Vajpayee's Budget

Central Petroleum Minister Mr. Ramnayek has clearly indicated that the price of petrol, diesel, kerosene and cooking gas will be increased in the ensuing budget. Union Minister said in a Press Conference the price of crude oil has been increased by USD 30 per barrel in the international market. This price hike will have an effect on budget taxation. Mr. Ram Nayk has clarified the stand of BJP led govt. on subsidising of essential items. He said, government is funding high amount of subsidy. This policy has to be changed in the union budget. Vajpayee government is very much been of reducing the amount of subsidy for the Petrolem products. The policy of reducing subsidy is nothing but an outcome of World Bank’s dictate.

In a recent report World Bank has stated that the amount of subsidy has to be reduced in India. The report also mentioned, India Govt. should not subsidise on the essential items to control the price rise. India govt. should consider the proposal of privatisation of the sectors like power, telecom, port etc. World Bank believes India’s public sector is a total failure.

These indications will take a concrete shape in the ensuing union budget, which is going to present the anti people taxation and fiscal policies. Vajpayee govt. has no intention to absorb the price hike of Petro Products in the World Bank. On the other hand they are desperate to increase the price of essential items which will led to temendons economic burden on the people.

21st February, 2000.