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Numbers in budget contrived: Swamy
By Our Special Correspondent
CHENNAI,
AUG. 31.
Noting that the Reserve Bank of India had decided to downgrade the earlier optimistic projection of the growth rate of GDP and low inflation, the Janata Party president, Subramanian Swamy, today said the numbers in the 2004-05 budget were contrived and did not add up. "Now the RBI has acknowledged that inflation is a cause for anxiety and the GDP growth rate has to be scaled down from the earlier estimate of 6.5 per cent," he said in a statement. "There is a heavy cut in the development expenditure and a substantial increase of loans that the Government is going to take from the banks, bringing the country into the fiscal crisis."
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