Kolkata, March 3 (IANS) The secrecy surrounding the annual union budget needs to be broken to facilitate better participation both from the industry as well as individuals, senior BJP leader and former finance minister Yashwant Sinha said here on Tuesday.
"The secrecy around the budget needs to be broken... If the secrecy wasn't there, the government would have got more suggestions when formulating the Rs.20,000 crore Mudra Bank," he said at an event organised by the Merchant Chamber of Commerce here.
He said the government is unnecessarily shrouding the budget proposals in secrecy before the presentation of the budget.
"There's nothing on expenditure or income side which calls for secrecy," he said.
The former finance minister who had also headed the external affairs ministry during the NDA 1 rule compared the present scenario with a ship waiting to unload its cargo fearing a tax hike.
"We are living in an age when a ship stays at high seas before the budget announcement to unload its cargo at port awaiting taxation changes," he said.
Sinha said the budget is only a representation of the annual income and expenditure of the government and its projected income for the coming fiscal year where some 'Constitutional Provisions' also entail the finance minister to propose some changes in the government's revenue functionaries.
The former Hazaribagh-elected member of parliament said the major areas of concern are its arithmetic tally to balance revenue and expenditure, scope for growth, livelihood issues of people, the quality of life it brings in and the question of equity to balance geographies, economic classes and gender.
He said the budget size for 2015-16 is Rs.18 lakh crore.
The Taliban regime in Afghanistan has assured full security to the Hindu and Sikh communities who
IRCTC / Indian Railways News: Railways can run 300 special trains during lockdown This is condition
The third phase of lockdown is going on across the country from May 4, which will run till May 17
The number of infected patients in the country has reached 13 lakh 37 thousand 18. On Friday, mor
Ali Fazal is also among those who worked in continuity in Hollywood films from India. He was seen
There is big news for the drivers that their pocket money is going to increase. No, we are not ta
The government wants to set up an Appellate Committee to look into the way companies deal with co
Actress Natasa Stankovic has recently shared a cryptic note. A few days ago, viral reports said t
Today in Azam Khan's stronghold, CM Yogi will face-off with Akhilesh Yadav and Priyanka Gandhi
UP Vidhan Sabha Election 2022: Chief Minister Yogi Adityanath will address public meetings in Bil
The dates for the presidential election have been announced in Sri Lanka amid the ongoing crisis
Kho Gaye Hum Kahan Trailer Launch: After the success of 'Dream Girl 2', Ananya Pandey is ready to
