The finance minister Pranab Mukherjee has said that he intends to table a white paper on black money in this session. This has been the long standing demand of various parties and the issue of black money has been a major rallying point for anti UPA parties.The pre-Budget Economic Survey yesterday warned that a large and cumbersome anti-corruption bureaucracy could impact decision-making process. A gesture that is meant to improve the government’s credibility.
He said “I propose to lay on the table of the house a white paper on black money in the current session of the parliament. Government is committed to enactment of public procurement legislation to enhance confidence in the public procurement and to ensure transparency and efficiency in the process. The bill in this regard is to be introduced in the budget session of parliament. Following legislative measures for strengthening the anti corruption frame work all in various stages of enactment. Prevention of money laundering prevention introduced in parliament with a view to bring certain provision of the act in line with global standards. Benami transaction prohibition bill 2011 is currently being examined by standing committee of finance, it would replace the Benami transaction prohibition act 1988.”
On the other hand BJP’s national vice president has summed up the mood of the party immediately after the Budget when he said that Dada’s (Pranab’s) budget presented amidst revolt from Didi (Mamata), will be the omen for farewell of the UPA Government.
The BJP today slammed the Union Budget as “anti-people” and said it would lead to further price rise hitting the common man. The main opposition party said that instead of leading the nation in the path of reform this budget will take it to indebtedness. They said it will lead to further rise in prices that will hit the common man. The party said it does not provide any relief to the common man, instead it betrays their trust. BJP general secretary Ananth Kumar said the budget was “anti-people” He said “Due to the increase in service tax and excise tax the people are going to face the burden of Rs 40,000 crore on them. Even in the yesterday’s railway budget they increased the railway fair which makes a total of Rs. 90,000 crore of burden on the shoulders of the common man. And for the past 7 years due to inflation and raising prices of everything it has worsen up the lives of the people.” If we talk about Inflation Dr Manmohan Singh appreciated the union finance minister Pranab Mukherjee for his proposals on containing inflation. The Economic Survey 2011-12 had projected the inflation for the next year to come down as well. Inflation is expected to moderate to 6.5-7 per cent by March end but spiraling global crude oil prices. Mukherjee also said that inflation would further moderate during the course of next fiscal on account of tightening of monetary policy by the Reserve Bank and other measures.
Overall the budget is somehow showed the development in various sectors with several ups and down, finance minister have produced a good budget.
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