It is this lacuna in our administrative machinery, it is this weakness in the agency which is called upon to see that the company law becomes a fit instrument for checking and eliminating the defects in the working of the corporate sector which is mainly responsible for the persistence of abuses. Finance minister in his budget speech has admitted that the taxes he has levied are of an exceptional character and the himself has stated that the taxation proposals of the fifth budget of his career total the additional taxation proposals of other four put together, and the has justified his rather heavy taxation on the ground that the defence and needs of the country require such a heavy burden. I entirely agree with the hon. Finance minister that exceptional efforts for resources mobilization have to be made in view of the critical situation through which we are passing and, therefore, I have no hesitation in supporting the general approach which has guided the bill which is now before this house. At the same time, it is necessary to examine the conditions that will be necessary in order to mobilise these resources so that ultimately it may not be in our efforts to mobilise resources, and the generation of additional resources which would be needed in future for our defence and development purpose may become very difficult. It is in this regard that it will be necessary, while considering the proposals contained in this bill, to review the general health of the economy and the impact that these proposals are likely to make on the economic conditions in our country. We were told again and again by the agriculture minister that everything was all right as far as the agricultural sector was concerned, that the food position was very sound.
