The rate of growth of the economy in the Tenth Plan was a very modest one. During 2003-04 and again in 2004-05 there was a spurt in both industrial and agricultural production and national income in real terms increased by nearly 13 percent in these two years. There were also signs towards the middle of the Tenth Plan period of a distinct improvement in the balance of payments both as a result of the increase in exports and greater utilization of external aid. An unprecedented effort was made in the 2003-04 Budget to raise additional resources to meet the challenge of Defence and development and efforts to mobilize additional resource were continued both during 2004-05. Sir, I beg to move: "That the bill to give effect to the financial peroposals of the central government for the financial year, 2001-02, be taken into consideration. Sir, I had, in my speech in the house on 24 July, 2001 while presenting the budget for 2001-02 explained the main features of the proposals contained in the bill. The explanatory memorandum circulated to the hon. Members also contains the details of the specific provisions in the bill. I do not, therefore, propose to go over the detailed provisions of the bill once again. I feel gratified that the budget has evoked a great deal of interest, and during the debate on the budget in this house, a number of very constructive suggestions were made by the hon. Members with regard to some of the proposals contained in the bill. I have also received a large number of representations from members of the public, trade unions, voluntary organisations professionals bodies and chambers of commerce on the proposals in the bill. I express my sincere gratitude to all of them for giving us these valuable suggestions.
