Budget 1994-95 Fiscal Aspects and the Real Economy

It is to the credit of the present finance minister that, even as a member of a minority government, he decided to face the facts, accept the inevitable and venture to bring back the economy to normalcy by a twin strategy of fiscal discipline and structural reform. Quite understandably, the finance minister thinks that his strategy has been vindicated and, naturally, has persisted and pursued the same path in the budget for 1994-95. Therefore, it is only fair that we should judge the policy and hence the budget not on grounds of ideology but on performance.