The govt saying that it will stick to the 3.5% fiscal deficit target is just a sound bite without credible substance
Budget speeches are all about messaging. You play up what you want your constituents to notice. You play down what is less appealing. A sober assessment of the budget requires that we get beyond the messaging to the actual numbers and the substance. In my earlier piece, following a quick scan of the macro numbers immediately after the budget presentation, I had described the budget as predictable but unrealistic (published in Mint on 1 March).