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The limited objective of this Finance Bill is to give Constitutional validity, support to the proposals in the Budget. So I would like to come back to the taxation proposals which are being mentioned in the Bill.  In the last few years, we have been closely seeing and watching the tax reforms being implemented in this country.   Year after year, new tax reforms are being implemented. Today, the UPA Government is determined on the Kelkar Committee Report.  Kelkar Committee was a high-powered Committee appointed by the Government of India which made proposals as to how the taxes can be reformed, and in the last few years, our efforts to reform the taxes have taken us to a very advanced situation.  Our approach has always been to eliminate the distortions in the taxation system and widen the tax net.  So, this Finance Bill very clearly indicates that India’s Tax, GDP ratio is increasing. To quote the figures, the Tax, GDP ratio of India today is 11.5 per cent.  It was 9.2 per cent in 2003-04.  That shows very clearly that our tax compliance, our tax collection is increasing to a satisfactory level.  Today, widening the tax net is the objective, by means of which we can bring down the rates.  The approach of this Government to collect more money is to bring down the rates to a reasonable level and widen the tax net.  We are collecting more money.  Our tax income is increasing.  The tax income, the revenue which is collected by the Government is being spent for the pro-poor programmes.  There was criticism from the Parties, especially from the so-called Left Parties, that this country is not taking care of the problems of the poor people like housing, unemployment and so many other problems.  Today the Government is in a position to spend huge amount of money for the welfare of the people.  The Government is casting a safety net around the poor people of this country.  The whole world is developing in the direction of globalisation and liberalisation. India today is an island.  We are not under the pressure of the multinationals and not under the pressure of globalisation.  The Government is in a position to protect its people.  The Government is in a position to cast a safety net and spend huge amount of money for the welfare measures.  This we could achieve because we have been following an economic policy through our successive Budgets; we are collecting more money; more and more people are brought to the tax net; and we are producing more revenue.  Today we do not need any loan from any country.  There was a time when the World Bank, when the International Monetary Fund, when the Asian Development Bank were not prepared to lend money to India. But, today, even if they are offering loans, India does not need a loan.  That much money we are generating here.  The pro-poor programmes, the poverty alleviation programmes are being taken up in this country. 

            Sir, NREGA programme is being implemented well.  A huge amount of money which has been set apart for NREGA programme shows the willingness and the will of this Government as to how we are taking care of the programme for the poor people. 

            Sir, I am coming back to the tax reform proposals.  The Kelkar Committee has submitted some very important recommendations before this Government.  Now, the Income Tax Act is going to be changed, and we are going to discuss a new Income Tax Code in the next 45 days.  That is what the hon. Minister has assured to this House.  This is a very big thing.  The Income Tax Act which is prevailing in this country today is a colonial production. During the time of the Britishers, in 1920 or 1922 this Act was enacted.  Today, we have a huge Income Tax Act and also CBDT; their Circulars and Orders.  About 625 Sections are there in the Income Tax Act. So, a common man is not able to decipher what is all said in this Act.  Today, a new Income Tax Code is going to be discussed.  In the next 45 days, this Government is going to circulate a new Income Tax Code and elicit public opinion on this new Income Tax Code. This House will enact a new Income Tax Code. That means, the present cumbersome procedure, which a common man is not able to follow, is going to be replaced completely by a new Income Tax Code.

            The intention of this Government today is to introduce reforms.  Take the Goods and Services Tax.  Today, various kinds of taxes are there in the country, and they are: Value Added Tax, Stamp Duty, Vehicle Tax, taxes on Goods and Services; duty on electricity; entertainment tax; luxury tax; purchase tax; and all kinds of cesses and surcharges.  This comes to almost a dozen taxes.  So, a common man is so much confused about all these taxes.  All these things are going to give way for the Goods and Services Tax.  The States are going to have one set of GST and the Centre is going to have another set of GST.  For the Central Government also, now we have Central Excise duty; Central Sales Tax; additional excise duty; service tax; additional customs duty; and all cess and surcharges.  These are the sets of taxes levied by the Central Government, and the State Governments are levying another one dozen taxes.  So, there is going to be a GST for the Centre and a GST for the State. This reform will have a sea change in the whole scenario which we are facing today.