Fuel hike rollback? Will talk and sort out,says FM

No,we will talk to them. In a typical coalition government,it happens. There are divergences of views on many issues. Earlier also,we have sorted it out. This time also,we will be able to sort it out.

But were they taken into confidence…

I am telling you,we will be able to sort it out. Leave it at that.

Again,Railway Minister Mamata Banerjee has opposed the service tax on carriage of goods by Railways.

That,she has written me a letter. I am considering it.

Will it upset your Budget calculations if you have to change any of your tax proposals?

I don’t think (so).

Were the two big taxation decisions — increasing the personal income tax slabs and excise duty hike on fuel products — taken much in advance during the Budget-making exercise and well thought out?

Of course,taxation is not done in a cavalier manner. Taxation proposals are well thought out. Whether it is one month or two months is a different matter. Every proposal of the government,so far as I am concerned,is well thought out. I do not do anything off the cuff.

The way the Opposition walked out,how upset are you about it?

In one year,they did not even allow Mr Chidambaram to read the speech. The entire Finance Bill was adopted through din and bustle,not in the distant past,in July 2004-05. So what is new in it?

Because in an otherwise flawless Budget,this was the only issue that resulted in a din.

In a democracy,nothing is flawless. If it is flawless,you must find a flaw.

Do you plan to reach out to the Opposition on this issue?

I always discuss issues with them. But Budget is never discussed with them. Budget proposals are discussed only between the Prime Minister and the Finance Minister. That is a Constitutional requirement,propriety. I have been in the government since the 1970s.

But does the Opposition’s action set a dangerous precedent for Parliamentary democracy?

What is more dangerous,you tell me. You do not allow the Budget speech to be presented,Finance Bill to be discussed,Ministers are not be introduced to the House. What is more dangerous? Sometimes these things happen. You need not be upset with it. If it has happened,it has happened. We will try to find out a solution.

In disinvestment,retail investors did not quite participate in the issues of NTPC and REC? Do you see merit in suggestions of a discount for retail investors?

I will not like to indulge in any speculation or guesswork. It requires study — first the sentiments of retail investors and how the sentiments should be addressed. But the market condition during this period — of NTPC and REC — was a little volatile.

So,you will time the market for disinvestment?

Always. It is always like that.

But if global conditions are choppy…

This is a hypothetical situation. I have laid down the roadmap for the full 365 days. And we will take advantage of what will be the most appropriate time.

Have you zeroed in on the companies for stake sale?

My position is that I will list those companies 10 per cent each as per requirement of SEBI to make them tradeable (in the stock market). That is one. And secondly,I have decided — no strategic sale. This is the roadmap for disinvestment,statement in President’s address and what I said in my last Budget.

Markets loved the certainty on GST and DTC. Once they are in place,then will…

No,that is another thing. There are constitutional obligations. Taxation proposals are approved by Parliament itself. The debate is whether it can approve it in perpetuity or annually. Article 112 of Constitution asks for an annual statement of estimated receipts and expenditure. So,an annual exercise has to be there.