EXCLUDING the local governments’ expenditure and inter-governmental adjustments, the combined total expenditure of the Union and state governments, according to the Budget estimates for 1999-2000, is a whopping Rs 524,000 crore.
The actual expenditure was in excess of Rs 550,000 crore. Judging by past experience, next year it could well be Rs 600,000 crore. This amounts to Rs 1,644 crore a day, or in terms of purchasing power it is equivalent to $2 billion a day!