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 15percent 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 as 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 essential raw materials and components. In the meanwhile, our repayment obligations were rising steadily so that we had to "Borrow" million from the 'International' Monetary Fund Last April. In a sense the difficulties that we have been experiencing of late began to gather momentum towards the middle of the Tenth Plan period. The rate of growth of the economy in the Tenth Plan was a very modest one. Both industrial and agricultural production and national income in real terms increased by nearly 13 percent in these two years. Even today we have demanded as to why do you not extend this for the urban poor also. You have been saying that for the unorganised sector we have some social security schemes, although you have not provided any fund at all which has been demanded. For that, there was a voting also here. We opposed that. You did not accept the most important recommendations of the Standing Committee to provide adequate fund. Instead of taking some concrete steps to alleviate the sufferings of the people, you have reduced the allocation for agriculture.
