Apropos the report "Poll code helps FM better fiscal deficit target" (May 6), the Election Commission's code of conduct that asked various ministries to refrain from spending, resulting in a lower fiscal deficit, was described as an achievement for the finance minister. However, this doesn't seem to be an achievement in terms of taming the fiscal deficit and is similar to the "rule of lapse" that happens at the end of March. The report says the reduction in the fiscal deficit was mainly on account of reduced plan expenditure, whereas there was a substantial increase in non-plan expenditure. Since plan expenditure is generally used for development activities, and non-plan expenditure to maintain the ongoing system, using plan expenditure before the implementation of the model code of conduct would have helped the economy and perhaps the United Progressive Alliance government too.
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Keya G Vohra Gandhinagar
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201
E-mail: letters@bsmail.in
All letters must have a postal address and telephone number