We’re soojh boojh ki sarkar, says FM

Finance minister Arun Jaitley announced on Thursday that the government was dropping its proposed move to set up a Public Debt Management Agency, transferring the power to regulate government bonds from the Reserve Bank to the Securities and Exchange Board of India, in a move to buy peace with the country’s Central bank.

During the discussion on the Finance Bill, that was later passed by voice vote in the Lok Sabha, Mr Jaitley said that his ministry would soon unveil an “extremely simplified” Income Tax Return (ITR) form.

Mr Jaitley tore into the Opposition, the Congress in particular, accusing them of pursuing “politics of obstructionism”.

In a swipe at Congress vice-president Rahul Gandhi’s remark that the Narendra Modi govern- ment was a “suit-boot ki sarkar”, he said, “This government is a soojhboojh ki sarkar (wise government).”

In the same breath, however, Mr Jaitley quipped, “Booted hona better hai, booted out

hona khatarnak hai. (It is better to be wearing boots rather than to be booted out)” He went on to add that India was now emerging as a big manufacturing centre of shoes.

Congress leader Mallikarjun Kharge took offence at Mr Jaitley’s use of the term “booted out”, saying it was against parliamentary decorum.

Before Mr Jaitley replied to the discussion, Speaker Sumitra Mahajan gave a ruling on a point of order raised by Trinamul MP Saugata Roy on the government including nontaxation proposals in the Finance Bill, saying though the rules allowed it, such a precedent was rare and the government should avoid such practices.

The Speaker expressed her displeasure at the government bringing in amendments to the Finance Bill at the last moment after the Opposition members objected that they did not get enough time to study the new proposals.

Finance minister Arun Jaitley, talking about the agrarian crisis, said there were two ways to address the issue.