Sunil Jain: Deficit reduction illusory

Terrible budget. Credit system to rural areas hit badly by waiver. Deficit reduction illusory as offline expenditure not included like oil bonds.

Sachar report shows electoral calculations supreme. More support to CPSUs a bad idea. Too small an increase in textile fund.

Insurance for health, crops, and for unorganised sector shows imagination as does Smart PDS cards. Irrigation corp a good idea.

Overall, in keeping with PC method of gettting others (oil companies and banks) to pay his bill.

Pay Commission will hit fisc badly, so more problems ahead.