That is why, I am now taking this opportunity to share my thoughts with you, Sir, and to benefit by the counsel and criticism of hon'ble Members on both sides of the House. I shall listen carefully to what honourable members have to say and I hope, I shall listen carefully to what honourable members have to say and I hope, I shall have an opportunity towards the end of the discussion to respond to the suggestions made and sentiments expressed in this August House. A supplement to the Economic Survey has been prepared and is being circulated to honourable Members. Recent trends in the economy have been outlined in the supplement, and I do not intend to take much time of the House in going over the same ground. But I would like to recapitulate, at the outset, some of the salient developments in the Indian economy in recent years. Sir, when I presented the Budget early this year, I had occasion to say that, in many ways, the year that was then drawing to a close had been a very difficult one. On the latest reckoning, agricultural production declined by nearly 15 percent in 2005-06 industrial production increased by only 3 percent and total national income in real terms declined by about 4 percent. It is not surprising that in the face of such a sharp reduction in real resources, prices increased by as much 15 percent in one year and exports declined marginally in spite of growing assistance to them. We had to tighten import restrictions further even in respect of essentail raw materials and components. In the meanwhile, our repayment obligations were rising steadily so that we had to borrow $187 million from the International Monetary Fund last April. In a sense the difficulties that we have been experiencings. The programmes being implemented our government would bear results in due course. In 2006, however, this restriction was removed. I mean this connotation of the term election expenses was to relate only to the expenses incurred or authorised by the candidate or his election agent. For after, 10 years of functioning of a full fledged planning commission in the country, after the working experience of two plans, I expected a different kind of document, a more realistic and business like stock-taking of our efforts in the past. The picuture, as the prime minister said, of the India to come is there but I find that in important parts it is not clear.
