The entire world knows that Reliance power IPO was overpriced. Even the promoter admits that he made a mistake and that his folly caused the January 2008 stock market crash. He even tried to correct his folly by offering shares for free. Then why does our Finance ministry have to lie about it?
Today our junior finance minister Pawan Kumar Bansal lied openly in the parliament that Reliance power IPO was not oversubscribed.
A month ago his boss P Chidambram tried to fudge the data by not taking into account the Oil Subsidy and the Loan waiver into the fiscal deficit calculations. Do these people think that they are the only smart guys and rest of the world is stupid?
PS: Our Prime minister is perceived as a lap dog who knows when and how to wag his talk and as Ram pointed out, now even our President is not taken seriously.
And Prax forwarded a nice article detailing how the real fiscal deficit is 4 times what is being claimed by PC.