Budget the time better

The current session of Parliament — the budget session — provides a crucial opportunity to discuss important aspects of the economy. But this will only happen if politicians, cutting across the party divide, cooperate in facilitating the process of reviewing, debating and legislating. Indeed, such unanimity of purpose is possible. The winter session had made history of sorts: no less than 42 Bills — including landmark ones like the Securitisation and Reconstruction of Financial Assets — were passed. This pointed to an emerging bipartisan consensus on important reforms.

An encore of this sort must happen this time too. Quite obviously, the state of the economy requires urgent attention. With a collapse in overall GDP growth this fiscal, triggered by negative agricultural production, it is economics rather than politics which must be in command in a session that lasts until May 9, with a short recess. Considering the widespread distress conditions in the countryside, such a focus makes eminent political sense, as well. For example, the last winter session witnessed passionate debates on the problems faced by sugar cane farmers — some of whom had to face police firing in western Uttar Pradesh. How much more serious are the problems caused by the worst drought in recent memory? Sadly, a lot of time of parliamentarians is wasted on non-essential issues, with disruptions galore. Walkouts take place for the most frivolous reasons. While they appear united on matters like improving their own pay and perquisites, MPs appear oblivious to the cost their behaviour imposes on the fisc. If the House is adjourned for the day, the country loses as much as Rs 75 lakh, according to one estimate. These numbers don’t include the expenditure incurred on the residences provided to the members and the fleet of cars provided to ministers. These numbers also don’t include the cost to the nation when important economic reforms are put on hold, thanks to frequent adjournments.

Several important Bills now await the scrutiny of Parliament, including the Fiscal Responsibility Bill and the Electricity Bill — which will make the power sector more bankable. Also politically contentious but crucial labour legislation has not yet been introduced, given the belligerent mood in Parliament. In this budget session, the list of new Bills include the all-important Finance Bill, the Customs Tariff (Amendment) Ordinance, the Central Excise (Amendment) Bill, the Unorganised Sector Workers Bill, among many others. They require the undivided attention of our law-makers. What we are really arguing for is a repeat of the record-breaking performance of the winter session. Or is that too much to ask?