “Borrow Like You Are Kingfisher

  1. The starting point of a budget–any budget–is to spell out the financial goals/mileposts/objectives and thereafter to spell out the ways and means for achievement thereof…in the Indian context, its just a platform for sounding off platitudes and legitimizing various prescriptions,involving exchequer funding, to provide support to cronies/desired votebanks/etc etc.. and hope for the best. Hence, trying to analyse the budgetary exercise from the standpoint of efficacy or similar efficiency yardsticks is pointless.
    As for the ” opposition” how can you expect them to kill the golden goose.Apart from their own cronies being given sops, in private agreements between the politicos, they are not going to damage a system that holds forth promise of rewards if/when they get their hands on the steering wheel. We can only expect tokenism while attacking the budget, as the intention is to only score brownie points and not to trigger off a situation that may cause them to face problems.
    Was there any mention of the FRB in the entire speech ? If not, the budget should be ignored as just another speech in the Parliament…

  2. That’s precisely the point of penning a blog. Am disgusted with the press and captains of industry soiling their diapers when it comes to criticising the Govt. Incidentally, Chandran, I know you are capable of writing well. why don’t you also get into blogging or Twitter?

    • krish…these days, its a dicey proposition..you can have the cops or howling mobs at your doorstep even if you happen to “like” a comment on FB or make a comment offending the moral police ( no shortages there)…and anyway, I prefer making comments on some-one else’s blog, so that at least I’ll have a known cell mate when eventually the law catches up..

  3. That’s excellent analysis on Fiscal Deficit and prevailing situation. I am amazed that you write so detailed and with depth but do NOT write enough on Twitter on economy!! Please do so!!!

      • RA, you’ve raised profound questions and proceeded to answer them yourself. And so well, too !
        As I’ve been saying in another context (in the Bank, that is), the motto seems to be “If you can’t budget, fudge it”.

      • shesh…glad to see you’ve surfaced, albeit on someones blog..when would we next hear from you…maybe at mayawati’s 25th birthday celebrations on You-tube ?

  4. Let me confess, even being student of Commerce I am not been able to understand ABC of Budget. Thanks Krishna ji for explaining Complex Budget in such a simple language with proper backups of Data’s. Eye opener on opposition stand as Chandra ji mention above that they will oppose only for opposing and do not wish to disturb the System.

    Once again congratulation sir for this blog.

    Regards
    Girish Singh

  5. Brilliant Analysis Sir. Apologies for late comment, but surely this blog shoud be read by alll, and we need to question that are been raised in this article, especially mismatch in expense and income source, to the tune of 51000+ crore and in after effecton CAD / FD and most importantly on inflation.

    The facade is covered by window dressing n more so by no indepth grilling in media over such important issues, focus is more on TRP based and ranking budget without proper analysis.

    Thank sir, for such a wonderful piece

    • in a “democratic” dispensation like ours, there will always be costly populist measures, like loan waivers, mnrega,drought/flood relief disbursals etc..which find their way eventually into some Swiss bank vault or Cayman Island Bank or Mauritius shell company or whatever..there’s not much sense in applying yardsticks that have relevence in the more transparent/honest democracies elsewhere…if you want to make comparisons, how about,say, Somalia,or Gambia,or Pakistan..we’ve( maybe) got our nose just ahead with such contestants, and should nurture the feel-good feeling arising therefrom..

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