India Business Forum

Search Button

The Indian Express

The Financial Express

Latest News

EIW

Market Indicators

Screen

Celebrity Chat

Express Computers

Express Power

Advertisers Forum

Express Careers

Business Forum

Match Maker

Express Properties

Palki - Travel & Tours

Information Technology

Astrosurf

Eco-India

Dr Know

Screen: The Business of Entertainment

Graffiti

Crossword

Drumbeat: Ad Buzzaar


Corporate

Economy

Expressions

Markets

Leisure

 

Wednesday, July 15, 1998

All loss-making viable PSUs will be revived -- FM 

Our Economic Bureau  
NEW DELHI, July 14: The Lok Sabha on Tuesday passed the demands for grants of all ministries and departments relating to 1998-99 by a voice vote after Speaker GMC Balayogi applied the guillotine.

The House also passed the Appropriation Bill which authorises payment and appropriation of certain sums from and out of the consolidated fund of India for the services of the financial year 1998-99.

Replying to the debate on the Appropriation Bill, finance minister Yashwant Sinha said that the government has decided that all loss-making viable public sector units would be revived. The government will take decisions on all the loss-making units at the earliest by analysing each unit. The outstanding dues of the workers would be paid at the earliest, he added.

With the adoption of the Appropriation Bill and passing of demands for grants for all ministries, the second stage of the Union Budget has been completed. The House will take up the Finance Bill on Wednesday for discussion and adoption.

Earlier, the Housediscussed the demands for grants under the control of the agriculture ministry.

Participating in the debate, former Speaker and agriculture minister Balram Jakhar (Congress) said that the Budget proposals relating to agriculture sectors were anti-farmer, specially against milk producers, who would be hurt badly.

He said that though the allocation for the agriculture sector had been increased significantly, lower allocations had been provided for the irrigation sector.

Criticising the government credit policies towards farmers, Jakhar said farmers should be given credit at a much lower rate of interest. He suggested the limit of rate of interest should not be more than 8 per cent.

He wanted the government to set up a national co-operative bank, which can provide credit to farmers on easy terms and conditions. He demanded that an inter-state ban on movement of foodgrains by certain states should be lifted in the interest of farmers. This would enable farmers get better remuneration for theirproduce.

Singh said the credit policy relating to farmers should be changed by infusing more funds in the Nabard. He also urged the finance minister to institute a CBI inquiry into the affairs of match box manufacturers, which had resulted in heavy losses to farmers.

The minister said there was urgent need for changing the agriculture policy. He indicated drastic changes in the policy with an object to improve the farmers income.

He said that after second Plan period, the allocation of agricultural sector had been declining continously in real terms. The allocation for agriculture sector by the United Front government was reduced by 12 per cent.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


Top


The Ambassador Group of Hotels

Global Tenders invited by MSTC

The National Stock Exchange of India (NSE)

 

Interested in Hi-tech ventures with Israel? Click here


The Indian Express  |  The Financial Express  |  Latest News
Screen  |  Express Investment Week  |  Market Indicators  |  Express Computers
Astrosurf  |  Eco-India  |  Travel & Tourism  |  Information Technology  |  Drumbeat: Ad Buzzaar
Advertisers Forum  |  Career India  |  Business Forum  |  Match Maker  |  Express Properties