Sugata Bose speaks in Lok Sabha during Question Hour on Fiscal Deficit | Full Transcript

Full Transcript

I was very glad to hear when the Finance Minister said in his Budget speech that he is going to give himself three, instead of two, years to reach the fiscal deficit target. He might as well have taken four years; we would not have minded.

The subsidy bill is not the only expenditure that impacts his ability to reach the fiscal deficit target. Even though we all agree that subsidies, specially fertilizer subsidies, must be better targeted. Austerity measures alone will not help either.

We have to understand the finance minister’s predicament. What he is facing is this. Unfortunately, the government’s corporate friends are not a very public-spirited lot. Therefore, they will not adequately invest in infrastructure. So, the government will have to invest in infrastructure.

The finance minister has an excellent Chief Economic Advisor. I hope this is the advice he is getting.

So, I would like to ask the finance minister whether he will give an assurance to this House that he will continue the upward trend in government investment in infrastructure for the next four years, until the end of the term of this government, so that we achieve the need for a solid foundation for the economic development of this country.