I ordered a rum and Lehar Pepsi for him, a rum and Thums Up for myself...
Last night, at the press club bar, the distinguished economic and business correspondent was holding forth on the budget. I ordered a rum and Lehar Pepsi for him, a rum and Thums Up for myself, and asked: “What do you think of the budget?”
The distinguished correspondent downed his rum and Lehar Pepsi and said: “The expansionary impact of the surge in the fiscal and revenue deficits juxtaposed against the injection of demand into the budgetary restructuring could regulate the real economy in both the industrial and agricultural sectors of the new investment climate.”
“Is that good?” I asked, ordering a whisky-soda for him, whisky-water for myself.
“That is bad,” he said, drinking his whisky-soda. “It is dependant on the budgetary impact of the positive assumptions of double digit inflation for the supply aspect to respond to the demand stimulus of the macroeconomic policy of the fiscal fine tunings in its social dimensions.”
“Is that bad?” I asked, ordering a vodka and orange juice for him, vodka on ice for myself.
“That is good,” said the correspondent. “A degree of cautiousness on the rationale of the extension of the rupee convertibility for the global conglomeration of the MODVAT scheme in line with international market forces has revived the ailing capital goods industry as per the graduated cuts in customs and excise duties in the domestic stock market.”
“That’s good!” I said, ordering a gin-tonic for him, gin-bitters for myself.
“That’s bad,” he said. “The management of the price situation and reversionary impulses for the global economy requires a reorganisation of the supply front and flexibility in reserves for conscious plan outlay expenditure control for high programme deficits of an inflationary spiral in order to contain the deficit at Rs. 6,000 crores, given the pulls and pressures of the polity.”
“That’s bad?” I said, ordering a chilled wine for him, a room temperature wine for myself.
“That’s good,” said the correspondent. “The substitution of specifics by ad valorem provides a budgetary bonanza of fiscal options that compute tax loss tariffs for a fuller convertibility on current account, making it financially accountable to the trade for invisibles in the book balance statements and shifting the tax burden of post budget trading to investors. That, of course, is the soft option which expects the BSE sensitive index to cross the magical 10,000 index mark for improved sentiment on the capital market.”
“Is that good?” I asked, ordering two beers, his with 7.8 per cent alcohol content, mine with 3.5 per cent.
“It’s bad,” said the financial correspondent. “The fragile stability impacted to the balance of payments should prevent the trespassing on double digit inflation irrespective of the nature of the fund programme as long as there is discipline in the fiscal adjustment of long-term procurements for adjustable grants in rupee-dollar payments for the infrastructure of the development sectors. Is that clear?”
“Yes, thank you,” I said, settling the bar bill.
courtsey: cybernoon/Busybee/Round And About
