The total losses of the oil marketing companies will be around Rs 2,13,000 crore when Mukherjee has provided only Rs 40,000 crore for fuel subsidies, says a Business Standard report. That leaves a gap of Rs 1,73,000 crore. And we are not even talking about other subsidies like fertiliser and food – where too the provisions look inadequate.
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Almost the entire expenditure on big ticket items is
being reclassified as grants. The govt can then be extravagant in splashing out
money on these schemes without having to bother about the strain such fiscal
profligacy can impose on deficit reduction commitments.
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