The Excise Duty on petrol and diesel has gone up to Rs 8.95 per litre and Rs 7.96 per litre under the NDA rule, from Rs 1.10 per litre and Rs 1.35 per litre during the UPA tenure.
rate of 7.8 per cent in its 10 years of rule which, if calculated as per the new methodology for calculating gross domestic product, translates to 11.3 per cent growth rate.
The Congress member said the investments have declined and growth in non-food credit offtake has dipped to a 60-year low level during the NDA tenure.
The Excise Duty on petrol and diesel has gone up to Rs 8.95 per litre and Rs 7.96 per litre under the NDA rule, from Rs 1.10 per litre and Rs 1.35 per litre during the UPA tenure.
"The most retrograde tax is the Excise Duty on petrol and diesel... Whatever the richest man (industrialist Mukesh) Ambani pays, that much a poor farmer will pay... I ask the government to lower the Excise Duty on petrol and diesel by at least Rs 5 per litre," Hooda said.
As Hooda took the name of Ambani, Tathagata Satpathy (BJD) asked the Speaker if the name of someone who is not a member of the House can be taken.
The Speaker said she has been asking MPs to desist from naming individuals who are not members of the House.
Hooda then said the search and seizure power given to the tax officials as part of the Finance Bill 2017 is a "draconian provision" and against the tenets of natural justice.
Rakesh Singh (BJP) said the government is working towards overall development of the women, the children, the poor, the youth and the farmers.
Talking about the agri sector, he said total foodgrain production is estimated at record levels this year at 272 million tonnes.
"This year farmers have received highest prices for their produce," he said, adding the farmers got such prices for the first time since Independence.
Citing some examples, he said 'chana' prices ranged at Rs 8000-Rs 9000 per quintal, while wheat was at Rs 1000-Rs 1500 per quintal and 'masoor' at Rs 6000-Rs 7000.
On Income Tax, he said the previous governments were not able to provide tax benefits up to Rs 5 lakh but they are expecting this from the present government.
Singh said the real estate sector was marred by scams but this government is moving forward on providing affordable houses in both urban and rual areas.
India is one of the fastest growing economies because of the measures taken by the Modi government, he said, adding several reports have found that India is the best place for making investments.
This year, the government managed record tax collection - both direct tax (Rs 6.17 lakh crore) and indirect tax (Rs 7.7 lakh crore), he said, adding opposition stated that demonetisation is not a good step but these figures states other story.
The government is also promoting digital transactions to reduce corruption and increase transparency in the system.
Talking about BHIM App, he said over one crore people have downloaded this and the numbers are further increasing.
"The previous government did not utilize the post offices properly but this government introduced 'India Post' payment banks," Singh said.
To promote the 'ease of doing business', the BJP member said the government announced several measures and has targeted to bring India's rank within top 50. Currently, it ranks 130th out of 190 economies.
Through the Finance Bill, "we want to bring in better tax system" because we have to take several measures like providing power to in rural areas among others, he said.
M Chandrakasi (AIADMK) demanded reduction of tax rates for elderly people, saying it will be a "boon" for them as the decision would protect their interests.
He also said that Tamil Nadu should be adequately compensated during the GST implementation till the break-even is reached.
Saugata Roy (TMC) said when the government introduced the Finance Bill in February, it had 150 clauses and seven schedules but now the government has added another 33 clauses and two schedules.
This is "unprecedented and we have already protested", he said, adding "this government is thinking that they can do anything".
He also said that the government has included tribunals in the bill which has no relation with the taxation proposals.
He added that the chances for the government to achieve the tax collection target is unlikely because of reasons like "reckless" demonetisation decision of the government.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
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