Friction among UPA allies mounting: CPI

8220;The hike was unwarranted and the government could have managed the situation otherwise,8221; he said. Left parties had suggested that the Centre should cut excise and customs duties to 8220;minimise the burden on the common man8221;.

The 8220;friction8221; among the UPA allies was mounting, he said adding the Left parties were continuously posing constructive criticism but the Congress was brushing them aside.

The CPI was anticipating a 8220;poor man8217;s budget8221; this time.

The party had made representations to the Prime Minister and Finance Ministry asking them to be more 8220;soft8221; with the poor and the common man, he said.

If the Union Government has to increase its revenue, it can levy corporate taxes, those on share transfers and stock exchange transactions and gift-taxes, Raja said.

He said there was 8220;something fishy8221; about the losses in the stock market as 8220;when there was a loss somewhere there should be gain for somebody else8221;.

Asking Finance Minister P Chidambaram to come out with the 8220;truth8221;, he said that the activities at the National Stock Exchange and Bombay Stock Exchange were 8220;non-favourable8221; to small investors.