I take your point that we have to optimize our tax revenues both at the Central level and at the level of the State. However, you have correctly identified the problem that our economy is facing right now. There are two engines of growth – FDI flows and public investment in infrastructure.
You have conceded on the floor of this House several times and also today, that there is practically no new domestic private investment. Our captains of industry, our capitalist class had heavily invested in you, the BJP, during the election campaign but they are refusing to invest in India today. Now, if in fact, private investors remain in slumber and you have to make higher levels of public investment particularly for our infrastructure needs, this will have a bearing on the fiscal deficit that you just spoke about.
Therefore, I would like to ask you one question. You announced that you would have an Expert Committee to review the FRBM Act in the course of your Budget speech. Please take this House into confidence as to the status of that Expert Committee because we must spend both at the Central level and also in our States on the vital social sector schemes. We cannot ignore the poor and the downtrodden people in our State.
That is why, we say in West Bengal that we have such a terrible debt burden, yet we have an obligation and the responsibility to provide health, education and social infrastructure.