“Live only in a village that has a money lender, a physician and a perennial river …” is the ancient wisdom of Sumati Sataka. Ever since money replaced barter economy, money lending at a fair rate has become the essence of modern life. Everyone needs to borrow to tide over a contingency or to invest in a venture.

A budget is not merely about numbers, receipts and expenditure.  It is about what is to be done with our money, what policies and services are preferred, how resources are spent, and getting good value for our money.

AP  draft   budget for 2002-03  conceals  as  much   as   it   reveals.  An expenditure of Rs. 32,981 crores is proposed for the year.  Of this, wages and pensions of employees account for Rs. 11,090 crores, or 82.7% of the Rs 13,408 crores tax revenues!  This is quite alarming.