heavy electrical industries, are closed down then what would happen.
it Hatia, which is capable of giving out production in a year equal to the production of one Bokarro, is closed down how will the nation-make progress. So, I think it is a heavy blow to the roots of our industrial development. If this policy and Government will continue further,the country has to free a big danger.So I would like to emphasize that the basic policy itself is wrong, for example you can see.
Only one paragraph has been devoted to agriculture, saying that it is important. Who will not say that agriculture is not important for country like India. But what is the basic concept of agriculture.
It is that there must be production. The land must seloug to the one who toils in the field. The enter Budget is silent over it. There is a national policy on land reforms but there is no indication about it in the Budget. land ceiling laws should be implemented in all the States and land excess to that ceiling should be acquired and distributed. If such provisions are made in the Budget, we can give some means to farm labourers to do farming. If more and more people do farming with modern implements and make the country self-reliant and produce goods for exports, then the nation can make progress but they do not understand it. The Finance Minister does not have any regard for land reforms. If this Government allows the tillers or farm labourers to implement these land ceiling laws in their own way, I think,. it will not do so, Rather, it will oppose such move. We had made some progress in implementing these laws but the Government is making all out efforts to give up their implementation through these policies .Through this Budget land reforms have been totally ignored.
The Government has taken a dangerous step by keeping silence over this issue, will India follow the footprints of America or France?
(Interruptions) I know, many land lord colleagues of mine sitting this side and that side are having allergy to what I am saying. But I am saying, if such policy continues, the nation will not sit silent.
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This Budget and the Government policy may prove helpful in distributing surplus land among land-less and thus prove helpful inputting to an end to the social injustice and economic exploitation.
If this is not done for boosting production and making available there implements for the needy, there will be dangers of communal violence, caste violence, economic backwardness of the country and investment of foreign capital in the country. The big country like India cannot make progress in the wake of such a dangerous policy, as it is not a small country like Taiwan, Singapore or Hongkong, so I would like to submit that agriculture does not mean that only big landlords, who have grabbed land of others. are part of agriculture.
The Finance Minister has stated to reduce the rate of commercial interest from 18 to 17 per cent and the rate of bank interest from 12 to 11 percent. But illegal usury has assumed serious dimensions in the country. In every state of the Country, there is a ceiling on rate of interest. But it is being violated openly. The rate of interest on loan taken from money lender is 15 per cent but the rate as high as 150 percent, 200 percent, 400 per cent preven 600 per cent is charged. So, a big part of what the labourers get, goes towards interest. Do our banks have any role in it?
Does our present economic system play any role in stopping the practice of illegal moneylending. We have to see why people borrow money illegally and waste a major part of their hard earned income.
This Budget has, however, not at all dealt with these things. The only concern of the Budget is to make a rich man still richer.
The Government has therefore, made the provision that it will not ask the source of income if someone brings gold to India from abroad.
The Government will not have any objection for whatsoever way gold is brought in. The Government is not bothered about the account of black money or about the money earned through
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smuggling is not merely an economic Office the hon. Minister of Home affairs has just mentioned about the cases of smuggling committed by Daud Ibrahim and Memon Brothers. These cases ridicule our national security under policy, one has the liberty to use his blackmoney to purchase fold. There will naturally be price like and the value of wealth will go on increasing where there will be no increase in the national wealth. You can bring money from abroad to spoil the prospects of industries in your country and yet you can go on earning money. Therefore, the president of China Mao Tse Tung had once said ... (Interruptions)
The hon. Minister of Finance has adopted the policy of encouraging unproductive capitalism. This is revealed all through the three Budgets presented by him. Those Budgets provide for you to make Monday and to become rich even though there will be no increase of money in the country. In this regard, I would like to say openly that earning of money by raising production will alone account for patriotism. You will be serving the interest of the country if you earn money by setting up your own industries Earning of money without producing it is gratis, the glaring examples there of are bank seandelas.
Two Budgets have already been presented and the third is being passed. The Rural Banks are on the verge of bankruptcy,There is hardly any rural Bank which is in a position to grant productive loan in villages. The situation is deplorable. The Government is not making its policy clear. there was a suggestion that all the Rural Banks should be merged into one. But even that suggestion is working.
Those Banks have their unions and they are being merged with other Banks. I would like to request that the Government should not release their crore outstanding amount of RS. 250-3000 crore due to be paid to them as ordered by the Supreme Court and the Tribunal. That will increase inflation. the government should keep the money in savings accounts against their names so that the account holders may get the money later. It will help check inflation.
