Sir the Budget has been variously described and criticised as one that increases the burden of the common man one which gives concessions to the rich and encourages foreign investments. I agree Sir that it is all this and much more. But it certainly is not a highway man’s budget. To my mind Sir the Budget is sincere conscientious and at the same time it is a bold effort on the part of the Finance Minister who is charged with heavy responsibility of finding resources for the Tenth Five Year Plan. This Plan to my mind Sir is not at all ambitious in view of our needs. It may be looked upon as a rather heavy demand but looking to our needs it is not very ambitious. Sir the fact that even the considerations of the coming general elections could not deflect the Finance Minister from the course which seemed to him necessary and proper should earn him the appreciation of every right thinking man. The common man’s interest as I said is nearer to our hearts than perhaps some others can claim or at least it is equally nearer to us and yet there come times in a nation’s history when it becomes necessary for the people to postpone the fruits of their labour and enterprise to secure the future. Here also Sir opinions may differ. According to the Communist Party such a time came during the last Great War when they were exhorting people the common people to contribute their full mite to the War effort. According to us however Sir we are passing through such a time at the present moment and I have no doubt that the common people appreciate this position and will willingly tighten their belts contribute their full mite and will surely return the Congress to power having full confidence in the future and looking to a future where their posterity will be assured of a far better social and economic order. Who Sir does not sympathise with the difficulties of the common man? As a matter of fact most of us come from that class and I am sure the Finance Minister would have liked to do away with some of the levies. None would have been happier if he could have done without these new levies but there are Sir certain very imperative limitations. We are passing through a critical period. Sir it may not be necessary to continue these levies for a long time; rather I am inclined to think that before long it may be possible to give up some of them at least. I have very valid reasons to think so. Our public undertakings are coming to their own and some of our important irrigation and power projects have just been completed. Some others are nearing completion and in due course I think in the very near future they must yield returns. This will go a long way to lighten the burden of the common man. We might Sir also resort to some other ways. I suggest that we might take to public trading in some specific items of export and import. That would also certainly go a long way and help us. The private corporate sector has been steadily growing and has been developing capacity. It is sure to benefit from all these present concessions and develop greater capacity. This sector must come forward to meet new demands for taxation in the future. I agree that so far as indirect taxation is concerned it has reached the saturation point but the corporate sector growing as it is in strength in vitality and in capacity will not I am sure shirk its responsibility to contribute to the common fund. I wish Sir the committee which had been appointed to go into where the additional national income had gone had entered upon its labours a bit earlier and had made its findings available to us. I do not want to state its findings but I have a feeling that the committee when it concludes its labours will come to the conclusion that a major portion of this additional national income has gone into the pockets of a comparatively small number of men small number of individuals. And it is they who must in future contribute their share to the country’s taxation needs because the profits they have earned are not all due to their own efforts and enterprise only. To a very large measure they are the result of the economic policies of the Government and due to certain other circumstances to which they did not contribute anything. Therefore there is ample justification for the two taxes the capital gains tax and the excess profits tax. I need not go in detail into all the reasons that my hon. friend has explained earlier so lucidly but I must say that I entirely agree with them all. Having said this I would like to say a few words about allocations which have been made to the various Ministries in the Budget. Submit