Dictation-3 (5 mins)

I rise to support the budget placed before this house by the hon’ble finance minister. Our development objectives have been made clear in this budget, which are growth, modernization self reliance and social injustice. For want of time it is difficult to recapitulate the economic progress made during the last one year. Coming to the tax proposals straightaway, even the objectives of the tax proposals have been very clearly stated in the budget. They are promoting productive employment, consumption standards of the poor, discouraging non-essential luxury consumption particularly when it is import intensive, providing some relief to middle class income tax payers and containing the budget deficit for the year 1989-90. If we go through all these budget proposals they are meeting all these objectives which have been placed by the govt. before us.

Firstly, I just congratulate the finance minister for providing wrong the prophecies that being the election year, he will be tempted to have populism and he will give reliefs everywhere without caring for the economy of this country. I am very happy that he has not fallen to that temptation and he has recognized the fiscal prudence which cannot be delayed and more in this country. From this point of view he has no doubt hit the problem of unemployment and has undertaken the has at the same time raised additional resources of Rs. 500 crores for this new scheme by providing surcharge of 8 per cent on those who can pay i.e. those who have income of more than Rs. 50,000. Therefore, this is a very welcome scheme which is being placed before this house by the govt. The only thing which I would like to know in this case is whether putting money for these schemes would give employment. Employment does not mean more funds.

So, I would like the finance minister to give some indication about the details of the scheme as according to me, merely providing funds will be not give employment. There will have to be a detailed scheme by which employment will be generated in due course of time and it will be available for those who are below the poverty line. Then, he has also not fallen prey to other temptations but only provided for distribution of saris to destitute women and some child development service. Therefore, in this case also he has not merely followed the popular slogans and made this budget merely popular in the election year.