The financial assistance to Unitech was provided by LIC way back in 2008 even as the 2G spectrum scam was unfolding.

“This case is a blatant example of a deliberate bid to benefit a private party to the detriment of LIC. It involves acting completely contrary to law, repeated misleading of Investment Committee, submission of untruths to the DFS to mislead and gross administrative incompetency or undue benefit being extended to a persistent defaulter.”

This is the observation of a senior official within the Finance Ministry.

It is only fair that any analysis of a Budget must be rooted to the state of the economy. That would, in more ways than one, provide an overall context to its textual contents. Most economists and analysts are unanimous of their view (especially after the clear mandate to the NDA in the recently concluded elections) that the decade of UPA rule was indeed a disaster on several fronts, notably, on managing the national economy. It was therefore remarked in the run up the Budget 2014 that the incumbent finance minister (FM) has as much fiscal elbow room as Christ had on the cross.