Budget 2012-13: I do not believe the deficit numbers: Bibek Debroy

Bibek Debroy, Consulting Editor, ET Now, gives his post budget views. Excerpts:-


ET Now: The Prime Minister’s statement has been pretty categorical and clear the intentions right but how soon can we see a move?

Bibek Debroy: Well people have conveniently forgotten that Dinesh Trivedi also used the statement 'bite the bullet' and look what happened. I want to get back to the subsidy figure that was floating around. The Finance Minister said that he is fully budgeted for food subsidy including the food subsidy bill, I have not seen the figures but fully budgeted that is a Rs 100,000 crore. Question, therefore, do you believe the subsidy figure that has been put in the budget, do you actually believe that there will be a completely market based hike in the petroleum product subsidies, the prices to eliminate those subsidies, the fertilizer part is easy, not the petroleum part particularly if global prices go up and therefore, I am extremely sceptical of biting the bullet is, biting the ballot all of those and consequently I do not believe the deficit numbers.

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