NEW DELHI: The Lok Sabha on passed the annual Indian budget for 1991-92 with the entire opposition staging a walkout protesting against non-raising of income-tax exemption limit and the left parties dubbing it as 2 “sell-out of India’s sovereignty’.
BUP party left the house saying it could not associate itself with the budget as the government did not respond favorably to its demand for raising the income-tax exemption limit. The left parties followed suit saying the budget was aimed at helping the “benefactors” of the ruling party and it had nothing to offer on the vital question of solving the unemployment problem and helping the sick industries Manmohan Singh drew the opposition’s attention to the grave financial crisis and said the measures such as cut in fertilizer subsidy had become necessary to save India from going bankrupt and defaulting in its repayment obligations.
Article extracted from this publication >> September 20, 1991
