NEW DELHI: Aware of the need to keep MPs in good humour if the government's legislative agenda – including several reform bills – is to pass muster, finance minister Pranab Mukherjee on Friday doled out a large sop to them by increasing local area funds to Rs 5 crore a year from Rs 2 crore.
He also announced benefits to fisherfolk by extending preferential interest rates available for farmers to the seafaring community as well. To begin with, Mukherjee, who announced the government's intent to move forward on fiscal consolidation in the Budget, told Lok Sabha on Friday that he was more than doubling the allocation under the MPLAD scheme to Rs 5 crore.
The feel-good move will burn a Rs 2,370 crore hole in the exchequer's pocket and comes despite concerns expressed by the comptroller & auditor general. States like Bihar have scrapped a similar scheme for MLAs as there were frequent complaints of lack of transparency.
Responding to the general discussion on the Budget in the Lok Sabha, Mukherjee, however, assured the House that the concerns expressed by CAG would be addressed while formulating the guidelines and the auditor's report will be placed in Parliament shortly.
After the minister's reply, the House passed the supplementary demands for 2010-11 and relevant appropriation bills, completing the first phase of the three-stage budgetary exercise.
The minister also announced loan concessions for fishermen in the form of interest subsidy to those who repay their bank dues on time. The move is expected to benefit around 20 lakh fishermen, several of whom are in Kerala, Tamil Nadu and West Bengal where elections are to be held next month. Mukherjee said the details of the scheme would be announced separately.
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He also announced benefits to fisherfolk by extending preferential interest rates available for farmers to the seafaring community as well. To begin with, Mukherjee, who announced the government's intent to move forward on fiscal consolidation in the Budget, told Lok Sabha on Friday that he was more than doubling the allocation under the MPLAD scheme to Rs 5 crore.
The feel-good move will burn a Rs 2,370 crore hole in the exchequer's pocket and comes despite concerns expressed by the comptroller & auditor general. States like Bihar have scrapped a similar scheme for MLAs as there were frequent complaints of lack of transparency.
Responding to the general discussion on the Budget in the Lok Sabha, Mukherjee, however, assured the House that the concerns expressed by CAG would be addressed while formulating the guidelines and the auditor's report will be placed in Parliament shortly.
After the minister's reply, the House passed the supplementary demands for 2010-11 and relevant appropriation bills, completing the first phase of the three-stage budgetary exercise.
The minister also announced loan concessions for fishermen in the form of interest subsidy to those who repay their bank dues on time. The move is expected to benefit around 20 lakh fishermen, several of whom are in Kerala, Tamil Nadu and West Bengal where elections are to be held next month. Mukherjee said the details of the scheme would be announced separately.
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