Mid-Term Review 2002-03

The finance ministry's Mid-Term Review of the economy needs to be more than a mere fulfilment of an obligation. It must become a document with analytical content. It must serve to point out the gaps that have emerged in the budgetary process and also offer credible reasons for those gaps. And finally, it must lay out the road-map for the second half of the financial year and specifically spell out corrective action where needed.