eng
competition

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created Jul 13th 2018, 15:07 by Mohan Singh


10


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347 words
112 completed
00:00
Now, Sir, come to the general approach, the financial and monetary approach, the Finance Minister as in this Budget and in the previous one also has adopted an approach of collecting real resources outside the Budget and outside the Finance Bill. Last year about rupees three thousand crores were collected on account of price rise and this year with the rise in the prices of petroleum and steel and coal about Rs. 1500 crores have been collected outside the Budget. Again on account of the increase in prices of steel and coal another Rs. 500 crores would be collected. Technically you can say that this is not a budgetry measure. But, if they suffer a loss these things will have to be taken into account and to that extent the budget deficit would have increased. Now the State is playing a massive role not mearly in so far as maintanance of law and order is concerned, but also in so far as development activities are concerned. The old concept of collection of resources by way of taxation is there and there is the injudicious method by which the Government gets Rs. 200 crores by taxing the petrolium products. Sir, last year the Finance Minister collected about Rs. 2000 crores on petrol and petroleum products alone on account of the rise in their prices. But, now if the method of resources mobilisation increasing is through taxation then I think it is necessary to ensure that this artificial distinction between resource mobilisation through price rise and taxation would not stand in the way of Parliament and the nation should be presented with a clear picture of what resources are being mobilised either through price rise or through taxation. This artificial distruction of saying that this price rise is no longer very realistic in the present day circumstances because this price the Central Exchequer would have to pay for it and it would be reflected in the deficit. Sir, the method which has been adopted this year has meant that the resources had been collected outside the Budget and Parliament.

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