ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Fictitious Cut in Deficit Financing

THE Finance Minister has performed quite a financial feat. He claims to have slashed deficit financing in 1973-74 from the revised estimate of Rs 050 crores to about Rs 320 crores. Such an achievement has been unknown in recent fiscal history. In 1972-73, for instance, the revised estimates put deficit financing at Rs 550 crores but the actual figures, when they became available, showed it at Rs 882 crores. Likewise, in 1971-72 deficit financing went up from the estimate of Rs 385 crores to Rs 519 crores and in 1970-71 from Rs 230 crores to Rs 285 crores.

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