Sir, even though the bill come for the first time I had touched upon this subject in the matter budget speech in May last and its principles figured a prominently in the course of the general discussion on the budget.The two booklets explaining general the new taxation proposals have also been circulated to the hon. Members of this house.The House will therefore agree with me this it is necessary to cover the same ground in deal again in my introductory speech, especially as the various provisions will come up for detailed constitution later on. I will confine myself only to the changes that have been made in the original provisions of the Bill in the course of its passage in the other house. At the outset I should say that the broad particulars of a tax on wealth have received warm support not only in the other house but also from a large section of the public though there was criticism other some particular provisions in the light of the criticisms and also representations received from various quarters.