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RS returns appropriation bill without debate
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SME Times News Bureau | 22 Mar, 2013
The Rajya Sabha Thursday returned to the Lok Sabha the appropriation
bill after members decided to skip a debate on account of paucity of
time and submitted their speeches to the house,
"With a heavy
heart, I lay my speech (on the table of the house). The budget should be
discussed threadbare, it is government's failure that is creating this
situation... We are setting a bad precedent here," said Bharatiya Janata
Party leader M. Venkaiah Naidu, who had initiated the debate on the
general budget in the upper house.
Finance Minister P.
Chidambaram, however, assured the house that he would go through all
speeches submitted by the members, prepare a reply and circulate it.
In his written statement submitted to the house, Naidu dismissed the budget as "uninspiring and deceptive".
"The
budget has failed to address major challenges, including the two main
issues of corruption and inflation, which is breaking the backbone of
the poor and middle class," he said.
"Credibility of the budget
system is lost. There is no mention about corruption in the entire
budget speech... it is not clear how the fiscal deficit of 4.8 percent
will be bridged. There are only two ways -- to print new notes or to
borrow. The first will increase inflation and the other will lead to
insolvency," he said.
He said "mismanagement of economy and policy paralysis have led to the present situation".
The
appropriation bill enables the government to draw funds from the
Consolidated Fund of India to meet its expenditure till the finance bill
is passed.
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