Madam, we must try to analyze very carefully the working of this particular ministry, because it is not merely a department of the government, say to say, but it is the nerve center of the administration of the country. I would like first to refer to the role of foreign capital, because in determining the manner in which the permission of capital issues has been granted by the particular administration, we should keep in our mind to what extent the interests of our nation have been served. I fully endorse the statement which the previous speaker has made so far as repatriation of the investments made by foreigners and of profits are concerned. We have dealt with this topic quite a number of times and I do not want to reiterate anything apart from only supporting what the hon. Member, who just now spoke, said. I would now like to deal with the investments of foreigners in India. Madam, the government of our country accepted the proposition that in allowing foreign investment, it should come in only in such industry and such form of production wherein our national investors will not come forward and in which technical skill is wanted. There is also one other factor which the industrial policy of our government of 1948 as adumbrated further in 1949 by the prime minister laid down. It specifically said that the control and ownership of such concerns should, as far as possible, be in the hands of Indian nationals and the technical know-how of our country should be developed. I would like to emphasise the figures that have been put forward for the last few years. From 1997 till and end of 2002 or the early been reported foreign capital have been allowed to be invested in our country. Of that, practically more than allowed to be invested in managing agency and trading enterprises in our country. So far as the government. But that does not seriously alter the trend of my argument. What I am suggesting is that we would have to be prepared for a deficit of a much higher order even on the revenue side. That itself should make us realise that there are very many problems which we have to face and that we have to undertake ways and means of increasing the resources of our country so that it might be possible for us to have a greater surplus or a greater amount of public saving for the purpose of financing capital development.
