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Live Update | Price rise debate in Lok Sabha

Live Update | Price rise debate in Lok Sabha
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First Published: Wed, Aug 03 2011. 05 30 PM IST

Updated: Wed, Aug 03 2011. 05 30 PM IST
• The law minister said government had taken a number of fiscal measures like reducing import duties, suspended futures trading in rice and certain pulses to rein in prices. He admitted that inflation was on the rise since December last year but attributed it to the increase in the petroleum prices globally.
He also dismissed the Opposition allegations that the government was pursuing growth at any cost. “We have learnt a great deal from the Prime Minister on growth strategies but we have never heard the concept of ‘growth at any rate’.
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•Janata Dal (United) leader Sharad Yadav asked the government to withdraw diesel subsidy being enjoyed by car owners, telecom operators and malls. He said diesel consumed by telecom towers was causing an estimated loss of Rs48 crore daily.
“Four lakh telecom towers are there in the country. They are enjoying Rs3.80 subsidy per litre, which is meant for farmers. Why are you giving subsidy to the telecom operators, big malls, hotels and car owners?”, Yadav asked. (PTI)
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• Khursheed says all developing countries face inflation
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• “We want to bring down inflation but the fact is we’ve to fix fiscal deficits,” says the minister
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• Khursheed says the government is proud of schemes like MGNREGA, PDS etc.
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• Union law minister Salman Khursheed speaks on behalf of the government
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• Senior BJP leader says the party doesn’t want growth at the cost of rising prices and inflation
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• Hitting out at the Congress which came to power on the ‘aam aadmi’ plank, the former finance minister alleged that government policies have helped the profiteers, blackmarketeers, hoarders and the corrupt to “loot” the common man of an additional Rs6 trillion in the past three years.
“The amount is huge given the fact that the revenue of the government this year is to the tune of Rs6.64 trillion,” he said. (PTI)
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Sinha came down heavily on the moves to bring FDI in retail sector, warning that it was “fraught with dangerous consequences” for the country as American companies like WalMart were known to have “destroyed” farmers and small retailers in the US and Mexico.
“I want to warn ... we know there is US pressure for allowing FDI in retail sector. Please don’t succumb to that pressure”, he said. (PTI)
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• Senior BJP leader Yashwant Sinha moves motion for price rise debate.
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• BJP Wants to expose loopholes in governement policy to tackle inflation.
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• Yashwant Sinha says the growth should be inclusive. Prices priority not growth.
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• Corruption is responsible for rising prices, he further adds.
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• Curb inflation urgently, price burden worst on poor, need inclusive growth.
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• Hope price rise debate will benefit the common man.
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• Govt’s price policy has failed, says Yashwant Sinha.
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• Yashwant Sinha recommended comprehensive food pricing and management policy.
• Sinha said that a survey by the Asian Development Bank suggests that 5 crore people have gone below poverty line in India despite the government’s projection that the economy was growing at almost 9% per annum.”
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• Pointing to a CRISIL report Sinha said that the expenditure on household budget in India has crossed over Rs 6 lakh crore.
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• “Do whatever it takes to curb inflation, we will support you,” said Yashwant Sinha.
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First Published: Wed, Aug 03 2011. 05 30 PM IST