Worse, "The budget that you project alarms the board."

Yet that budget projected only a $14 billion deficit this year, and a return to surpluses next year.

The budget projected total expenditure in 1992-93 to rise by only 5 per cent(i.e. less than inflation) to Rs1,190,000 million.

That budget projected $78.3 million in spending.

The budget projects a reduction in the deficit to $575 billion by 2018 before rising to $704 billion by 2022.

Two years ago, the budget projected a surplus of about $132 million.

But the city has found that its cost of providing the same services is actually slightly below what the budget had projected.

The second budget, released in May 2009, projected a $57.6 billion deficit for 2009-10.

With revenue set at $1,169,000 million, the budget projected a deficit of $351,000 million.

The budget projected a further cut of 85,500 in active duty military personnel, leaving a force of 1.52 million.