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Regarding prices, I would like to say,through you that the Government should directly announce that the farmers would get remunerative prices before the time of harvesting. Officials should also be kept ready to make purchases in the villages. Otherwise,the farmers have to sell their grains to traders in distress which is otherwise known ass distress sale. The officials of the food Corporation of India collude with them. The actual farmers who produce grains are not benefited and the consumers have also to pay more prices,there should be a national pricing policy for the farmers so that the actual producers of foodgrains may get remunerative price.
The difference of price between the one that is given to farmers and the other that is taken from the consumers should be fixed at 20 to 25 per cent.The prices will not increased those limits and it.,should be executed through distribution system. The pricing policy will not succeed without this.
I would also like to submit that the banks should be involved in ushering in systematic productive industries in the country. I am putting strees on the word 'productive'. I ask if there is even a single millionire in the country who, has set up his business without taking loan from banks. Industries are run with our money i.e. with the money of the people taken through the nationalised banks.it is said that Public sector is a failure. I say it is not a failure.
There are people who grab the money of the country,.They are flourishing and blaming the country.
Mr. Chairman. Sir, our country is also experiencing power- cruises.the whole of the Himalayas is the reservoir of electricity.
The whole of the Himalayas is there servoir of electricity. The work on Tehri Dam runs at a low pace. Nepal is ourneighbor country and the terai region of Nepal is reeling under drought, though is the reservoir of water. Himalayas have the highest mountain peak in the word. I would like to submit that our Government should hold talks with the Government of Nepal as soon as possible. If some development in this regard is made in the terai region of Nepal, there will be
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no need to burn coal-Be it Tehri Dam Kosi Dam or dams on rivers Kamala and Bagmati efforts should should be made to implement the agreement reached between India and Nepal. it is only after doing so, we can meet the scarcity of power. Production cannot be made rapid, unless we meet the scarcity of power. It is most needed whet her it is the public Sector, Private Sector or Small scale sector. That is why, I would like the Government to proceed with the policy eamestly.
I would like to add that the Government has made the policy for the eastern states of the .country that any one who will set industries and invest money for five years will be exempted from taxation. Unfortunately, our state is also backward. Bihar is also industrially backward. Except the area surrounding Calcutta, Bengal is also industrially backward. Entire Madhya Pradesh eccept a few pockets is backward. At the same barring a few big industries Orissa is also backward. I would like to requetshat tax exemption must be given in the backward areas and backward districts, so that a person willing to set up an industry in the private Sector or in any other sector may set it up. In this way those areas will also prosper with new industries. The Government should not close the industries. The Government should not close the industries with Public sector that are sick. There should be a scheme to reviwe them so that production may increase. Cooperation of labourers should also be taken.
The Government has already had a policy for the labourers. I repeat here once again that labourers should be given chance to run their mills in profit. Mills should be allowed to beun collectively.
There should be one union in one unit and election of union should be conducted by secret ballet system so that clashes among different unions could be checked. there should be participation of labourers in production. They should also have a say in framing production. They should also have a say in framing production policy and more over, they should have participation in management so that they may feel that they are also contributing in the progress
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of the country.
Sir, I conclude by opposing the Budget since it is contrary to aspirations mentioned above.
SHRI LOKANATH CHOUDHURY(Jagatsinghpur): Mr.Chairman, Sir, I want to make a submission which pertains to the procedural matter.
MR. CHAIRMAN:Have we not followed the procedure?
SHRI LOKANATH CHOUDHURY: The procedure should be like this.
MR. CHAIRMAN: Have we not followed the procedure? Please sit down. Have we gone out of the procedural way?
SHRI LOKANATH CHOUDHURY: I am drawing our attention to the fact that we are speaking about Meghalaya and many offer problems. when the General Budget is discussed, generally most of the Ministers should be present here. Other wise, why should we speak. We spoke on many things which belong to different ministries.
MR. CHAIRMAN: We have a senior Cabinet Minister here.
SHRI LOKANATH CHOUDHURY: One senior Cabinet Minister cannot keep in mind of what all the members are saying.
MR. CHAIRMAN: Please do not waste the time of the House.
SHRI LOKANATH CHOUDHURY: In the House, the
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MR. CHAIRMAN: Nothing will go on record-
I have an announcement to be made.