SHRI V.P. SINGH BADNORE (BHILWARA): Madam, Chairperson, I thank you for giving me an opportunity to speak on the Supplementary Demands for Grants. I support them. This is the Thirteenth Lok Sabha. Some people say the number 13 is a very unlucky number.

SHRI RAVI PRAKASH VERMA (KHERI): Who says?

SHRI V.P. SINGH BADNORE : Some people have said it. But the Thirteenth Lok Sabha seems to be a lucky one. There is a turnaround in the economy of the country. There was a recessionary trend for some time. That seems to be over. That was because of so many factors. There was a world wide phenomenon and there was a recession in most of the countries. The Asian tigers were also facing a lot of economic crisis.

I think the captains of the industries of our country have also welcomed the NDA's agenda. It is supported by the Congress also. Madam, let me come to the point. There is some worrying factor which needs to be addressed by the Finance Minister.

It is true that the IRA,  FEMA, TRIPS Patents and Trade Mark Bills are all coming up and they have been welcomed also. But the worrying factor is that as to why the industries in India are closing. Why is it that the joint ventures made by most of our big industries are being bought over by the MNCs? If this trend goes on in the new millennium, in the 21st Century, in ten years, I suppose, most of our big industries would have been bought over by the MNCs. Now, have you really thought about it? I am not right now talking about swadeshi and videshi. Let us forget this. We are all in favour of giving a boost to the industry and this is what I am talking about. Have you really given this a thought? I think, it was a welcome idea and it was good that the captains of our industry were also taken to Seattle. They were also a part of the discussions there. But the worrying factor is that unless we give them a level-playing field, I think, they will not survive.

Let us take the example of the car industry. I do not want India to go back to the days of Ambassador and the Fiat. Those days are over. But still can Indica compete with the Honda or Toyota? Can they compete with all these modern cars? Even that one industry, the Tatas, which has a name, will not be able to survive in the 21st Century. This is what I want to ask you about.

Madam, the other problem is that they do not have the investment which is required for taking up the competition of the MNCs. Have you thought about that? If the money which they raise here is at the rate of 14 per cent to 17 per cent and the money that the MNCs are getting at three per cent to four per cent, then I want to ask whether there is a level playing field.

Then, there is also a problem that you have to think about. There are advantages and disadvantages of globalisation, of free market access, but unless all these problems are addressed, I think, our industries are going to face a big problem.

MR. CHAIRMAN : Thank you very much for being brief and to the point.

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Vɽ iE ɮEɮ ESʮ E ɴɱ , <ɨ =xE ʱB 200 Ec {ɪ x nx E ʱB |ɴvx E Mɪ + 150 Ec {ɪ ] x E ʱB |ɴvx * n Ec {B Eɨ x ɱ xɽ , <E {S Ec {ɪ Ex SʽB* Vɽ iE ɱ E <xb]V E ɴɱ , =E ʱB 0.2 Ec {ɪ E |ɴvx * <ɺ EU x ɱ xɽ * xxɱ <ǴV 547 Ec {ɪ x + E{] 1348 Ec {B E |ɴvx * xxɱ <ǴV E ɮ ɮ Ex E =x {ɮ BEb] i i , <ʱB Sɮ x E ʴv x SʽB* <E l-l

CPWD, PWD

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19.00 hrs.

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MR. CHAIRMAN : Hon. Member, if you have no objection, we will just allow two more members to speak.

... (Interruptions)

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ɦ{i ɽn, +{x Z x E ʱɪ ɨɪ n, <E ʱɪ vxɴn*

DR. NITISH SENGUPTA (CONTAI): Thank you Madam, Chairperson. First of all, I would like to thank the hon. Finance Minister for the excellent macro-economic management of the economy in the last two years or so. May I remind him, through you, Madam, in his last Budget speech he mentioned that he was going to introduce a `Zero based' Budgetting and now I would like to know whether he took any steps in that direction or not; if so, with what results.

Madam, Chairperson, the basic problems in the economy today is, as I conceive it, in the Budget for instance, it is consumption of expenditure, the Government has totally failed to contain consumption expenditure; secondly, failure to bring about reforms and turn around in the public sector; and thirdly, related to it, is the question of subsidy -- failure to control subsidy.

Madam, Chairperson, while I do support these grants fully, I also oppose some of the points made by some of the Members of the Opposition who asked as to why is it so big an amount, Rs. 1600 crore. The hon. Finance Minister could not have anticipated the Kargil war or the Orissa cyclone. At the same time, I also sympathise with the position of the Union Finance Minister who every year expects that at least some Ministries would come to his rescue by producing a surplus but year after year he faces only newer and larger demands from his colleagues.

It has become a psychological process that no Ministry would ever try to prepare its Budget for a lesser figure than the previous years's one. It is almost a kind of a compulsion that they have to project a figure larger than the previous year's figure.

Madam, Chairperson, macroeconomic parameters, as I said, are all very sound. Our economy has got a momentum of its own where it is taking off without the kind of daily dispensation of policy favours by the Government of the day which we were accustomed until about a decade or so. Subsidy has to be controlled. In public consumption expenditure, the biggest item perhaps is subsidy. For instance, fertiliser subsidy was only of the level of not more than Rs.300 crore in 1979 when it was introduced. I do not know what it is today.

Coming to public sector reform, Rs.6 lakh crore are lying invested in various Central and State public sector units. It is a very critical area. Even if it had got a return of five per cent to 10 per cent on the massive investment of Rs.6 lakh crore, the Government, whether at the Centre or in the States, would not have been in such a sorry state. But nothing much has been done in this regard. It may be partly due to lack of political will or maybe due to tremendous political pressure. Let us take the example of a company which produces gold in Karnataka. I remember the production details of a company. The production cost of that company was about Rs.11,500 per 10 grams of gold while the sale price for years was only Rs.4,500. You can well understand what the position would be when the nation has to subsidise to the extend of the difference between eleven and a half thousand rupees and four and a half thousand rupees. But it has gone on for three-four decades. There is nothing wrong in subsidy but it must come from a sector which is generating a surplus. We have reduced our Central Government's financial position to such an extent that no sector is generating surplus now. Every sector is discounting more and more. Somehow, we seem to lack the political will to be tough and to control some of these areas.


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