Administrative sloth

The current fiscal marks the first time since 2005-06 when the Centre’s total spending would turn out lower than budgeted. The Rs 60,100 crore of expenditure savings in the revised estimates for 2012-13 is not insignificant — being two-and-a-half times the Centre’s disinvestment proceeds or more than twice the spending on its flagship employment guarantee programme, MGNREGA. But it is not the quantity as much as quality of expenditure compression that merits consideration.

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