Swamy demands Finance Minister's resignation
Madurai, Tamil Nadu, Mar 15 (UNI) Janata Party President Subramanian Swamy today demanded the immediate resignation of Finance Minister P Chidambaram for misleading the people by presenting a 'fraud budget'.
Addressing a press conference here, he alleged that the wrong decisions of Mr Chidambaram would adversely affect the Indian economy.
''How will he compensate the banks, which will waive the farm loans, from the tax receipts? The tax receipt is only Rs one lakh crore. Moreover, the government has to allocate Rs 53,000 crore for the Sixth Pay Commission,'' he said.
Mr Swamy said ''the Finance Minister will reimburse the banks only by printing currency, which will in turn lead to heavy inflation.'' He said out of the 90 million farmers, only two million farmers would benefit from the government's loan waiver and alleged that the Congreemen would swindle the money.
Stating
that
Mr
Chidambaram
had
violated
the
Fiscal
Responsibility
and
Budget
Management
Act
(FRBMA),
he
said
''
as
per
the
Act
the
government
has
to
reduce
fiscal
revenue
deficit
to
zero-level
by
end
of
2008.
Now
it's
clear
that
it
cannot
be
achieved
by
2008-09.
Hence
Mr
Chidambaram
should
be
prosecuted
under
the
FRBMA.''
UNI
GSM
AJ
MIR
AS1748