Published On:Thursday 15 March 2012
LEAKED NEWS: Government plans to call fiscal deficit as fixed deposit to reduce burden on India's finances
It will improve India's deteriorating fiscal condition
In a major unexpected move today in the Union budget, Indian government is expected to change the name of the fiscal deficit into fixed deposit which will improve India's financials substantially. India's Finance Minister, Pranab Mukherjee is expected to announce this important news in the Union Budget.
Diggy Chacha Fan Club received few leaked copies of the Budget document today which clearly mentions that the government will stop calling fiscal deficit as 'fiscal deficit' but the name would be changed to fixed deposit so that within a year, it will be able to convert fiscal deficit into a productive resource for the country.
"What is the harm in calling fiscal deficit as fixed deposit?" asked a government official who didn't want to be named by DCFC.
"Because of this ridiculous fiscal deficit that was because of foreign hand we could not take any populous measures. If we started calling fiscal deficit as fixed deposit we will get additional leeway to implement different policies along with Food Subsidy Bill," said the official.
He also stated "Fiscal deficit is also an investment in different way. The Parliament has given government a right to spend tax payer's money in a free manner. Why should government be answerable in a way of fiscal deficit? Therefore, government appointed a committee few days back which had likes of Montek Singh Ahluwalia (Monty), C Rangarajan and Subir Gokarn who decided to start calling fiscal deficit as fixed deposit."