Shri T.N. Singh, is a member of the Press Commission over which justice Rajadhyaksha presides. I have very great respect for the chairman because he was the adjudicator in many important disputes between the employers and the workers and his judgement was much appreciated by the workers and the employers. I have anticipated the amendment moved by my hon. Friend who desired that the Press Commission if it wants to go into this matter, should inform us of its interim findings by the 15 January, at my request my hon. Colleague, Dr. Keskar has already informed the Commission of this. Has also stated that it is my humble view that the industrial relations bill should come up and is expected to come up early, and therefore, we would like to have their view before the end of January. Secondly, the banking system is not able to cope with this increasing demand for finances or the investments funds for the country, but by using our monetary policy, the RBI has used its instruments of Statutory Liquidity Ration and Cash Reserve Ration very ably had been able to manage the liquidity situation. This Budget also, through its fiscal instruments, has been able to do some kind of stimulus to the economy by spending, deficit spending on the Indian economy. This is not something new which the people were saying about. Even in the 1929 when the whole world economy was facing depression, it was John Lord Maynar Keynes, the greatest economist of the 20th century in the world, who propounded the concept of Pump Priming. When the purchasing power in the hands of the people was not there and the economy was facing umemployment, there was surplus stock and the people were pouring the surplus stock into the sea because the people did not have the purchasing power. The Interim Budget is only an extension of that imaginative fiscal policy and that is why, it has provided for various schemes under which a large amount of money is pumped into the Indian economy.
