Window-dressing of Budget statistics has assumed serious proportions

As the financial year draws to a close, the finance ministry is going all out to contain the fiscal deficit to its red line level of 4.6 per cent of GDP. Throughout the year it has engaged in window-dressing to lift receipts and curtail expenditure — the latest such move being a directive to banks to transfer their TDS receipts to the exchequer in March itself, that is, by the end of the month, rather than a month later.

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