FM left off-budget overhang of Rs 300,000 cr: BJP

Written by Agencies | New Delhi, April 30: | Updated: Apr 30 2008, 19:37pm hrs
Charging the Finance Minister with leaving an off-budget fiscal overhang of Rs 300,000 crore which could wreck the country's economy, BJP on Wednesday demanded resignation of P Chidambaram to escape "dismissal".

"Chidambaram should leave (the government) on his own to avoid being dismissed," Leader of Opposition in the Rajya Sabha Jaswant Singh said initiating a discussion on the Finance Bill.

Singh warned that the country was heading for the worst kind of food inflation and the off-budget subsidy on fertiliser and petroleum would leave a serious dent on the government finances.

Besides, the burden on account of Sixth Pay Commission for government employees would lead to a situation where inflation would be difficult to manage, the senior BJP leader said.

Giving a break-up of the expenses which Chidambaram has not provided for in the budget, Singh said the fiscal overhang includes bank loan waiver for farmers to the tune of Rs 60,000 crore, extra food and fertiliser subsidy amounting to Rs 60,000 crore, oil bonds in excess of Rs 10,000 crore and the Pay Commission burden of Rs 30,000 crore.