The BJP has charged the Congress-led UPA government with failure to contain the growing rise in the prices of essential commodities. Initiating the discussion on the Union Budget 2010-11 in the Lok Sabha today, senior party leader and former Finance Minister Mr Yashwant Sinha warned that even now, if the government fails to take effective measures to control inflation, the situation will worsen further. He said the Finance Minister Mr Pranab Mukherji has not included the issue of inflation in the challenges faced by the country.<br/><br/>Mr Sinha alleged that the hike in the prices of petrol and diesel have added further problems to the common people. He said the budget proposals in respect of service tax and indirect taxes have led to the hike in the prices of intermediate goods like steel and cement. Mr Sinha said the budget is silent on the issues of raising the FDI limit from 26 to 49 per cent in the insurance sector and the establishment of the Pension Fund Regulatory Authority. He wanted to know the government's stand on these two issues.<br/><br/>Countering the allegations of Mr Sinha, Mr K S Rao of the Congress said that lakhs of crores of rupees are going to rural areas to strengthen the purchasing power of the poor people. Giving details about the budgetary allocations to various sectors like Bharat Nirman, education and social justice, he said that his government is taking all measures to ensure the welfare of the farmers and the farm labour forces. Mr Rao underlined the need for bringing down the interest rates in the country.
News On AIR | March 11, 2010 6:50 PM
BJP charges Centre for growing price rise