So we thought it important to call attention to the inflationary dimensions of fiscal deficit, inasmuch as we have combating inflation over the past two years. To summarize, we did call attention to our concerns to fiscal deficit but did so more pointedly this time around because it was a more appropriate and more opportune time to do that.
WSJ: Governments generally are not known to be disciplined on spending in election years and there are several large state elections in India this year. What if they don’t heed your advice on spending because of election year pressures. SUBBARAO: Not just me, there are lots of other people talking about the negative repercussions of fiscal deficits.