Pranabda,a veteran of many Budgets, presented his Budget Proposals for the fiscal 2012-13with what he admitted as "ground realities of the world." He said, "Theglobal crisis has affected us. Indias Gross Domestic Product (GDP) isestimated to grow by 6.9% in 2011-12, after having grown at the rate of 84% ineach of the two preceding years. For the better part of the past two years,we had to battle near double-digit headline inflation." He admitted that "India'sslowdown can be attributed almost entirely to weak industrial growth."

Referringto India's external trade he said, "In the first half of the current yearwere encouraging. During April-January 2011-12, exports grew by 23% to reach$243 billion, while imports at $391 billion recorded a growth over 29%."Not many, both inside and outside media, questioned as to what made him to stopgiving out figures for the later period. He knows where to stop and why.However, what is implicit in his statement is the fact that the performance onexternal trade for the later period, for which the information must have beenavailable to him, is as much explicit in terms of our poorer performance.


Asa preamble to his "cruelty", and in his attempt to kindle a light of "kindness",he quotes Hamlet, the Prince of Denmark in Shakespeare's immortal words, "I must be cruel only to be kind."


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